GSThe Goldman Sachs Group, Inc.

“Obviously, the LLM are making rapid progress, and we're hyper-aware of the enhanced capabilities of these new models. With the help of the U.S. government and the model publishers, we are very focused on supplementing our cyber and infrastructure resilience and this is part of our ongoing capabilities that we have been investing in and are accelerating our investment in. We're aware of [indiscernible] and its capabilities. We have the model. We're working closely with Anthropic and all of our security vendors to kind of harness frontier capabilities wherever it's possible, and this will continue to be an important focus”

“we are thoughtfully building out our One Goldman Sachs 3.0 work streams, and our early learnings have reinforced the need to double down on the foundational elements of our infrastructure. We are, therefore, accelerating our investments in cloud migration, and in the accuracy, completeness and timeliness of our data. These investments are critical to optimizing the deployment of AI solutions across the firm, which will allow us to unlock greater productivity and efficiency opportunities over time.”

“clients seek our views and analysis around a range of topics, including AI, and we were able to speak to these trends from firsthand experience as we thoughtfully implemented new technologies across our 6 initial work streams and around the firm more broadly. We remain confident that over time, One GS 3.0 will drive stronger operating leverage, greater resilience and improved efficiency and returns and allow us to continually elevate service to our clients.”

“I am hugely forward leaning on the power of this technology to accelerate growth and efficiency in Goldman Sachs allow us to more aggressively invest in growth in areas of our business where, for a variety of reasons, over the course of the last 5 years, we've been more constrained than I think we're going to be for the next 5 years. I think this is true not only with Goldman Sachs, I think this is true with lots of other businesses with enterprises broadly, and as enterprises take advantage of that, that spurs activity that feeds in the Goldman Sachs ecosystem. So I do think as in other technology supercycle, this is extraordinarily constructive for Goldman Sachs.”

“the macro environment started to weigh on sentiment, volatility increased meaningfully with concerns around AI-driven disruption, sectors like software, heightened uncertainty in parts of private credit and the conflict in the Middle East.”

“the more we focus and do work on it, we appreciate that having greater capacity to migrate activities to the cloud and to harness a lot of value from data sense orders for investment now to drive unlock in future periods.”

“The combined effects of fiscal stimulus and developed economies, ongoing AI-related capital investment and a more balanced regulatory agenda in the U.S. are powerful forces.”