Goldman Sachs asset arm forms an AI investing platform, memo shows

Goldman Sachs Asset Management has launched an artificial intelligence investing platform called AlphaAI, aiming to make AI a meaningful driver of returns across both its public and private market businesses. The platform will be led by Lou D’Ambrosio, named in an internal memo seen by Reuters as chairman of “Artificial Intelligence for Asset Management.” Marc Nachmann, global head of Goldman’s asset and wealth management arm, said in the memo that AI is reshaping industries and acting as a “force multiplier” for how the firm invests. Darius Adamczyk, co-leader of Goldman’s Value Accelerator, will take global leadership of the unit.