Goldman Sachs is testing an AI software engineer, Devin, developed by start-up Cognition. Devin is capable of performing full coding tasks independently, potentially multiplying productivity by three to four times, and could feature in thousands of roles within the bank.
As banks increasingly rely on AI, concerns arise over job security. Goldman anticipates a hybrid workforce where humans manage AI tools like Devin, though this raises questions about future workforce needs in an AI-dominated environment.
Goldman Sachs views this AI strategy as the future of finance. If successful, the implementation could set a precedent for other banks to follow, leading to transformative changes across the industry in the way jobs are structured.
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