Goldman Sachs Trials AI Coder Devin for Software Development

Goldman Sachs is piloting an AI-powered coder named Devin, developed by the AI startup Cognition. This autonomous software engineer is expected to join the firm's team of 12,000 human developers, marking a significant milestone in AI adoption on Wall Street.

Devin, known for its ability to operate as a full-stack engineer, can complete complex multi-step assignments with minimal human intervention. Initially, Goldman Sachs plans to deploy hundreds of Devins, potentially expanding to thousands based on use cases. The AI coder will handle tasks often considered tedious by human engineers, such as updating internal code to newer programming languages.

This initiative reflects a broader trend of AI integration in the financial sector, with other major firms also exploring cognitive assistants and agentic AI. While the adoption of AI tools like Devin raises concerns about job security, Goldman Sachs envisions a hybrid workforce where humans and AI work collaboratively. The firm's Chief Information Officer, Marco Argenti, emphasizes the potential for AI to significantly boost productivity, suggesting that engineers will need to adapt by learning to supervise AI agents effectively.