AI to transform business workflows and productivity, Goldman Sachs CIO says

foxbusiness.com:

‘Barron’s Roundtable’ panelists discuss the evolution of AI and how investors can look for opportunities with the emerging technology.

The rise of generative artificial intelligence (AI) tools is poised to transform business workflows and processes, disrupting professions to boost productivity, according to one tech expert at a leading investment firm.

Marco Argenti, the chief information officer at Goldman Sachs, told FOX Business in an interview that although he went through prior hype cycles for the cloud, mobile, apps and the internet – the speed of the AI hype cycle is «probably the fastest that I’ve seen I think already even compared to a few a months ago.»

«Companies have started to change their attitude toward AI a little bit in which we’re maybe through the ‘trough of disillusion’ and already in the stage in which we’re expecting and sometimes seeing practical results from that,» Argenti explained. «So considering that a year ago we were probably not even talking about it, and right now we’re kind of almost full cycle through the Gartner hype cycle of phases. And I think the first thing to say is that companies including ourselves are expecting real gains and real results from AI already.»

Argenti drew a distinction between AI use cases that boost or sustain productivity and help boost efficiency, versus those that are more disruptive to a given profession or field because it can accomplish tasks that humans are not capable of doing. 

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Goldman Sachs Chief Information Officer Marco Argenti told FOX Business that AI is poised to transform workflows and boost productivity. (Thiago Prudencio/SOPA Images/LightRocket via Getty Images /