Goldman Sachs, a major investment bank, has hired a new kind of employee that could change the job market for engineering graduates — an AI software engineer named Devin. This AI doesn’t need sleep, doesn’t take breaks, and doesn’t ask for a salary. It was created by a London-based company called Cognition.
The bank is starting with a few hundred of these AI coders and plans to bring in thousands more. Devin will be used to support human developers by handling tasks such as updating old code — jobs many engineers find boring.
Goldman’s Chief Information Officer, Marco Argenti, said Devin will work like a new employee who helps human developers. He believes Devin can increase productivity by three to four times compared to previous tools, making it a powerful addition to their tech team.
What This Means for Engineering Graduates
Goldman Sachs currently has around 12,000 human developers, but with the rise of AI coders like Devin, the future for entry-level engineering jobs looks uncertain. A report from Bloomberg Intelligence earlier this year warned that banks could cut up to 200,000 jobs worldwide in the next few years because of AI.
Jobs like software analysts — often the starting point for many careers in finance and tech — may reduce as AI takes over routine coding and research tasks.
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A Future of Humans and AI Working Together
Even though AI is advancing quickly, Argenti believes the future will be a mix of both humans and AI working together. He said engineers will need to learn how to clearly explain problems and turn them into prompts that AI can understand and act on.
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High-level jobs that require human judgment, client communication, and deep expertise will still be safe — but the use of AI like Devin shows that the tech world is changing fast, especially on Wall Street.
