Goldman Sachs Embraces AI Software Engineer Devin for Wall Street Operations

Goldman Sachs is pioneering the integration of AI into its workforce by deploying hundreds of Devin AI software engineers, developed by startup Cognition. The MOVE signals a shift from basic AI chatbots to advanced systems capable of executing complex, multi-step engineering tasks.

Devin, showcased last year through demonstrations of autonomous full-stack development, represents a leap beyond the language models currently used by banks like JPMorgan Chase and Morgan Stanley. Goldman's CIO Marco Argenti envisions scaling to thousands of AI agents, augmenting the bank's 12,000 human engineers.

Cognition, backed by prominent investors including Peter Thiel, has seen its valuation double within a year of launching Devin. The technology's ability to handle tasks traditionally requiring entire engineering teams positions it as a transformative force in financial sector automation.