"The revamp will "re-wire" Goldman's operations to boost efficiency, profitability, and client service, CEO David Solomon, President John Waldron, and CFO Denis Coleman said in the memo. "To fully benefit from the promise of AI, we need greater speed and agility in all facets of our operations," they wrote. "This is a moment for us to expand our 'One Goldman Sachs' ethos to our internal operating model.""
"The plans come after Solomon recently said at a conference that he predicted the firm would, in fact, have more employees - not less - in the coming years, thanks to the efficiency gains that would be generated by embracing generative artificial intelligence. Goldman has already leaned heavily into AI, from its GS AI Assistant - an internal ChatGPT-like product - to copilot tools designed to help bankers work more efficiently."
Goldman Sachs is overhauling its OneGS program into OneGS 3.0, an AI-driven cross-bank initiative to unify services and drive new business. The firm will implement a limited reduction in roles and restrict headcount growth through year-end while aiming to rewire operations for greater efficiency, profitability, and client service. Leadership says AI adoption requires speed and agility across operations and that certain work streams, like sales enablement and client onboarding, can gain immediate benefit. The firm already uses internal AI tools such as GS AI Assistant and expects net headcount growth by the end of 2025.
Read at Business Insider
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