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

NEW YORK, July 30 : Goldman Sachs Asset Management has launched an artificial intelligence investing platform, AlphaAI, betting that AI will become an important driver of investment returns across its public and private market businesses.

Lou D'Ambrosio will lead AlphaAI, as chairman of Artificial Intelligence for Asset Management, according to an internal memo seen by Reuters.

"We believe AI is both reshaping industries and acting as a force multiplier in how we invest," said Marc Nachmann, global head of Goldman's asset & wealth management arm in the memo.

D'Ambrosio led the Value Accelerator, which he founded in 2018, chairs the firm's AI Investing Leadership Council, and previously served as CEO of both private and public companies.

Darius Adamczyk, who has co-led the Value Accelerator, which helps portfolio companies grow and create value by leveraging the Goldman Sachs network, will assume global leadership of the business, the memo said.