Goldman Sachs Pilots AI Engineer 'Devin' to Boost Productivity

Goldman Sachs has begun piloting Devin, an autonomous AI software engineer developed by Cognition, marking a major step in Wall Street’s adoption of advanced agentic AI. Announced by CIO Marco Argenti, the initiative aims to integrate Devin into the bank’s 12,000-strong developer workforce, positioning the AI as a productivity multiplier and a potential game-changer in enterprise software development.

Introduced in 2024, Devin is touted as the world’s first AI full-stack developer, capable of performing complex, multi-step tasks such as building entire applications. At Goldman, Devin will initially be tasked with routine work like updating legacy code, freeing human engineers to focus on higher-value, strategic tasks.

Argenti envisions deploying “hundreds, eventually thousands” of Devin units, expecting a 3x to 4x boost in productivity over traditional AI tools that were mostly limited to simpler functions like document summarization. This move reflects a broader shift in AI utilization—from assistive tools to autonomous agents capable of end-to-end execution.

The bank’s adoption of Devin signals a transition toward a hybrid workforce, where human developers will primarily focus on problem formulation and oversight, while AI handles implementation. This model emphasizes skills like prompt engineering and system orchestration over traditional coding.

However, the rollout raises concerns about potential job displacement, particularly for junior software roles. Analysts warn that as such tools scale, demand for entry-level developers may shrink significantly.

Successful integration will hinge on Devin’s reliability, security, and adaptability within Goldman’s highly regulated and complex IT environment. As one of the first major financial institutions to embrace autonomous AI coders, Goldman Sachs could pave the way for broader adoption across Wall Street, prompting competitors to follow suit in the race for AI-driven efficiency.