Goldman Sachs – AI Era, 2023

AI technology has been rapidly advancing in recent years, with breakthroughs in computing power, model architecture, and data collection. These advancements have led to AI surpassing human benchmarks in various tasks such as reading comprehension, speech recognition, and language understanding. The user-friendly interfaces of early AI platforms have also made the technology accessible to the masses. Goldman Sachs believes that we are now at a pivotal point where AI is set to transform every industry, sector, and job function. This is not just a normal progression but a significant shift that decision makers, investors, and the wider public need to pay attention to. The mass adoption of Generative AI, with OpenAI's ChatGPT being introduced to the public in November 2022, has led to a rapid pace of change and strategic decision-making comparable to the advent of the Internet and mobile technology. In fact, the total market capitalization for Goldman Sachs' basket of AI winners increased by 75% in 2023. Venture capitalists are eager to invest in the next disruptive AI startup, public market investors are seeking to understand how AI will impact various sectors, and companies are working to grasp how AI will fundamentally alter their strategic landscape. This highlights the significance and potential of AI in shaping the future of business and society.