Goldman Sachs is reshaping the future of software development with the deployment of Devin, an AI software engineer developed by London-based startup, Cognition. This is a sign of how major financial institutions are changing the way they handle coding and tech operations, embracing automation at an unprecedented scale.
The bank plans to introduce hundreds of these AI coders initially, with the intention to scale the deployment to thousands. Devin is designed to perform repetitive and time-consuming tasks such as updating legacy systems and automating basic software functions—work that is typically handled by junior engineers.
The objective is to dramatically improve development speed and efficiency.
Currently, Goldman Sachs employs around 12,000 human software developers. The addition of AI engineers such as Devin is expected to boost productivity by three to four times compared to previous AI tools. Human developers will likely move toward more strategic roles, while AI systems handle routine work.
However, the rise of AI coders comes with broader implications for the job market. Industry analysts estimate that up to 2,00,000 jobs in banking could be at risk globally over the next three to five years due to AI-driven automation.
Entry-level roles are especially vulnerable, as many involve exactly the type of tasks now being handed over to AI systems.
Goldman Sachs envisions a hybrid workforce where human engineers and AI work side by side. The expectation is for professionals to shift their focus toward problem framing, prompt engineering, and collaborative oversight. While high-value roles that require human judgment, creativity, and relationship-building are expected to remain intact, AI software engineers will clearly transform the tech talent landscape quite soon.