Goldman CEO Says AI May Halt Steep Rise in Banks’ Engineer Ranks

Artificial intelligence is poised to reshape Wall Street’s decade-long drive to bolster its engineering workforce, according to Goldman Sachs Group Inc. Chief Executive Officer David Solomon.

Banks have been hiring engineers to improve operations and step up their offerings as customers become increasingly tech-savvy. But that could soon change because of the power of AI, which is enhancing banks’ ability to code, Solomon said in an interview with Bloomberg’s Odd Lots podcast.

“You’re going to see nuanced changes that probably to some degree reduce the number of people that we start with over the next few years,” Solomon said. ...