Goldman Sachs Launches AI Assistant Firmwide, With 10,000 Employees Already Using It (reuters.com)
- Reference: 0178155751
- News link: https://slashdot.org/story/25/06/24/006220/goldman-sachs-launches-ai-assistant-firmwide-with-10000-employees-already-using-it
- Source link: https://www.reuters.com/business/goldman-sachs-launches-ai-assistant-firmwide-memo-shows-2025-06-23/
> With the AI tool's official company-wide launch, Goldman joins a long list of big banks already leveraging the technology to shape their operations in a targeted manner and help employees in day-to-day tasks. [...] The GS AI assistant will help Goldman employees in "summarizing complex documents and drafting initial content to performing data analysis," according to the internal memo.
"While the official line is that AI frees up employees for 'higher-value work,' the real-world consequence is a reduced need for human labor," notes Gizmodo in [2]their reporting . A banker told Gizmodo that because their AI system now processes 85% of all client responses for margin calls, "the operations team avoided hiring 30 new people."
Gizmodo asks pointedly: "If one AI tool is replacing the need for 30 back-office staff in one corner of one bank, what happens when the entire industry scales that up?"
[1] https://www.reuters.com/business/goldman-sachs-launches-ai-assistant-firmwide-memo-shows-2025-06-23/
[2] https://gizmodo.com/goldman-sachs-makes-a-huge-ai-bet-2000619276
Unproven if AI replaces jobs (Score:1)
We've not had it long enough to know. Not hiring 30 staff is not the same as firing 30 staff. The AI replacing jobs is just another part of the fear marketing to boost the bubble.
I am exiting the digital world. (Score:5, Insightful)
More or less.
I'm your Type A 80ies computer-kid and switching my career to becoming a full-time web-developer in 2000 was one of the best decisions I ever made. The last 25 years were awesome, I had a great time and made made decent money, even if I didn't get rich.
However, I see the writing on the wall. The bots are here and they're taking over and social media IMHO has always been a total PoS and it ain't getting better. Slashdot is the only thing that comes close to that for me and I've been here for 25 years which is quite a run. I'll stay around, but that's only a small part of my day.
I'm glad I have all the skills I could ever ask for in handling computers and digital devices and I'm also glad I basically can do _everything_ I would ever want to do with a computer myself and on a professional level. Designing, programing, video-editing, sound-editing, 3D, DTP, print, typography, etc. all with todays offerings of FOSS. But I also see that there is less and less need for my services in the real world, at an increasing rate and of the new stuff, from social media and online ads onward right up to todays generative and conversational AI there is nothing really there that interests me where I see a full-on day job coming out of it. It's all more of an all-out replacement of my kind.
On top of that I see the "loneliness epidemic" running rampant outside of my nerdy peer group and the real world increasingly becoming somewhat of an exception for a growing number of people.
As far as I can see it is due time for me to focus more and more on non-digital things. The last few years my non-fiction reading has moved from IT stuff to social skills and modern psychology (authentic relating, radical honesty, attachment style theory, mindfulness, etc.) and my pastime activities are all IRL (paragliding, kite-surfing, traveling, social dancing, meeting with non-IT peope such as motorbike clubs and boardgamers, etc.).
The prospect of more and more AI taking over as partners also makes hanging out online way less attractive IMHO. I will still be running my blogs and websites and helping people with digital stuff, but the party clearly is with real face-to-face human interaction now, the IT stuff has taken the place of little more than a sophisticated cultural technique and stopped being a day-job for me.
While I did get lucky and scored a good job as a sole IT expert and senior developer in a company of 70+ legal experts and lawyers, I do expect my job to go extinct in the foreseeable future and really don't see myself sitting at a desk typing and clicking for money. Those times have passed and I'm likely better off being a barista, dancing coach or travel guide in the future.
It is my impression that quite a few of my fellow IT experts see things more or less the same way.
Incels don't whine. (Score:2)
They often suffer silently.
They are also more common than you think, especially today. I should know, because I was one, back in the 80ies and early 90ies when the term actually carried some meaning, unlike today where rampant femnoise and misandry have perverted the term beyond recognition. I'll just copy-paste my standard PSA on the topic here to offer some more broader less contemporary-dimwitt-mainstream-media-bullshit perspective. You might find this helpful.
PSA: Incel, definiti
Re: (Score:3)
I agree. The same thing happened with hardware engineering through the 2000s. You used to be able to have an incredible career designing fun products and earning good money if you could do the hardware and embedded software. Then they started outsourcing everything. Over that time I looked at the situation in Shenzhen and sometimes wish I'd been born in China - they got what we used to have. Malls full of electronics part manufacturers and a rapidly developing eco-system able to crank out amazing products.
I
Re: (Score:2)
You should check out the finance industry. You might be surprised about the opportunities in hardware design and the possible pay scales.
Just saying....
Re: (Score:3)
> I see the "loneliness epidemic" running rampant
That's an obvious market opportunity for fake AI friends to keep people company.
Bankers make their own work (Score:2)
I don't deny that the financial sector has important uses, but a large part of it now is just a make for work scheme funded by government bailouts. Outside of things like keeping your money safe, facilitating trade, and insurance etc, its main purpose is supposed to be the efficient allocation of capital, and this dominates the sector. Yet we repeatedly see situations such as the GFC where it essentially just perpetuated a gigantic ponzi scheme, and rather ironically, it was so bad at allocating capital to
Goldman Sachs built a 28k person office in ft wort (Score:1)
so yea built this Hugh place had the city winded two high way, build power for them tore up two ranches.
Yea and its been empty since they finished it. Its the size of a small city.
People person (Score:2)
Why can't the person writing the original document just do the work the person using the AI was going to do. Then you just skipped the step of using the human using the AI assistant to summarize the document.
Re: (Score:2)
...because, when you write a legal contract, you try to put in clauses for all possible contingencies, and then a few more, just in case there are situations where you might otherwise have to pay when things go bad.
The other guy needs a two sentence AI summary because he can feel good about how simple and straightforward the contract really is, since nothing could ever go wrong anyway.