On Main Street, Goldman Sachs makes a big bet on AI

Goldman Sachs is making a significant philanthropic bet on artificial intelligence by launching the Small Business AI Institute as part of a $500 million expansion of its 10,000 Small Businesses program. The bank is partnering with Google, Anthropic, OpenAI, and Meta to provide AI training and tools to small businesses across America. Goldman Sachs CEO David Solomon emphasized that embracing new technology is essential for small businesses to avoid falling behind, while OpenAI CEO Sam Altman predicted AI will create the greatest boom in entrepreneurship the world has ever seen. The initiative comes at a pivotal moment when AI is broadly available to consumers, yet concerns persist about its impact on inflation, job displacement, and cybersecurity. A recent NBC News poll found that 79 percent of respondents believe the government isn't doing enough to regulate AI, and 67 percent disapprove of President Donald Trump's handling of the technology. Despite these concerns, a Goldman survey found that 86 percent of its small business program graduates are already using AI, up from 56 percent in 2024. However, only 15 percent have fully integrated it into core operations. Small business owners like Rechelle Balanzat and Mike DiMarino view AI as a tool to enhance, not replace, human workers, though they remain cautious about security and cost implications.

(Source：NBC News)