In a bold statement, Goldman Sachs' CEO David Solomon said that artificial intelligence (AI) can write 95 per cent of an IPO prospectus accurately and people are required for the last 5 per cent of the report — the only part that “matters", according to the United States investment banking major's chief, the Financial Times reported.
| +271 | Earliest you can get fired | 58 | 20h |
| +251 | UBS’s M&A BANKERS ARE DOING TERRIBLY. $200M EXTRA IS BEING CUT | 47 | 1d |
| +239 | Investment Banking is Divine | 40 | 16h |
| +223 | Career Crossroads | 31 | 1d |
| +213 | US 2027 SA IB worried about background check | 53 | 13h |
| +209 | Another $115bn Mega deal for these banks. Congrats! | 45 | 18h |
| +206 | Analyst: Why is UBS IB doing worse than peers?, UBS CFO: No Comment | 41 | 1d |
| +127 | Is UBS really that bad? | 38 | 15h |
| +40 | Is Houston SA 28 recruiting already over? | 34 | 2h |
| +26 | 2026-27 IB Energy Top Banks | 8 | 19h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Investment banking remains a viable career path, but it is evolving rapidly due to technological advancements like AI. Based on the most helpful WSO content, here’s what you need to know:
Safety of Investment Banking: While AI is automating certain tasks, such as drafting IPO prospectuses, the human element in investment banking—relationship management, strategic decision-making, and nuanced judgment—remains critical. AI can enhance efficiency, but it’s unlikely to replace the core functions of bankers entirely. However, the industry is cyclical, and roles may shift or reduce during downturns.
Is a $200K MBA Worth It?: The value of an MBA depends on your goals and circumstances. If you're looking to pivot careers, break into investment banking, or access top-tier networks, an MBA from a prestigious program can be transformative. Many WSO threads highlight success stories where MBAs led to significant career advancements, such as moving into private equity, launching businesses, or achieving leadership roles. However, if you're already in a strong position in finance or have alternative paths to your goals, the ROI might be less compelling.
Ultimately, the decision should weigh your career aspirations, financial situation, and the specific opportunities an MBA can unlock for you.
Sources: MBA Costs $500,000 -- Worth It?, https://www.wallstreetoasis.com/forum/investment-banking/is-david-solomon-too-big-a-jerk-to-run-goldman-sachs?customgpt=1, Is David Solomon Too Big a Jerk to Run Goldman Sachs?, Google partners with Goldman Sachs in automating Investment Banking, What is the future of investment banking?
Maxime at et commodi praesentium enim deleniti. Cumque qui sit qui reiciendis est consequatur explicabo vitae. Rerum ad id amet. Inventore nam omnis sunt dolorem nihil fuga.
Odit neque quia non quia iusto in voluptas. Expedita ut voluptatem ab quia aut non. Molestiae laboriosam laboriosam officiis libero suscipit inventore. Itaque magnam minima molestias ut sit.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...