Goldman Says Young Bankers Are Still Core, But AI Is Changing What That Means
CEO David Solomon acknowledges time allocation and staffing may evolve as generative AI absorbs portions of entry-level banking work
When David Solomon was asked about artificial intelligence and jobs, he said young workers will remain “a huge, core part of Goldman Sachs” on CNBC. He added that “the number might change” and that “how they focus their time will change”.
The remarks come as the unemployment rate for 22- to 27-year-old college graduates stands at 5.6%, compared with roughly 3.1% for college graduates overall, according to data from the Federal Reserve Bank of New York. Entry-level professional roles are widely associated with tasks that can be automated.
Reporting from Bloomberg Businessweek described junior bankers using AI tools in daily work. At Morgan Stanley, analyst Hailey Mullen used AI to analyze and synthesize two financial models, including one with more than 40 tabs, in a few hours. At Bank of America, investment banking associate Corey O’Neill said managing directors use AI tools to prepare for client meetings by aggregating filings and press releases in minutes. At Fifth Third Bancorp, analyst Matthew Laborde said he uses AI to explain sector terminology and generate Excel formulas.
The analyst role remains a standard entry point into investment banking. The tasks associated with that role are changing.
The Base Layer of Banking Work Changes
Investment banking has long relied on junior analysts to build financial models, format presentations, reconcile spreadsheets and compile precedent transactions.
AI tools now perform portions of those tasks.
In June 2025, Reuters reported that Goldman Sachs launched a firm-wide generative AI assistant for employees, according to an internal memo. Coverage stated the assistant can help with coding, document summarization and translation.
On Goldman’s fourth-quarter 2025 earnings call, executives said AI and related technology are being used to drive productivity and efficiency across the organization, with employees using tools to “make themselves more productive” and support operating process changes.
The Bloomberg examples describe similar uses across banks. Mullen used AI to compare methodologies across dense spreadsheets. O’Neill described AI-assisted meeting preparation. Laborde used AI to construct Excel formulas and organize information.
Broader surveys show AI adoption expanding across finance functions. McKinsey reported that 88% of organizations now use AI in at least one business function, and roughly one-third have begun scaling AI programs beyond pilot stages. In a separate survey, 44% of CFOs said they used generative AI for more than five use cases in 2025, up sharply from prior years.
Solomon said “how they focus their time will change” and that “the number might change.” His comments followed the firm’s rollout of a generative AI assistant and broader integration of automation tools across workflows.
The reduction in time spent on mechanical tasks alters how early-career bankers allocate hours across assignments.
The Apprenticeship Architecture Is Shifting
Large analyst classes supply associate and managing director ranks across investment banks.
Solomon said “talented, motivated people that want to serve clients are always going to be a part of professional services businesses.” He referenced earlier technological changes in finance, including research conducted in libraries and the use of pagers before mobile phones.
Goldman’s AI deployment includes internal and client-facing systems. Goldman has also added generative AI features and semantic search capabilities to its Marquee platform. In published research, Goldman wrote about projected AI-related investment spending and market impact.
Consulting firms have reported similar workflow redesign across industries. A 2025 BCG survey found companies moving beyond isolated AI productivity use cases toward end-to-end workflow changes. An EY CEO survey cited by Business Insider found 60% of financial services leaders expect AI investments to maintain or increase headcount rather than reduce it.
Bloomberg’s reporting also described junior bankers organizing AI tool sessions and assisting colleagues with adoption. O’Neill said senior staff increasingly use AI tools for meeting preparation.
There is no public evidence that Goldman has reduced analyst class sizes in response to AI. The company has not announced formal changes to analyst training programs.
AI tools are being incorporated into financial modeling, document preparation and research workflows. The analyst role remains in place as AI becomes embedded in daily operations across large banks.