The newest hiring in Goldman Sachs It is not human.
The bank is testing an autonomous software engineer from the cognition of artificial intelligence start that is expected to join the rows of the 12,000 human developers of the company, said Goldman Tech chief Tech, Marco Argenti, to CNBC.
The program, called Devin, became known in the technology circles last year with the cognition statement that the first IA software engineer in the world had created. Demonstration videos showed that the program functioned as a complete battery engineer, completing several steps tasks with minimal intervention.
“We are going to begin to increase our workforce with Devin, which will be like our new employee who will begin to do things on behalf of our developers,” Argenti said this week in an interview.
“Initially, we will have hundreds of Devins [and] That could enter thousands, depending on the cases of use, “he said.
It is the last indicator of the vertiginous speed in which AI is being adopted in the corporate world. Last year, Wall Street companies include JPMorgan Chase and Morgan Stanley They were implementing cognitive assistants based on Operai models to meet employees with technology.
Now, the arrival of AI de Agentic to Wall Street, which refers to programs such as Devin that not only help humans with tasks such as summarizing documents or writing emails, but also executes complex works of several steps such as the construction of complete applications, says a much greater change, with greater potential rewards.
Technological giants that include Microsoft and Alphabet I have said that AI is already producing around 30% of the code in some projects, and Salesforce The CEO Marc Benioff said last month that AI handles up to 50% of the work in his company.
In Goldman Sachs, one of the world's main investment banks, this most powerful form of AI has the potential to boost the productivity of workers in up to three or four times the previous AI tools rate, according to Argenti.
Devin will be supervised by human employees and will handle works that engineers often consider fishing, such as updating the internal code to the newer programming languages, he said.
Devin, a AI software developer, of a startup called Cognition Labs, which is valued at almost $ 4 billion and has the Fund of Founders of Peter Thiel among investors.
Courtesy: Goldman Sachs
Goldman is the first important bank to use Devin, according to Cognition, which was founded at the end of 2023 by a trio of engineers and whose staff is full of champions encoders.
In March, the startup doubled its valuation to almost $ 4 billion only one year after the launch of Devin. The company has Peter Thiel and Joe Lonsdale, the leading risk capitalists and Palantir co -founders, among its investors.
Goldman does not have a participation in cognition, according to a person with knowledge of the matter who refused to be identified by talking about bank investments.
Hybrid workforce
The bank movement could cause a new round of anxiety in Wall Street and beyond employment cuts as a result of AI.
Business Executives of Amazon For Ford, he has become more sincere about what AI will mean for the hiring of plans. Banks around the world will reduce up to 200,000 jobs in the next three to five years as they implement AI, Bloomberg's research arm said in January.
For his part, Argenti, who joined Goldman from Amazon in 2019, drew a vision for the near future that called a “hybrid workforce” where humans and the Ia coexist.
“These are people and Ais who work side by side,” said Argenti. “Engineers are expected to have the ability to really describe problems in a consistent way and turn them into indications … and then be able to supervise the work of those agents.”
Although the role of the software developer is one that most lends to the type of training, called reinforcement learning, which is used to make AI smarter, other roles in a bank are not far from automated, according to Argenti.
“These models are basically as good as any developer, it's really great,” said Argenti. “So I think that will also serve as a trial point to expand it to other places.”
