Goldman Sachs is making headlines by testing its first autonomous AI software engineer, marking a major milestone in the financial sector’s adoption of advanced artificial intelligence.
The AI program, named Devin, was developed by AI startup Cognition and is being introduced to work alongside Goldman’s team of over 12,000 human developers. According to Goldman Sachs Chief Information Officer Marco Argenti, Devin will start by supporting engineers with routine tasks and could eventually scale to hundreds or even thousands of instances depending on business needs.
“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,” said Argenti.
Devin gained attention in tech circles last year after Cognition announced it had created the world’s first AI software engineer capable of handling complex, multi-step assignments with minimal human input. Demo videos showed Devin operating as a full-stack engineer, building and managing entire applications independently.
This move reflects the rapid evolution of AI across industries. While many Wall Street firms recently adopted AI-powered assistants for basic tasks like summarizing documents or drafting emails, Devin represents a new generation of agentic AI — systems capable of completing entire workflows from start to finish.
Argenti noted that AI like Devin could potentially increase developer productivity by up to three or four times, significantly beyond the capabilities of earlier AI tools. At Goldman Sachs, Devin will take on tasks that developers often find repetitive, such as updating internal systems to newer programming languages, while remaining under human supervision.
Goldman is currently the first major bank to test Devin, according to Cognition. The startup, founded in late 2023 by a group of engineers, has quickly made a name for itself with a team of top-tier coders. In March, Cognition’s valuation reportedly reached $4 billion, backed by notable investors including Peter Thiel and Joe Lonsdale.
However, Goldman Sachs has no financial stake in Cognition, as confirmed by a source familiar with the matter.
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