AI is leading to the 'revenge of the liberal arts,' says a Goldman tech exec with a history degree
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- Goldman's George Lee said AI will empower non-technical workers, including those in risk management.
- The history major turned tech banker said AI enhances skills like critical thinking, creativity, and logic.
- Banks are increasingly using AI for fraud and credit risk amid rising regulatory demands.
A longtime tech banker with a history degree says AI could be a boon for non-technical workers.
George Lee, the co-head of applied innovation at Goldman Sachs, told Bloomberg Television on Tuesday that he thinks AI will lead to the "revenge of the liberal arts" in the workforce.
"Some of the skills that are really salient to cooperate with this new of intelligence in the world are critical thinking, understanding logic and rhetoric, the ability to be creative," Lee said. "AI will allow non-technical people to accomplish a lot more — and, by the way, begin to perform what were formerly believed to be technical tasks."
Lee, who studied history at Middlebury College and got an MBA from the Wharton School of the University of Pennsylvania, sits on liberal arts-focused Middlebury's board of trustees. He joined Goldman in 1994 after his MBA and was previously the firm's co-chief information officer.
Lee told Bloomberg that AI could help people who are focused on operations and risk management.
As regulatory requirements have intensified globally and threats like cybersecurity take center stage, banks' risk management teams have swelled. In an annual bank risk management survey by EY and the International Institute of Finance released in February, a majority of banks said they're already using AI to monitor fraud and credit risk.
AI is increasingly seen as a threat to knowledge workers, including investment bankers. Junior investment-banking analyst classes — a highly-paid, high-stress job — could be cut by as much as two-thirds, while those who make it into the banks could be paid less for jobs assisted with AI.
As Business Insider has previously reported, banks from Goldman Sachs to Deutsche Bank have been exploring ways to streamline tedious tasks often assigned to junior investment bankers, like updating charts for pitch books or company valuation comparison tables.
A Goldman spokesperson previously told BI the bank has no plans to scale back its incoming class.