Goldman Sachs deploys AI software engineer for routine coding tasks

Goldman Sachs deploys AI software engineer for routine coding tasks

12 Jul 2025, 12:12 PM

The AI system 'Devin' will handle routine coding tasks such as updating internal code to modern programming languages.

Team Head&Tale

Share the story on

Goldman Sachs has begun testing an artificial intelligence-powered software engineer that will work alongside the bank's 12,000-strong technology workforce.

The investment bank is piloting Devin, an AI agent developed by startup Cognition, which can independently complete complex programming tasks without human intervention.

Marco Argenti, Goldman's chief technology officer, told CNBC the bank expects to deploy hundreds of these digital workers initially, with potential expansion into the thousands.

"We're going to start augmenting our workforce with Devin, which is going to be like our new employee," Argenti told CNBC.

Although supervised by human employees, the AI system will handle routine coding tasks such as updating internal code to modern programming languages.

Goldman becomes the first major financial institution to deploy Cognition's technology, which the startup bills as the world's first autonomous software engineer.

The AI system demonstrated its capabilities in public demonstrations last year, showing it could function as a full-stack developer across various programming tasks.

Technology giants including Microsoft and Alphabet report that AI now generates approximately 30% of code on certain projects, while Salesforce chief executive Marc Benioff claims AI handles half of his company's work.

Argenti, who joined Goldman from Amazon in 2019, believes this advanced AI could boost productivity by three to four times compared to previous automation tools.

Cognition, founded in late 2023 by three engineers, has attracted significant venture capital backing. The company doubled its valuation to nearly $4 billion within a year of launching Devin, with investors including Peter Thiel and Joe Lonsdale, co-founders of data analytics firm Palantir.

Bloomberg Intelligence estimates banks globally could eliminate up to 2,00,000 positions over the next three to five years as they implement AI systems. However, Argenti envisions a "hybrid workforce" where humans and AI collaborate rather than compete.

Who Reads Us

“I enjoy reading The Head and Tale for their coverage on the Fintech landscape. The reporting is incisive and honest, and it demonstrates a sharp understanding of the industry and the issues that concern it. I'd like to extend my best wishes to Arti for her continued success.”

Rahul Chari Co-Founder And CTO, PhonePe

“Well-researched, informative and analysis based reporting makes an interesting read. 'The Head and Tale' news portal has been demonstrating this quite well covering fintech and emerging tech sectors. Their timely updates, exclusive stories and different perspectives on these sectors help me stay informed. Kudos to Arti Singh for pursuing her passion and best wishes to the team.”

Rishi Gupta MD & CEO, Fino Payments Bank

“The Head and Tale stands out for its deep industry knowledge and impressive network of sources. I especially appreciate that the reporting remains independent, rarely resorting to paid puff pieces, making it a publication I can genuinely trust. Having followed Arti’s work for years, I’ve come to rely on The Head and Tale for its unparalleled insight and truly independent coverage. Arti’s long-standing presence in the sector means her reporting is always informed, with access few can match.”

Lizzie Chapman Co-founder, ZestMoney

“What I really appreciate about The Head and Tale is that it doesn’t just report the news, it interprets it. The stories are well-researched, comprehensive, and bold. Arti brings a fearless lens to reporting, often asking the uncomfortable but necessary questions. She makes you pause, reflect, and rethink what it all means for the payments and fintech ecosystem. It’s rare to find journalism that’s this sharp, timely, and relevant to the work we do every day.”

Mohit Bedi Co-founder, Kiwi

“I’ve always valued journalism that goes beyond surface-level headlines. The Head and Tale does exactly that - it connects the dots, asks the tough questions, and brings clarity to the shifts shaping our evolving industry. I’ve even encouraged my team members to subscribe, because staying informed through credible, deeply reported stories is as important as building products. For me, The Head and Tale has become part of essential reading.”