Investment firm Goldman Sachs just implemented an AI assistant framework for employees across its entire workforce of about 46,000, marking what the bank says is a major technological leap forward for its global operations. The conversational GS AI Assistant includes a developer copilot for coding, translation tools and a nascent “Banker Copilot” aimed at streamlining investment banker workflows. The conversational GS AI Assistant also lets workers interact with large language models including ChatGPT and Gemini within the firewalled parameters of Goldman’s secure compliance software. The rollout comes after a year of pilot testing involving more than 10,000 employees.

“We have been developing AI and machine learning applications and infrastructure for a number of years, including several generative AI-powered tools that have been transforming the way we work,” Goldman Sachs CIO Marco Argenti wrote in a memo excerpted in Gizmodo.

The plans were initially disclosed in January when media outlets began reporting on the bank’s plans to deploy what Argenti called “a very simple interface that allows you to have access to the latest and greatest models,” as reported by CNBC.

The GS AI Assistant will start with simple tasks like helping Goldman knowledge workers in “summarizing complex documents and drafting initial content to performing data analysis,” then scale up, Reuters wrote earlier this year.

Gizmodo explains the strategy is “part of a quiet arms race on Wall Street, where firms like Citi, Bank of America, and Morgan Stanley are also deploying AI chatbots to automate the tedious, white-collar work that has employed legions of junior bankers for decades.”

In a related move, Conquest Planning, a financial planning firm that provides customized advice through its technology platform, says it has raised $80 million in Series B funding led by Growth Equity at Goldman Sachs Alternatives. The round attracted additional new investors, bringing Conquest’s total funding to over $100 million.

“As investors are demanding greater personalization in all aspects of their financial lives, we’ve unlocked the power of automation and real-time intelligence to bring the advice industry into the modern age,” Conquest Planning CEO Mark Evans said in an announcement, proclaiming rather boldly that “the era of inefficient and inaccurate trial-and-error-based financial planning is over.”