Goldman Sachs Group Inc. told staffers to expect an additional round of job cuts this year as the bank seeks further savings across its businesses and takes advantage of the opportunities presented by artificial intelligence.
In the note to staff, which announced the launch of the bank’s “OneGS 3.0” strategy, top executives touted the efficiency gains produced by AI as a path to more growth. They added that it would be a “multiyear effort” to implement AI in areas such as client on-boarding, lending processes, regulatory reporting and vendor management.
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