Goldman’s George Lee said AI will empower non-technical workers, including those in risk management. The history major turned tech banker said AI enhances skills like critical thinking, creativity, and logic. Banks are increasingly using AI for fraud and credit risk amid rising regulatory demands.
A longtime tech banker with a history degree says AI could be a boon for non-technical workers.
George Lee, the co-head of applied innovation at Goldman Sachs, told Bloomberg Television on Tuesday that he thinks AI will lead to the revenge of the liberal arts in the workforce.
Some of the skills that are really salient to cooperate with this new of intelligence in the world are critical thinking, understanding logic and rhetoric, the ability to be creative, Lee said. AI will allow non-technical people to accomplish a lot more — and, by the way, begin to perform what were formerly believed to be technical tasks.
Lee, a history major and Wharton School MBA graduate, sits on liberal arts-focused Middlebury College’s board of trustees. He joined Goldman in 1994 after his MBA and was previously the firm’s co-chief information officer.
Lee highlighted that AI could help people who are focused on operations and risk management as regulatory requirements intensify globally and threats like cybersecurity take center stage.
Banks are increasingly using AI for monitoring fraud and credit risk in response to the growing regulatory demands. In an annual bank risk management survey by EY and the International Institute of Finance, a majority of banks reported employing AI for these purposes.
As AI integrates into various industries, it presents both opportunities and challenges for knowledge workers. While it may streamline tasks and enhance productivity, there are concerns about the potential displacement of certain roles, such as junior investment bankers who could see significant changes in their responsibilities and compensation.
Despite these changes, banks like Goldman Sachs are exploring ways to leverage AI to improve efficiency without reducing their workforce, emphasizing a balance between technological advancements and human expertise.
