Goldman Sachs has officially deployed Devin, the world’s first fully autonomous AI software engineer, developed by Cognition Labs.
The bank’s Chief Information Officer Marco Argenti confirmed that Devin will begin working “on behalf of our developers,” executing routine coding tasks and automating legacy system updates.
Initially, Goldman plans to deploy hundreds of Devins, with the potential to scale into thousands, depending on use cases.
This marks the first time a major financial institution has integrated an agentic AI—a system capable of independently executing multistep tasks—into its core tech operations.
What Devin Can Do for Goldman Sachs: From Bug Fixes to App Development
Launched in March 2024, Devin has already passed engineering interviews at leading AI firms and completed freelance jobs on platforms like Upwork.
Cognition Labs describes Devin as a “tireless, skilled teammate” capable of:
- Building applications end-to-end
- Debugging production codebases
- Updating internal code to newer programming languages
- Fine-tuning AI models
- Automating repetitive software functions
Goldman Sachs expects Devin to boost productivity by 3–4x compared to previous AI tools, freeing up its 12,000 human developers to focus on strategic and creative problem-solving.
Implications for Tech Talent and Entry-Level Roles at Goldman Sachs
While Goldman emphasizes a hybrid workforce model, where humans and AI collaborate, the deployment of Devin raises concerns about job displacement.
According to Bloomberg Intelligence, banks could eliminate up to 200,000 jobs globally over the next 3–5 years due to AI-driven automation.
Entry-level roles—especially those involving routine coding and research—are most vulnerable.
Marco noted that engineers will need to evolve into prompt engineers, capable of framing problems and supervising AI agents.
Wall Street’s AI Arms Race
Goldman’s move is part of a broader trend among financial giants embracing AI.
JPMorgan Chase and Morgan Stanley have already deployed generative AI assistants for internal use, but Goldman is the first to adopt a start-to-finish autonomous coding agent.
Cognition Labs, backed by investors like Peter Thiel and Joe Lonsdale, reached a $4 billion valuation in early 2025.
Devin has outperformed traditional LLMs on coding benchmarks, demonstrating strong theoretical capabilities.
However, real-world testing revealed mixed results, with only 3 out of 20 tasks completed successfully in one study.
Future Outlook: Augmentation Over Replacement
Despite fears of job loss, Goldman Sachs maintains that Devin will not handle critical financial tasks and will operate under human supervision.
The bank envisions a future where AI augments human capabilities, not replaces them—at least until Artificial General Intelligence (AGI) becomes viable.
Wall Street’s push toward automation is accelerating rapidly.
Devin’s deployment could become a blueprint for how agentic AI transforms enterprise software development, talent strategy, and operational efficiency.
Note: We are also on WhatsApp, LinkedIn, Google News, and YouTube, to get the latest news updates. Subscribe to our Channels. WhatsApp– Click Here, Google News– Click Here, YouTube – Click Here, and LinkedIn– Click Here.
