Goldman Sachs had its largest class of new private wealth advisors ever, even as AI can do more of the job

Goldman Sachs hired over 120 new private wealth advisors into its four-week boot camp this summer, marking its largest class ever and a 30% increase from last year. The bank is betting that professionals who counsel the wealthy will have a strong future despite advancements in AI. AI chatbots are increasingly capable of handling tasks for middle-class and mass-affluent investors, but managing a fortune requires navigating complex situations. The importance of relationships for the wealthiest clients has Goldman Sachs investing in more advisors.

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