David Solomon

the acceleration of great companies here in these markets.

Well, I think, you know, the business of work is getting transformed by AI broadly, and...

You know, we are, at our heart, we're a professional services firm.

If you think about Goldman Sachs and the value it brings to its clients, its value is deployed really among three different things.

People, capital, technology.

And so, if you think about AI, you know, AI really allows smart, talented, driven, sophisticated people to be more productive, to touch more people, to have better information at their disposal, better analysis.

I mean, this is a journey we've been on

This technology accelerates it, but when I started 42 years ago and I wanted to look at five different companies and think about how to compare the trading in five different companies, I had to go to the library, I had to go to the microfiche, I had to spend hours really thinking about how to put that comparison together.

Obviously today you can do it in a fraction of a second speaking into your phone.

So this journey in providing tools to super productive people and giving them more capacity to serve their clients and to be more productive is obvious, and we've been working on all those tools as most enterprises have.

I think the more interesting thing for enterprises broadly, and this isn't unique to Goldman Sachs, because the world is underpinned by technology.

Coding is time consuming, but this technology allows

you to code with greater productivity and efficiency.

So one great coder now with a tool such as Cognition Labs Denim, really creates massive coding capacity for one coder as opposed to having 10, 20 people sit around for a few days.

So big productivity there.

And then, of course,

When you think about operational systems in any business, the ability to accelerate automation and therefore drive more productivity, it's not just a cost exercise.

It's actually about taking that productivity and having more capacity to reinvest in growth in your business.

We'll spend $6 billion on technology this year.

I would have liked to spend eight, but I can't afford it because I've got to deliver returns.