GOLDMAN SACHS is one of the largest investment banking enterprises in the world by revenue, and is a primary dealer in the United States Treasury security market.

<p>GOLDMAN SACHS is one of the largest investment banking enterprises in the world by revenue, and is a primary dealer in the United States Treasury security market.</p>

Goldman Sachs

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Goldman Sachs Collaborates with Anthropic to Develop AI Systems for Operational Efficiency

Goldman Sachs collaborates with Ansoff to develop an automated system to enhance the efficiency of accounting and compliance positions. Ansoff engineers have been working at Goldman Sachs for six months, focusing on trade accounting and client qualification review. Goldman Sachs expects the technology to accelerate business processes and will not lay off employees in the short term. The Chief Technology Officer stated that the intelligent agents are still in the research and development stage, with plans to launch as soon as possible, but did not disclose a specific launch date. Goldman Sachs is undergoing a business restructuring around generative artificial intelligence to control personnel growth

Goldman Sachs introduces Ansorop's artificial intelligence model to automate accounting and compliance-related positions

Goldman Sachs is collaborating with Anthropic to develop AI agents aimed at automating trade accounting and client onboarding processes. The initiative, led by CIO Marco Argenti, seeks to enhance efficiency and reduce time spent on these tasks. While the bank is in the early stages of this project, CEO David Solomon has indicated a broader strategy to integrate generative AI across the firm. Although there are concerns about potential job losses, Argenti believes the technology will primarily enhance capacity and improve client experiences.

Goldman Sachs is tapping Anthropic’s AI model to automate accounting, compliance roles

Shares of investment bank Goldman Sachsfall 4.03% to $901.54Analyst Brian Mulberry of Zacks Investment Management says GS pressure reflects two sentiment-driven fears: AI weighing on software valuations (GS software basket –6%) And concerns that legal/finance AI tools, e.g. Anthropic’s Legal plugin, could disrupt advisory-heavy businesses like banking and taxAdds this appears to be a rotation on perception rather than fundamentals, with no clear evidence of long-term earnings destruction for Goldman at this stageIncluding session’s move, GS up 42% in the last 12 months

BUZZ-Goldman Sachs slides on AI disruption fears

Goldman Sachs Exits Apple Card Program Expected to Boost Earnings Per Share in Q4

Goldman Sachs is selling about $20 billion in Apple Card balances to JPMorgan Chase at a $1 billion discount, expected to boost Q4 earnings by 46 cents per share.12Goldman Sachs advised clients to sell Wagamama Holdings Ltd bonds due to high prices, worsening fundamentals, and potential credit risk from an upcoming May earnings report.3

Key facts: Goldman Sachs sells $20B Apple Card balances; advises bond sell

JPMorgan has taken over as the issuer of Apple Card from Goldman Sachs, enhancing Apple's financial services credibility. However, this change is unlikely to significantly impact Apple Inc.'s stock, which has risen 50% from its 52-week low. The card contributes minimally to Apple's revenue, focusing more on ecosystem loyalty than profit. The switch was driven by Goldman Sachs' issues rather than Apple's initiative, and analysts predict limited growth for AAPL shares, with a cautious outlook on AI's immediate impact. Apple has also lost its position as the second most valuable company to Alphabet Inc.

Apple Stock: Why JPM Switch Is Strategically Sound But Financially Modest

JPMorgan has taken over as the issuer of the Apple Card from Goldman Sachs, marking a strategic shift in Apple's financial services. While this partnership enhances Apple's credibility, it is not expected to significantly impact the company's earnings or stock price in the near term. The transition was prompted by Goldman Sachs' challenges in consumer banking, making it a reactive move for Apple. Analysts suggest that AAPL shares may face limitations in growth due to high valuations and a cautious outlook on AI adoption.

Goldman Sachs

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Goldman Sachs Collaborates with Anthropic to Develop AI Systems for Operational Efficiency

Goldman Sachs Exits Apple Card Program Expected to Boost Earnings Per Share in Q4