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Goldman Restricts Traders and Bankers from Using Some AI Tools

bloomberg.com27 points4 comments
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Goldman Sachs has limited access to Anthropic’s Claude Code and Microsoft’s GitHub coding tools to engineers, reversing months of wider use by bankers and traders. Internal guidance updated in October followed a trial in which the firm assessed productivity and risk. The change has frustrated some traders who used the tools to monitor client trading, model market movements and positions, and produce written or visual materials. The restriction does not cover “strats,” specialists who combine trading, quantitative research and software engineering. In July, Chief Information Officer Marco Argenti had praised nontechnical employees’ experimentation with AI, describing how they developed prototypes that engineers could refine.

The decision reflects Wall Street’s broader effort to balance AI’s potential with cybersecurity, cost and productivity concerns. Goldman says it makes tools available for testing before deciding who is best placed to use them over the long term; it has also built an assistant that draws on models from OpenAI, Anthropic and Google. JPMorgan, meanwhile, has encouraged employees to match models to tasks to avoid paying for unnecessarily powerful systems. Goldman’s limits come as it helps finance the AI boom, including serving as lead underwriter for Anthropic’s expected public offering and arranging large debt deals with Nvidia. The bank has imposed AI restrictions before, including a location-specific limit on Claude use in Hong Kong.

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