Tech Explained: Here’s a simplified explanation of the latest technology update around Tech Explained: Goldman Sachs taps Anthropic for AI agents: Chief information officer explains one capability that ‘surprised’ investment bank in Simple Termsand what it means for users..
Goldman Sachs has said that it deploying fully autonomous AI agents designed to automate complex, process-intensive roles within the investment bank, and these autonomous digital co-workers are powered by Anthropic’s Claude model. In an exclusive interview with CNBC, Goldman’s Chief Information Officer, Marco Argenti, revealed that the firm has spent the last six months co-developing these “digital co-workers” alongside engineers from the AI startup.“Think of it as a digital co-worker for many of the professions within the firm that are scaled, are complex and very process intensive,” he said. The report also said that the initiative is part of a multiyear reorganisation led by CEO David Solomon to center the bank’s operations around generative AI.
The ‘surprising’ capability of Claude
Goldman transitioned to Anthropic’s Claude models after the bank successfully tested AI coding assistants for its engineers. Argenti told the publication that the team was “surprised” to find that the model’s reasoning capabilities in handling high-stakes financial operations.“Claude is really good at coding. Is that because coding is kind of special, or is it about the model’s ability to reason through complex problems, step-by-step, applying logic,” Argenti was quoted as saying.Goldman’s next step would be to see whether AI agents can offer same level of automation in other departments. “There are these other areas of the firm where we could expect the same level of automation and the same level of results that we’re seeing on the coding side,” he said.Goldman may next develop AI agents for tasks like employee surveillance or making investment banking pitchbooks, he said.
Premature to expect AI-led job cuts
While talking a bout AI-led job cuts, Argenti said that it was “premature” to expect that this technology will lead to less headcount.“It’s always a trade-off. Our philosophy right now is that we’re injecting capacity, which in most cases will allow us to do things faster, which translates to a better client experience and more business,” Argenti added.