The Goldman Sachs investment giant began to introduce artificial intelligence into the work of its employees. The company has already provided access to the GS AI assistant ten thousand employees. This is the first step in the long-term strategy for the introduction of AI systems into work processes.
Marco Argent, the technical director of the company, told CNBC television > that at the first stage, an artificial assistant will deal with simple tasks: to check emails, make their brief summary and translate the code between programming languages.
Goldman Sachs is not the first bank that turned to such technologies. JPMorgan and Morgan Stanley are also actively introducing tools based on AI. Officially, managers say that they want to facilitate the work of subordinates, however, different between the lines are read: part of the personnel hope to be replaced by machines.
According to Argent, after three to five years, the line between man and AI will begin to wash. “Communication with AI Assistant will resemble a conversation with the usual Goldman Sachs employee,” he said in an interview.
However, the effectiveness of a new tool has yet to be checked. Modern models have a serious drawback – they are prone to “hallucinations”, that is, they can give false facts. The engineers have not yet found a way to completely solve this problem.
In addition, AI tools cause concerns from the point of view of cybersecurity. Some companies have already encountered the fact that chat bots accidentally disclose confidential information to strangers.
Despite the obvious risks and disadvantages of technology, Goldman Sachs still intends to develop this direction.
The director also assured that over time, artificial intelligence will learn how to test their work – as people do. At the same time, according to the Bloomberg study, in the coming years, investment banks around the world can reduce to 200 thousand jobs due to the development of AI.
Tomash Netzel, senior analyst Bloomberg Intelligence, believes that there will be primarily positions associated with routine repeating tasks. However, in his opinion, the appearance of advanced algorithms will not lead to the complete disappearance of these professions – rather, it will change them very much.
This thought is also supported by Argent. “Ultimately, everything comes down to people,” he emphasizes. “It is they who will develop AI, teach him, expand his capabilities and make decisions based on his work.