Goldman Sachs Integrates AI Engineer Devin, Outperforming Human Coders
Goldman Sachs has hired AI Devin as a software engineer, outperforming human coders in initial tests.
Key Points
- • Goldman Sachs employs an AI named Devin as a software engineer, marking a significant AI integration.
- • Devin, developed by Cognition, is capable of autonomously building applications and enhancing legacy systems.
- • Initial reports indicate Devin has outperformed human engineers, leading to a potential scale-up of AI use at the bank.
- • The finance sector, including firms like JPMorgan and Morgan Stanley, is increasingly adopting AI for coding efficiency.
In a groundbreaking move, Goldman Sachs has hired an artificial intelligence named Devin, developed by Cognition, to serve as a software engineer. This initiative represents a significant advancement in the integration of AI into finance, particularly in coding tasks traditionally performed by humans. Devin is classified as an 'agentic AI,' which means it can execute complex software engineering tasks independently, without the need for constant human guidance.
Reports indicate that Devin has already demonstrated its capabilities by successfully building full applications and updating legacy systems. Intriguingly, initial assessments suggest that Devin is outperforming human software engineers in various tasks. As the firm monitors Devin's performance, there is a possibility of scaling the use of similar AI agents throughout the bank, which employs around 12,000 software engineers currently.
The implications of this development extend beyond Goldman Sachs, as major players in the finance industry like JPMorgan Chase and Morgan Stanley are also deploying AI solutions to enhance operational efficiencies. Marco Argenti, Goldman Sachs' tech chief, highlighted the notable advancements of Devin, stating that it is 'miles ahead' of previous AI tools, which have resulted in a productivity increase of up to 20% for human engineers.
This adoption of AI coders aligns with a broader trend in the finance sector where advanced AI technologies are being leveraged to improve coding efficiency and innovation. Argenti's comments reflect the evolving perception of AI in the workplace, with the view that these systems can become active contributors rather than just tools, marrying human creativity with the computational prowess of AI. As this integration progresses, the industry might see a transformation in how financial institutions manage coding and software development tasks.