Goldman Sachs CEO David Solomon on AI’s economic impact: ‘There’s very little that we do where we need frontier models’
Source: Fortune ·
"The important thing is to get it right, not to get it quicker," Solomon told small businesses of his $500 million AI push with OpenAI, Anthropic, Google and Meta.
From the source
David Solomon spent Thursday announcing a $500 million AI push alongside four of the companies building the most powerful models in the world. Then he told the room that most of the economy doesn’t need those models. “Frontier models and how frontier models develop is going to be a very, very interesting thing,” the Goldman Sachs CEO told the crowd at the launch of the firm’s new Small Business AI Institute at the bank’s headquarters in lower Manhattan, where Fortune was in attendance. “But there’s very little that we do where we need frontier models,” he added, seeming to speak generally of economic activity, in the context of small business. “The technology is moving very, very quickly, and the technology is going to continue to move quickly,” Solomon said. But “you have to separate at some level” the development of frontier models from the everyday tools businesses actually use, he added. Frontier models, he said, matter for cybersecurity, for defense and for health care, such as…