Goldman Sachs (GS) has made it clear that artificial intelligence assistants will play a critical role in the banking sector in the future. The investment bank has started rolling out an AI assistant for bankers, traders and asset managers. The rollout marks the initial stage of a campaign that will see AI assume the role of a seasoned Goldman employee.
Goldman AI Assistant
GS AI assistant is the new program currently in use by about 10,000 employees, and it plans to launch to all employees by the end of the year. The program is designed to help with tasks such as summarizing or proofreading emails or translating code from one language to another.
According to Chief Information Officer Marco Argenti, the tool primarily generates responses based on Goldman data that has been fed into AI models from OpenAI’s ChatGPT, Google’s Gemini, and Meta’s Llama. Additionally, the bank is examining models from businesses like Cohere, Mistral, and Anthropic.
Goldman’s AI assistant launch marks a significant advancement since ChatGPT went viral around two years ago, as the top three investment banks in the world, along with JPMorgan Chase (JPM) and Morgan Stanley (MS) have aggressively rolled out generative AI tools to their employees. According to experts, the ability of large language models to replicate certain aspects of human cognition has led Wall Street to adopt generative artificial intelligence more quickly than any other disruptive technology in recent years.
The possibilities of that future, along with the reality that Wall Street workers are assisting in the development of a technology that could replace some jobs while enhancing others and generating new ones entirely, could cause a new wave of anxiety among employees. Like Goldman, other large investment banks plan to provide generative AI tools to all their employees within the next few months.
Due to generative AI, which has the potential to increase profits by billions of dollars, the finance and technology sectors are thought to be among those where workers are most vulnerable to disruption. Meta Platforms (META) CEO Mark Zuckerberg has already stated that the company’s AI will be able to write code just as well as mid-level software engineers.
Microsoft vs. DeepSeek
Meanwhile, Microsoft (MSFT) has lodged investigations on allegations that Chinese artificial intelligence startup DeepSeek might have illegally accessed data linked to OpenAI’s technology. The investigation comes from the software giant’s security researchers, who observed individuals they believe may be linked to DeepSeek exfiltration of a large amount of data using the OpenAI application programming interface in the fall.
Such behavior might be against OpenAI’s terms of service or suggest that the group took action to get around OpenAI’s limitations on the amount of data they could collect. Software developers can purchase a license to use the API to incorporate OpenAI’s proprietary AI models into their applications.
President Donald Trump’s artificial intelligence czar, David Sacks, has stated that there is “substantial evidence” that DeepSeek used OpenAI’s model output to inform the development of its technology.
In its defence, DeepSeek insists it “distilled” models from its R1 system using other open-source systems. Some models, like Meta’s Llama, are open-source and freely usable, in contrast to OpenAI’s closed systems.
