Goldman Sachs has unveiled a substantial $500 million commitment to create an AI research institute tailored for small businesses, concurrently expanding its '10,000 Small Businesses' initiative. This strategic move is designed to furnish an extra 10,000 small enterprises with educational resources, access to financing, and comprehensive support services. The institute will join forces with industry leaders like Anthropic, Google, Meta, and OpenAI, to facilitate the seamless integration of AI technologies into the day-to-day operations of U.S. small businesses.

Among the specific collaborative efforts, there will be a partnership with OpenAI to deliver bespoke AI training programs for businesses in collaboration with community colleges. Additionally, a collaboration with Google will see the provision of AI professional certificate courses to approximately 20,000 small business owners and their staff, accompanied by a complimentary three-month subscription to Google AI Pro. Goldman Sachs has emphasized that this initiative is geared towards bolstering the AI application proficiency of small businesses and fostering their growth and expansion.