Lloyd Blankfein

You lose intuition in these things.

You used to, when I started out in the business,

You know, people would be shrieking at each other, noisy trading rooms, blah, blah, blah.

People would be fighting with their wives or their husbands.

You know, they were sitting at the desk.

At the same time, people were transacting.

But if somebody said the wrong price or did a trade backwards, bought something when he should have said sold, the whole room would come to a dead stop and you'd hear it.

And today...

You don't have that intuition because everything is whirring behind the scenes and you don't get the trail or the thought process of these things.

That's a problem.

The leverage in these things is themselves a big problem.

So before this technological age, not just AI, but in general,

Could you have had a mistake that could cost billions of dollars?

Not really.

Right.

Because your intuition, you wouldn't.

But now you can leave a piece of software, could go out and do 70,000 transactions.

Or even industrially.

I think the biggest industrial accident that we ever had was in Bhopal.

You know, terrible.