Goldman Sachs launches AI investing platform AlphaAI

Goldman Sachs The Goldman Sachs Group, Inc. ↘ 1.75% Asset Management has launched an artificial intelligence investing platform called AlphaAI, positioning the Wall Street giant to use AI as a core driver of returns across its public and private market businesses.

Lou D'Ambrosio will lead AlphaAI as chairman of Artificial Intelligence for Asset Management, according to an internal memo seen by Reuters. D'Ambrosio previously founded and led the firm's Value Accelerator in 2018 and chairs its AI Investing Leadership Council.reuters+1

"We believe AI is both reshaping industries and acting as a force multiplier in how we invest," Marc Nachmann, global head of Goldman's asset and wealth management arm, said in the memo.thestandard+1

Leadership Changes

Darius Adamczyk, who co-led the Value Accelerator alongside D'Ambrosio, will assume global leadership of that business, which helps portfolio companies grow by leveraging Goldman Sachs's network. D'Ambrosio previously served as CEO of both private and public companies, including roles at Avaya and Sears.growth.gs+2

Industry-Wide AI Push

The launch comes amid a broader surge in AI investment across the financial sector. A study released this week by Clearwater Analytics found that a majority of global asset management firms plan to raise their AI budgets by at least 50 percent within the next year. Among those surveyed, 62 percent of fund managers expect transformative change in data generation and summarization, while 58 percent pointed to effects on decision-support systems including portfolio rebalancing.scmp

"What's striking is that AI adoption is forcing fund managers to confront the fundamentals of data management in a way nothing else has," said Souvik Das, chief technology officer at Clearwater Analytics.scmp

Goldman's AlphaAI is designed to work across both public and private markets, with the latter representing a more complex operational challenge for AI-driven strategies.kucoin