Goldman Sachs GS has firmwide launched GS AI Assistant,  a tool driven by generative AI, according to an internal memo seen by Reuters.

Details of GS's AI Assistant

The GS AI Assistant, already in use by approximately 10,000 employees, is now accessible across the company. The assistant, powered by generative AI, is built to improve productivity by helping employees summarize reports, draft content, analyze datasets, and translate documents. It is tailored to meet the needs of employees in different functions, including investment banking, software development, research analysis, and asset and wealth management.

According to the internal memo, the GS AI assistant will help Goldman employees in "summarizing complex documents and drafting initial content to perform data analysis."

Our Take on GS's Digital Transformation Efforts

The launch of GS AI Assistant marks a significant milestone in Goldman Sachs’ digital transformation, demonstrating the company’s commitment to integrating advanced technology across its operations. By scaling generative AI firmwide, the company intends to enhance productivity, streamline workflows, and maintain a competitive edge in the financial sector.

GS's Price Performance & Zacks Rank

Shares of GS have gained 44.7%, outperforming the industry’s growth of 34.2% in the past year.

Image Source: Zacks Investment Research

Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Finance Firms Taking Similar Steps

In May 2025, Deutsche Bank DB embarked on a digital transformation drive, focusing on cloud migration, artificial intelligence (AI), and automation to enhance operational efficiency and client services. In sync with this, DB has collaborated with International Business Machines IBM and finaXai, a Singapore-based AI company.

By leveraging IBM’s innovative technologies, Deutsche Bank aims to streamline workflows, reduce operational costs and improve efficiency across all areas of its business. Further, a strategic partnership with finaXai is expected to significantly expand Project DAMA 2 — DB’s public-permissioned multi-chain asset servicing pilot.

In March 2025, Citigroup Inc. C unveiled Citi AI, a range of artificial intelligence tools aimed at enhancing internal processes for Hong Kong employees. Citi AI aims to maximize efficiency in operations by offering support in information retrieval, document summarization, and writing electronic communications for employees.

As of March 2025, Citigroup AI was made available to approximately 150,000 employees across 11 countries, including the United States, India, and Singapore. C plans to expand availability to more markets this year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

The Goldman Sachs Group, Inc. (GS) : Free Stock Analysis Report

Citigroup Inc. (C) : Free Stock Analysis Report

International Business Machines Corporation (IBM) : Free Stock Analysis Report

Deutsche Bank Aktiengesellschaft (DB) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research