Goldman Sachs just launched Devin, an AI-powered software engineer that codes solo—no coffee breaks or office parties. Devin handles full coding tasks on its own, aiming to boost productivity three to four times over past AI tools, according to Goldman’s CIO, Marco Argenti.
Argenti told CNBC:
“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 the behalf of our developers.”
Goldman plans to roll out Devin by the hundreds or even thousands, joining its 12,000 existing software engineers. Argenti says this move kicks off a “hybrid workforce” era where humans and AI collaborate.
“It’s really about people and AIs working side by side,” Argenti said. “Engineers are going to be expected to have the ability to really describe problems in a coherent way and turn it into prompts…and then be able to supervise the work of those agents.”
Despite Devin’s arrival, Goldman is still hiring software engineers globally, with New York–based associate roles starting around $115k and up to $180k annually.
But executives worry AI could wipe out many entry-level white-collar jobs. Anthropic CEO Dario Amodei predicts AI could eliminate half of all entry-level roles within five years. Ford CEO Jim Farley warned at the Aspen Ideas Festival that AI might kill all U.S. white-collar work, not just entry-level gigs.
“There’s more than one way to the American Dream, but our whole education system is focused on four-year [college] education,” Farley said. “Hiring an entry worker at a tech company has fallen 50% since 2019. Is that really where we want all of our kids to go? Artificial intelligence is gonna replace literally half of all white-collar workers in the U.S.”
Bloomberg reports the banking sector could shed 200,000 jobs in 3-5 years due to AI. Argenti says workers ignoring AI risk falling behind.
“The AI shift is happening in years, not decades,” Argenti wrote for Fortune. “Workers who lack proficiency in leveraging AI tools will fall behind, and those who have learned to harness it to elevate their work will advance.”
