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Stock impact report

Digital employees, AI bootcamps: America's oldest bank is spending billions on tech [CNBC]

Goldman Sachs Group, Inc. (The) (GS) 
Last goldman sachs group, inc. (the) earnings: 4/15 07:30 am Check Earnings Report
US:NYSE Investor Relations: goldmansachs.com/investor-relations
Company Research Source: CNBC
The bank spent about $3.8 billion on technology in 2025, or roughly 19% of its revenue – the highest proportion among its peers, according to data collated by CNBC. An analysis by Goldman Sachs identified BNY as one of the companies that could see sizable benefits from artificial intelligence. The BNY headquarters in New York, US, on Wednesday, July 10, 2024. Jeenah Moon | Bloomberg | Getty Images At America's oldest bank, 134 new workers don't sleep or take sick days. They don't even have names. They're what BNY calls “digital employees.” They work side by side with humans. They have unique roles and are evaluated by how well they do them. Some of their jobs were done by people last year. “The digital employee works 24/7, which is obviously very different to our human counterparts,” said Rachel Lewis, who oversees nine digital employees in addition to thousands of humans as head of payment operations for BNY. “It's really focused on very specific repetitive tasks that al Show less Read more
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