Generative artificial intelligence is reshaping the landscape of investment banking, particularly in roles traditionally held by junior analysts. AI technologies like those being tested at Goldman Sachs and other major banks are capable of performing tasks that previously took hours or even whole weekends for human analysts. This includes assembling PowerPoint presentations, crunching numbers in Excel spreadsheets, and refining language in financial documents. The widespread adoption of AI in banking could lead to significant changes in hiring practices, with the potential for fewer junior analyst positions and altered job responsibilities for those who remain.
Goldman s 5,200 price target for the S&P 500 in 2024 is now among the highest on Wall Street, joining the ranks of bulls including Tom Lee of Fundstrat Global Advisors and Oppenheimer Asset Management chief strategist John Stoltzfus, who both hold a similar year-end outlook.
Whirlpool Stake Sale: Whirlpool plans to sell the stake at Rs 1,230 per share, a 7.6% discount to Monday s closing price. It aims to complete the deal by Wednesday. Goldman Sachs is advising Whirlpool on the deal, the term sheet showed. Goldman and Whirlpool did not immediately respond to requests for comment.