Goldman Sachs has begun real-world tests for a new artificial intelligence tool named Devin. This specific tool, created by Cognition, falls in line with the company’s broader, creative approach to workforce productivity. The AI tool, which is currently at version 2.1 release since May, aims to aid human developers not replace them. This new initiative reinforces the bank’s commitment to being at the forefront of new technology. Simultaneously, it prioritizes the important work of its nearly 12,000 human developers.
Since its debut last year, Cognition’s Devin has the scene all abuzz. It went viral on social media for good reason. Its jaw-dropping capabilities and applications across every industry made it a hot topic. The AI tool works best on larger codebases, which give it enough context to operate effectively. Utilizing this technology, Goldman Sachs hopes to simplify workflows and increase productivity across its developer teams.
Devin’s rollout is the first full-scale move to a “hybrid” workforce model. Under this model, human oversight is absolutely critical to ensure the safe and effective use of AI tools. Goldman Sachs would be the first to admit that Devin won’t supplant its human developers. Rather than inciting their fear, Devin will work together with them to improve efficiency and ensure they’re able to work on higher-level work. Through this partnership, we are working to better align the industry and regulatory ecosystems, creating a world where technology enhances but does not replace human judgment.
To achieve the most on a macro level, Cognition designed Devin to help organizations as a whole become more productive. Banking and the financial industry as a whole are particularly quick to adopt disruptive new technologies. Tools such as Devin have become indispensable to keeping ahead in this rapidly changing market. Goldman Sachs is implementing generative AI across the board. Beyond supporting Black artists, this decision places the firm as a leading institution, anticipating the needs of the future.