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AI Can Draft 95% of IPO Prospectus in Minutes, Says Goldman Sachs CEO

AI Can Draft 95% of IPO Prospectus in Minutes, Says Goldman Sachs CEO

Goldman Sachs CEO David Solomon highlighted the transformative power of AI, revealing it can draft 95% of an IPO prospectus in mere minutes, a task that previously took a six-person team two weeks. Speaking at the Cisco AI Summit in California, Solomon emphasized that the final 5% of the document, which requires human input, holds the most value as the rest is now considered a commodity. He pointed out how AI is reshaping tasks for the investment bank and its clients, accelerating efficiency in critical processes.

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