Ai Is Doing 95% Of The Work On An Ipo Prospectus, Goldman Sachs Ceo Says

insider@insider.com (Bianca Chan), Business Insider
Fri, 01/17/2025 - 1:49pm

Goldman Sachs' New York headquarters.Photo by Michael M. Santiago/Getty ImagesGoldman Sachs CEO David Solomon spoke at the Cisco AI Summit this week.He said AI was changing processes like drafting IPO filings and analyst research.Efficiency gains rely on the execution of employees changing their processes.One of Wall Street's top bosses just gave a revealing look into how AI is changing the lives of bankers and analysts in its investment bank.Ten years ago, when Goldman wanted to win the business of a company going public, it would appoint a team of about half a dozen people who over two weeks would draft a prospectus known as an S-1, a significant regulatory document that details the business, financials, and risk factors, among other things.

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AI is doing 95% of the work on an IPO prospectus, Goldman Sachs CEO says
The ways AI is changing the work of bankers and analysts just got clearer at the Wall Street bank.
01/17/2025 - 7:49 am | View Link
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Goldman Sachs CEO says that AI can draft 95% of an IPO prospectus in minutes
It used to take two weeks for a team of six bankers to do the same task, Goldman Sachs CEO David Solomon said.
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Speaking at the Cisco AI Summit in Palo Alto, Goldman Sachs chief David Solomon had said that the bank is using AI to help draft IPO documents.
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AI can draft 95% of IPO prospectus: Goldman Sachs CEO
In a bold claim, Goldman Sachs CEO David Solomon has said that artificial intelligence (AI) can draft an IPO (initial public offering) prospectus. According to Financial Times, Solomon said that AI ...
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Ai Is Doing 95% Of The Work On An Ipo Prospectus, Goldman Sachs Ceo Says

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