Lou D’Ambrosio will lead the platform as chairman of Artificial Intelligence for Asset Management, the report cited the memo as saying.
"We believe AI is both reshaping industries and acting as a force multiplier in how we invest,” Marc Nachmann, global head of Goldman’s asset and wealth management division, said as per the report.
D’Ambrosio founded and led the Value Accelerator in 2018, chairs the firm’s AI Investing Leadership Council, and has previously served as chief executive of both private and publicly traded companies.
He told Reuters that they expect “AI to drive greater dispersion within sectors, not just across them”, and this wasn’t necessarily reflected in the prices. AlphaAI has been designed to identify this, drawing on insights from Goldman’s public and private markets businesses and more than 100 AI applications already operating at scale within its portfolio companies.
Darius Adamczyk will take over as global head of the Value Accelerator, a Goldman Sachs unit he previously co-led.
The Defiance Quantum ETF is among the largest funds in the sector, managing $4.88 billion in assets invested across quantum computing, machine learning and related enabling technologies, it said.
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