Goldman Sachs launched its Small Business AI Institute on 22 October as part of a $500 million expansion of its entrepreneur education programme, NBC News reported. The bank said it would work with Google, Anthropic, OpenAI and Meta to provide AI training and tools to small businesses. The institute sits within 10,000 Small Businesses, Goldman’s existing programme for entrepreneur education and support.
Goldman Sachs chief executive David Solomon told NBC News that businesses risk falling behind if they fail to consider how new technology could improve their operations. OpenAI chief executive Sam Altman said in a Goldman announcement that he believed AI would drive growth in entrepreneurship and small businesses.
Rechelle Balanzat, founder of laundry services app Juliette and a programme alumna, told NBC News she uses AI to prepare questions for meetings with her accountant and lawyer.
Goldman said a survey of more than 2,400 programme graduates found that 86% used AI in their businesses, up from 56% in 2024. Only 15% of alumni said they had fully integrated AI into core operations, according to Goldman.
