Goldman’s Solomon Touts AI as Employee Compensation Jumps 14%

Goldman Sachs Group Inc. Chief Executive Officer David Solomon touted the role of artificial intelligence in driving down costs in the future as the Wall Street giant reported a 14% jump in employee compensation.

The pay and benefits bill for the three months through September rose to $4.7 billion, the firm said in an earnings filing on Tuesday. The number rose 10% in the first nine months from a year ago.