Last month, more than 100 young wealthy founders, inheritors, and industry leaders flew in from all around the world in the luxe mountain town of Aspen, Colo. At Goldman Sachs’ annual At the Helm event, the bank’s affluent clients dropped and did pushups for a Navy SEAL, unfurled their relationship with wealth guru Sahil Bloom, and strategized legacy with Mindy Kaling. But one of the most buzzy endeavors was addressing the elephant in the room: artificial intelligence.
AI is on everyone’s mind—from the desk worker hand-wringing over their role becoming automated, to the tech CEO trying to keep up with their competitors. It’s a $280 billion industry that’s boosted leaders like Anthropic’s Dario Amodei to billion-dollar net worths, and is completely upending the way we move through our professional and personal lives. So, of course, wealthy clientele attending Goldman Sachs’ annual summit were all ears. The attendees—thirty- and forty-somethings who are members of the bank’s Private Wealth Management (PWM) division, which boasts an average account size of over $75 million—gathered to hash out their anxiety and excitement.
Over the course of the three-day summit, attendees and Goldman leaders talked all things AI—from the most lucrative investments, to the tech’s impact on the environment, and its potential to innovate industries. But alongside discussion of the hottest AI startups and new breakthroughs, Goldman Sachs had to set the record straight on one question. Despite OpenAI’s CEO Sam Altman and Meta’s Mark Zuckerberg drawing comparisons to the dot-com boom, the $238 billion bank said that we’re not in an AI bubble.
