Goldman Sachs to small businesses: “very little that we do” needs frontier models, getting it right matters most
Fortune, 23 October 2026: at the launch of its $500 million Small Business AI Institute, Goldman Sachs' CEO tells small businesses not to chase the latest technology.
- On 23 October 2026, Fortune reports the launch of Goldman Sachs' Small Business AI Institute, with $500 million committed.
- David Solomon says very few uses need frontier models and that the point is to “get it right, not to get it quicker”.
- For an agency, starting with basic tools on one repetitive task is enough, with a person who approves.
According to Fortune (23 October 2026), Goldman Sachs has launched its Small Business AI Institute at its Manhattan headquarters, with a $500 million commitment for the next chapter of its 10,000 Small Businesses program. Speaking to small-business owners, Goldman Sachs CEO David Solomon kept the debate over frontier models apart from everyday use: “there’s very little that we do where we need frontier models”.
He acknowledged that “at the moment, this is an expensive technology” and that the return can come from productivity, creating “more leverage in the business without a fixed cost base”. His advice: “The important thing is to get it right, not to get it quicker.” Two guest founders echo the tone: for Allison Dunn (Hibiscus Brew), AI is not here to replace, but “people who can use AI” might replace others; for Hagan Walker (Glo Pals), “it’s definitely augmenting”.
For AppH
- The message reassures small teams: there is no need to follow every model or to be first. Basic tools already cover repetitive office tasks, such as preparing a letter or a reminder.
- The testimonies point to AI as a complement: an assistant prepares, and a person at the agency reads and approves before anything goes out.
Against / the honest limit
- These are remarks made at a launch by an American bank that funds a small-business program; this is not a study, and nothing concerns France or domiciliation.
- Solomon also notes that access to capital remains a constraint and that the technology is expensive: the gain is not guaranteed and has to be measured.
“Get it right, not quicker” is a good setting for a small agency: one repetitive task, proven tools, a cost you track, and a person who stays in control of what reaches clients.
Reviewed by a human at AppH