Goldman Sachs Pilots Autonomous Coder, Signaling AI's Wall Street Evolution

Goldman Sachs has taken a significant leap in technology by piloting its first autonomous coder, an AI program named Devin, developed by the startup Cognition. This initiative marks a pivotal moment for the financial industry, as it represents an evolution in the role of AI within corporate structures. The testing of Devin, which was reported on July 11, 2025, demonstrates the bank's commitment to integrating advanced AI technology that goes beyond traditional support roles to execute complex tasks typically managed by human engineers.

According to Marco Argenti, Goldman Sachs' Chief Technology Officer, the firm plans to integrate Devin into its workforce, potentially employing hundreds to thousands of these autonomous coders alongside its 12,000 human developers. “We’re going to start augmenting our workforce with Devin, which is going to be like our new employee who’s going to start doing stuff on behalf of our developers,” Argenti explained in an interview with CNBC. This transition highlights the rapid adoption of agentic AI—an AI that can not only assist but also perform intricate multi-step tasks, such as building applications autonomously.

The emergence of Devin aligns with broader trends in the finance sector, where firms like JPMorgan Chase and Morgan Stanley have recently introduced cognitive assistants to enhance employee productivity. Notably, tech giants such as Microsoft and Alphabet have reported that AI is already responsible for generating approximately 30% of code in some projects, with Salesforce CEO Marc Benioff noting that AI manages up to 50% of tasks at his company. This acceleration in AI adoption suggests a transformative impact on workforce dynamics, particularly in high-stakes environments like Wall Street.

Historically, the integration of AI into financial services has been met with both excitement and trepidation. As banks worldwide look to cut costs and improve efficiency, the potential for job displacement looms large. A report by Bloomberg in January predicted that up to 200,000 jobs could be eliminated in the banking sector over the next three to five years due to AI advancements. This reality raises questions about the future of employment within the industry and the necessary skill sets for engineers and other roles.

While the rise of AI might evoke concerns regarding job security, Argenti envisions a cooperative future where humans and AI coexist in a hybrid workforce. “It’s really about people and AIs working side-by-side,” he stated. Engineers will need to adapt by learning to articulate problems clearly and supervise AI-generated outputs, suggesting a shift in skill requirements for future software development roles.

The Cognition Labs startup, founded in late 2023, is valued at nearly $4 billion and has gained notable investment from venture capitalists such as Peter Thiel and Joe Lonsdale. The rapid growth and development of Cognition highlight the competitive nature of the AI landscape, especially as it pertains to financial services.

In conclusion, Goldman Sachs’ pilot program with Devin exemplifies a significant trend in the financial sector—one where AI is set to redefine the traditional roles of software developers and potentially transform workforce structures. As the industry continues to embrace advanced technologies, the implications for productivity, job security, and the nature of work itself are profound. Stakeholders in the financial services sector must navigate these changes carefully to balance the benefits of AI integration with the societal impacts of workforce displacement.