Goldman Sachs Group (GS) is testing an AI-powered coding tool developed by startup Cognition to join the company's 12,000 human developers, CNBC reported Friday, quoting Goldman's tech chief, Marco Argenti.
The program, named Devin, will essentially operate as an autonomous software engineer and has displayed capabilities to operate as a full-stack engineer, completing multi-step assignments with minimal intervention, CNBC said.
"We're going to start augmenting our workforce with Devin, which is going to be like our new employee who's going to start doing stuff on the behalf of our developers," Argenti told CNBC in an interview. "Initially, we will have hundreds of Devins [and] that might go into the thousands, depending on the use cases," he said.
This form of AI has the potential to boost worker productivity by up to three or four times the rate of previous AI tools, according to Argenti.
The program will be overseen by employees and will handle tasks that are considered drudgery by engineers, Argenti told CNBC.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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