Growing steps of Artificial Intelligence (AI) are now creating new stir in the engineering world. American multinational investment bank Goldman Sachs has taken a decision that has increased the concern of the people working in the engineering sector. Bank has an AI software engineer Devin (Devin) has been included in his team, which will continuously work without stopping, without breaks and demand for any salary or promotion.
Who is ‘Devin’?
Devin is an automated AI software engineer, developed by a London startup. Goldman Sachs has included it as a real employee in its engineering department. Bank Chief Information Officer Marco Argenty CNBC Told that Devin will work like a new member of our team. It is capable of performing as well as humans.
Revolutionary change in way of working
Around 12,000 software developers are currently working in Goldman Sachs. Now the bank’s plan is to increase both speed and quality by increasing the number of AI engineers. Argenty says that AI tools like Devin can be three to four times more productive than traditional tools.
What work will AI do?
AI engineers like Devin will mainly update the old code, fix the bugs and carry out repeatable works – which generally seem cumbersome and consumed to engineers. This will save time and resources, as well as better output.
Entry-level engineers will increase concern
The biggest impact of this growing trend of AI can have on entry-level engineers. According to a report by Bloomberg Intelligence, adopting AI in the banking sector in the coming 3 to 5 years can eliminate about 2 lakh jobs globally. Especially the positions including regular coding, research and data analysis.
Is this technical progress or crisis on employment?
On the one hand, while AI will increase the speed and skill of work, on the other hand, opportunities in the engineering sector for the youth may be reduced. This situation challenges us to balance with technology.