While global financial institutions are racing to implement artificial intelligence (AI), the banking sector is becoming one of the most dynamic fields for testing the capabilities of generative models. The latest example comes from Goldman Sachs, which — according to an internal memo seen by Reuters — officially launched an AI assistant across the entire company in June 2025.

What Goldman Sachs’ AI Assistant Brings

The AI assistant was developed within the institution itself, with high security standards and limited data access, in order to avoid the leakage of confidential information. Already in the pilot phase, it was used by more than 10,000 employees, and now it is available to all bank workers.

The assistant helps with everyday tasks:

• summarizing complex documents,

• drafting reports and presentations,

• data analysis and market research,

• automation of administrative procedures.

In addition, the tool enables access to different artificial intelligence models (so-called multi-model approach), giving employees the flexibility to choose the model that best fits their work — whether it’s investment banking, legal analysis, or software development.

No Job Losses — For Now

Unlike earlier fears that AI would lead to waves of layoffs, Goldman Sachs clearly emphasized in the internal memo that AI is not a replacement for people, but a tool that increases efficiency and frees up time for more creative and analytical tasks.

Human resources experts state that the current focus is on transforming the way of working, not reducing the number of employees. People and artificial intelligence should function as partners, with clearly defined boundaries of responsibility.

New Standards for the Entire Sector

The application of AI technology in banking sets new standards and opens key questions:

• Data security – how to protect client and internal information in an environment that uses generative models?

• Algorithm transparency – do AI tools make decisions that are verifiable and fair?

• Regulation – the European Union has already introduced the AI Act, which classifies credit scoring and insurance as "high-risk" areas of AI usage.

All of this means that banks must invest not only in technology, but also in risk management models, human oversight, and legal compliance.

StandardPrva's Opinion

From the perspective of the StandardPrva group, which brings together legal, accounting, and consulting practices, it is clear that AI is no longer an experiment but the infrastructure of modern business. Banks that implement it cautiously and with strong quality control will gain a competitive advantage — faster analyses, more precise decisions, and better customer experience.

However, there is another side of the coin. The speed of introducing new technologies must not outpace the capacity to understand them. Every algorithm must be ethical, secure, and transparent, because only in that way does client trust remain the foundation of the banking system.

Conclusion

Artificial intelligence is no longer the future — it is the present of banking. The application of the AI assistant at Goldman Sachs shows that large institutions are ready to transform their processes from within.

For other banks and financial organizations, the challenge will not be whether to use AI, but how to use it responsibly.

Author:
Miloš Stevanović
Lawyer & StandardPrva Owner
www.standardprva.ba/milos-stevanovic

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