Goldman Sachs has introduced “Devin,” an AI-driven autonomous software engineer by Cognition, aimed at enhancing productivity by three to four times compared to previous AI tools. This initiative comes as the firm aligns itself with a “hybrid workforce” model where AI collaborates with human engineers. Goldman plans to deploy hundreds, if not thousands, of Devin units alongside its existing 12,000 software engineers. While Goldman continues hiring, concerns arise regarding AI’s potential to eliminate entry-level positions, with industry leaders predicting significant job losses in white-collar roles. Analysts warn that the shift towards AI could reduce Wall Street jobs by up to 200,000 within three to five years. Goldman’s CIO Marco Argenti emphasizes that workers proficient in AI will thrive, highlighting the urgency for young talent to adapt. In an evolving job landscape, harnessing AI effectively will be crucial for career advancement in technology and finance sectors.
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