Change of the Work Methods of the Board Members

Goldman Sachs Group Inc. (NYSE:GS) CEO David Solomon stated that the proliferation of artificial intelligence across global industries is reshaping the way businesses operate.

In a statement to CNBC last month, Solomon noted that technology is shaping the workforce, but the current changes are happening faster than previous transitions in the workplace. Executive board members are pursuing ways to enhance capacity by simplifying tasks through automation.

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Solomon said, “Almost every CEO I talk to in nearly every sector is focused on rethinking business processes and finding ways to create efficiency and productivity through automation.” He emphasized that automation has become a central priority due to businesses' desire for faster and more efficient operations.

In this context, Solomon noted that in his opinion, the speed at which adopters are evaluating how AI systems can perform functions that traditionally required large teams is increasing.

According to Solomon, this change is no longer limited to technology companies. Retailers, manufacturers, logistics firms, and financial institutions are investing in automation tools in an environment where competition and speed are increasing.

Solomon stated that the speed of implementation of automation processes within companies has notably increased, acknowledging that challenging transitions may arise, but expressed that firms are beginning to learn how to adapt as they test new workflows.

As a case in point, Solomon pointed to Goldman Sachs, noting that twenty-five years ago, there wasn't a large engineering staff at the bank. Today, about 13,000 engineers work on software platforms, trading technology, and digital services used within the company. He said this change demonstrates how the roles banks support customers and internal teams with automated tools have evolved.

Solomon concluded, “At the end of the day, we have an incredibly flexible and agile economy. We have a great ability to adapt and adjust,” sharing his optimism about how this transition will unfold. While acknowledging that some responsibilities may change, he anticipates increased investment in the long run.

Additionally, he emphasized how automation will expand work capacity from a cyclical perspective.

Microsoft Corp. (NASDAQ:MSFT) CEO Satya Nadella also addressed the workplace shift towards AI-powered systems in a letter to shareholders last month. In his letter, he described a “platform shift in artificial intelligence” that alters work patterns and how employees will support advanced tools. Nadella noted that managing the change will be crucial as productivity increases.

Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang shared a similar perspective, stating that artificial intelligence represents the beginning of a new “industrial revolution,” comparing this era to previous ones powered by steam and electricity.

Based on these perspectives, Solomon stated that as companies integrate AI, the economy will continuously adapt, and workers will take on different responsibilities. “If you have a three-to-five-year outlook, this gives us the capacity to invest more in our business,” he said.