Goldman Sachs CEO David Solomon is of the opinion that artificial intelligence is more than just a new fad. In his eyes, investors should prepare for AI to have a long-term effect on the way in which business is conducted.
“AI is not a bubble. It’s a trend that we’re in the early stages of seeing how it affects business productivity,” Solomon stated while being interviewed on the David Rubinstein Show. He added that Goldman Sachs has made use of AI for decades, adding that the company has already launched AI ventures that could change how business deals could be conducted. Louisa AI, which was founded five years ago, aids bankers and investors analyze millions of articles to help them identify the best possible deals.
Since its founding, Louisa AI has continued scouring for new AI deals, suggesting $800 million in deals per quarter, Goldman Sachs managing director Rohan Doctor explained. Goldman Sachs is also looking to launch several generative AI tools in the coming months for its workforce to utilize.