Goldman Sachs deploys its first generative AI tool across the firm
Goldman Sachs will finish rolling out its first generative artificial intelligence tool—for code generation—to thousands of developers across the company by the end of the month. Chief Information Officer Marco Argenti said the company’s approach to generative AI involved centralizing all proprietary uses of the technology on an internal platform, and restricting them elsewhere. “It might have slowed us down initially, but then we definitely gained a lot of velocity afterwards," Argenti said.
“Taking this centralized approach obviously has pros and cons," he added. Argenti said he had to push back against those who wanted to move faster and contend with some frustration over the bank’s decision to ban the use of OpenAI’s ChatGPT within its walls, a step taken by other firms. CIOs across industries, facing pressure from chief executives and corporate boards to leverage generative AI, are stuck between moving fast enough to achieve competitive gains, but not so fast they leave themselves vulnerable to dangerous hiccups.
A number of efforts remain in the pilot or proof of concept phase, although ideation is gradually moving to more implementation this year, said Chirag Dekate, a vice president analyst at research firm Gartner. Goldman’s generative AI platform, known as the GS AI Platform, grew out of an existing machine-learning platform and is the single point of entry for all generative AI use at the company. Goldman’s approach also included tapping partnerships with OpenAI-backer Microsoft to use GPT-3.5 and GPT-4 models and Google for its Gemini model.
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