Goldman Sachs' fondness for technology expands with their latest testing of "Devin," the AI coding agent from Cognition which went viral last year because of its capabilities as well as its shortcomings.

The financial institution claims that it will treat Devin like it is a new employee joining the company, and it will work alongside its existing workforce and help improve their operations.

Goldman Sachs Tests 'Devin' AI from Cognition

According to Goldman Sachs Chief Information Officer (CIO) Marco Argenti in an interview with CNBC, the bank is now testing the use and deployment of Devin, an artificial intelligence system from Cognition. The company has tasked Devin to help its employees in writing code and developing their software with them, looking to improve the experience for its customers.

TechCrunch reported that the bank currently has around 12,000 human employees who are tasked to do the same job as Devin, with the AI coding agent from Cognition working alongside them.

It was also revealed by the report that Cognition's Devin blew up after its release last year, seeing a significant trend on social media for its coding capabilities. However, the AI program was not perfect as several researchers found it struggling in more complex coding work.

Treats AI Coding Agent as 'New Employee'

According to the bank's CIO, they will treat the Devin AI as a "new employee" within the company, highlighting the humans and technology's cooperative work to improve their software.

Argenti said that it will be a "hybrid" setup where humans and AI work side-by-side, and the technology would not be replacing their workforce.

Goldman Sachs and Its AI Tech

Goldman Sachs is first and foremost, a company known for their financial operations as one of the world's most recognizable and trusted banks, but they are also known for their renowned adoption of new technology.

Since the era of AI blew up, Goldman Sachs has ventured into testing the use of AI to help them write code, tasking a generative AI for this intensive process.

The company has also expanded on using more next-generation technology to power its systems. In one case, Goldman Sachs shared an AI-powered networking platform called "Louisa" for its employees, with this experience serving as a new kind of social media to better connect employees and promote more collaboration.

Goldman Sachs has also partnered with Apple to launch a different kind of fintech experience with the Apple Card as well as a savings account for Apple users.