Goldman Sachs CEO says that AI can draft 95% of an IPO prospectus “in minutes.” White collar jobs will go first…. and fast.

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Goldman Sachs CEO David Solomon recently made a bold claim that’s got everyone talking: he says AI can draft 95% of an IPO prospectus in just minutes. This is a massive departure from the traditional process, which typically involves weeks of work from a team of analysts and lawyers.

Solomon’s revelation has sparked considerable debate about the future of white-collar jobs, especially in finance. He shared these insights, noting how AI has revolutionized one of the most labor-intensive tasks in investment banking. Traditionally, a six-person team would spend two weeks preparing an IPO prospectus. Now, AI handles 95% of this work in mere minutes, leaving only 5% that still requires human expertise.

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This development is both exciting and worrying. On the bright side, it promises to streamline the IPO process, making it faster and more cost-effective. However, it also raises serious concerns about job security. If AI can take over such a significant portion of this work, what does it mean for the analysts and lawyers who have traditionally performed these tasks?

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Sources:

https://x.com/JohnLeFevre/status/1880051895353634912

https://www.msn.com/en-in/money/news/goldman-sachs-ceo-david-solomon-says-ai-can-write-95-of-an-ipo-prospectus-last-5-now-matters-rest-is-commodity/ar-AA1xlo4X

https://fortune.com/2025/01/17/goldman-sachs-ceo-ai-tasks-ipo-prospectus-s1-filing-sec/

https://www.livemint.com/industry/banking/goldman-sachs-ceo-david-solomon-ai-can-write-95-percent-ipo-prospectus-last-5-percent-now-matters-rest-commodity-us-bank-11737077949106.html


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