The Goldman Sachs CEO's take on AI

28 Feb 2025 · 1 min

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This content was created by Eric Siu. This content was uploaded by Eric Siu. This is a YouTube video titled "The Goldman Sachs CEO's take on AI" (uploaded 2025-02-28). The excerpt features a single speaker (labeled SPEAKER A) summarizing remarks attributed to the Goldman Sachs CEO (CEO since 2018) about the impact of AI on work: AI can draft public filing documents such as S-1 prospectuses in minutes (handling ~95% of the work), turning much of that labor into a commodity and leaving the final, creative 5% to top talent who will command higher pay. The clip appears to be a commentary or news-style summary about AI's effects on finance and legal drafting workflows.

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The shocking revelation from Goldman Sachs CEO. So he's been Goldman's chief since 2018. He spoke about the impact of AI, but he said, look, the bank now has 11,000 engineers and 46,000 employees, and it's using AI to draft public filing documents. So the work of drafting an S-1, the initial registration prospectus for an IPO, might have taken a 6-person team 2 weeks to complete, but now it could be done 95% by an AI in minutes. He said the last 5% now matters because the rest is now a commodity, meaning that the best people, the most creative people, that the best of the best, those people will have a And they'll get paid a lot more money. Yup.