Summary Goldman Sachs Asset Management unveils AlphaAI platform to integrate artificial intelligence across public and private market investment strategies.
NEW YORK (Reuters) – Goldman Sachs Asset Management has launched AlphaAI, a new artificial intelligence investment platform, as the firm seeks to harness AI to drive returns across its public and private market businesses.
According to an internal memo seen by Reuters, Lou D'Ambrosio has been appointed Chairman of Artificial Intelligence for Asset Management and will lead the AlphaAI initiative.
The platform reflects Goldman Sachs' strategy of embedding artificial intelligence into its investment process as AI continues to transform industries and financial markets.
"We believe AI is both reshaping industries and acting as a force multiplier in how we invest," Marc Nachmann, global head of Goldman Sachs' Asset & Wealth Management division, said in the memo.
D'Ambrosio previously founded the firm's Value Accelerator programme in 2018, chairs its AI Investing Leadership Council, and has served as chief executive of both private and public companies.
The memo also said Darius Adamczyk, who previously co-led the Value Accelerator, will assume global leadership of the business. The programme helps portfolio companies grow and create value by leveraging the Goldman Sachs network.
