Bracha Cohen is at the forefront of the AI revolution on Wall Street – and how young people can participate in it.
“I would say to the new generation of graduates, in this world where AI is so transformational, to develop their judgment and not just skills“, said Cohen, asset and wealth management engineering partner. “AI can automate execution, but it cannot completely replace decision-making, systems thinking and ethical reasoning.”
Cohen joined Goldman as a programmer in 1994, long before anyone had to prove their mastery of AI on its applications. She said having worked in a variety of roles in different industries helped her become a partner, the firm’s principal. senior leaders.
Today, its team of asset management engineers is focused on automating operations to help the company scale, including through AI. Currently, the booming business — which holds a record $3.6 trillion in assets – uses AI for routine work, like analyzing and summarizing data, Cohen said.
As white-collar hiring slows and concern about AI in junior positions increases, Cohen said young engineers should focus less on simply completing tasks and more on making systems work. Mastering the fundamentals of engineering is essential, she said, because AI should serve “as a lever, but not a crutch.”
Bracha Cohen is a partner and engineer at Goldman Sachs. Goldman Sachs
She added that computer science students should practice assessing risks and developing good questions, both for others and for AI models. Two other Goldman partners have also previously said that interpersonal skills and communication are becoming increasingly crucial in the AI workplace.
And engineers who want to work on AI in particular have their own set of criteria. Dan Popescu, newly promoted managing director and head of AI engineering for asset management at Goldman, previously told Business Insider that the most competitive hires need a set of skills: Knowledge of AI engineering, finance and traditional software engineering.
Goldman spent $6 billion on technology last year and deployed internal AI tools, including an assistant and a limited banker co-pilot. In an October note, the company presented the latest phase of its OneGS Initiativewhich he says will improve efficiency, slow hiring and create a “limited reduction” in positions.
CEO David Solomon is one of several major bank executives who have said that in the long term, A.I. will not reduce the number of people, and that the company must focus on attracting higher quality talent.