Goldman Sachs just launched an AI helper for its employees. This tool, called GS AI Assistant, uses Generative AI to summarize documents, analyze data, and draft content quickly. The goal is to free up staff to focus on more strategic work.
The bank’s Chief Information Officer, Marco Argenti, sent a memo to employees saying over 10,000 staff members had already tried out the AI tool before its official launch. GS AI Assistant is designed to simplify complex documents, create initial drafts, and analyze data fast. This should reduce repetitive tasks for employees and let them focus on decision-making and strategy.
Other banks are also exploring AI tools. For example, Citigroup has Citi Assist for searching internal policies and Citi Stylus for summarizing and comparing documents. Morgan Stanley uses chatbots to help financial advisors communicate with clients, while Bank of America has Erica, a virtual assistant for customer transactions.
Goldman Sachs hasn’t revealed the developer of its AI system, but it has partnered with tech companies like OpenAI and Microsoft to study and test Generative AI in the bank. The launch of GS AI Assistant shows the financial sector is getting serious about using AI to improve work processes. This is a significant step for the bank in using AI to support its internal operations.
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