Goldman Sachs Hires AI Software Engineer to Boost 12,000 Developers' Productivity

Goldman Sachs has introduced Devin, an autonomous AI software engineer developed by Cognition Labs, to augment its 12,000-person developer workforce by handling complex, multi-step coding tasks with minimal human supervision. Devin, functioning as a full-stack developer, can independently write, debug, test, and update code, with the goal of boosting productivity three to four times compared to older AI tools. The bank has deployed hundreds of Devin instances and plans to expand to thousands, emphasizing a hybrid workforce model where human engineers oversee AI agents and focus on higher-value problems. While Devin is expected to relieve developers from routine tasks and accelerate software development, early testing has revealed mixed results, with the AI sometimes struggling with more complex assignments. Goldman Sachs continues hiring human engineers, underscoring that AI is intended to augment rather than replace human roles, although concerns remain about the potential impact of AI on entry-level jobs. The firm sees this initiative as a pioneering step toward large-scale AI-human collaboration in the financial sector.