Goldman Sachs CIO Marco Argenti spoke at a fintech conference in May 2023, claiming that AI will make workers “superhuman.” However, in a recent interview, he took a more cautious approach towards the power of generative AI models, emphasizing productivity over intelligence. The firm is slowly implementing AI tools due to uncertainties surrounding these models. Despite the need for urgency in the era of generative AI innovation, Argenti believes in a measured approach, especially in a highly-regulated industry like banking.
Goldman Sachs recently announced the deployment of its first generative AI tool, GitHub Copilot, to enhance software development efficiency without leading to job cuts. Argenti clarified that the firm will not build large language models from scratch but integrate existing AI models into its platform. The next AI implementation at Goldman Sachs will focus on document management to assist knowledge workers with tasks like summarizing text and extracting data.
Argenti highlighted the challenges of document management compared to software coding automation, citing the complexity of data sources and the need for highly accurate information. The centralized GS AI platform at Goldman Sachs is designed with safety guardrails to allow for experimentation at a higher speed. While the timeline for the release of the document management tool is uncertain, Argenti emphasized the importance of ensuring safety and accuracy in AI implementations.
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Source link: https://fortune.com/2024/06/28/goldman-sachs-cio-ai-superhuman-productivity-superhumanly-smart/