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Goldman Sachs taps Anthropic’s Claude to automate accounting, compliance roles

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Goldman Sachs taps Anthropic’s Claude to automate accounting, compliance roles


Goldman Sachs has been working with the artificial intelligence startup Anthropic to create AI agents to automate a growing number of roles within the bank, the firm’s tech chief told CNBC exclusively.

The bank has, for the past six months, been working with embedded Anthropic engineers to co-develop autonomous agents in at least two specific areas: accounting for trades and transactions, and client vetting and onboarding, according to Marco Argenti, Goldman’s chief information officer.

The firm is “in the early stages” of developing agents based on Anthropic’s Claude model that will collapse the amount of time these essential functions take, Argenti said. He expects to launch the agents “soon,” though he declined to provide a specific date.

“Think of it as a digital co-worker for many of the professions within the firm that are scaled, are complex and very process intensive,” he said.

Goldman Sachs CEO David Solomon said in October that his bank was embarking on a multiyear plan to reorganize itself around generative AI, the technology that has made waves since the arrival of OpenAI’s ChatGPT in late 2022. Even as investment banks like Goldman are experiencing surging revenue from trading and advisory activities, it will seek to “constrain headcount growth” amid the overhaul, Solomon said.

The news from Goldman comes as model updates from Anthropic, co-founded by a former OpenAI executive, have sparked a sharp sell-off among software firms and their credit providers as investors wager on who the winners and losers from the AI trade will be.

Goldman began last year by testing an autonomous AI coder called Devin, which is now broadly available to the bank’s engineers. But it quickly found that Anthropic’s AI model could work in other parts of the bank, Argenti said. 

“Claude is really good at coding,” Argenti said. “Is that because coding is kind of special, or is it about the model’s ability to reason through complex problems, step-by-step, applying logic?”

Argenti said the firm was “surprised” at how capable Claude was at tasks besides coding, especially in areas like accounting and compliance that combine the need to parse large amounts of data and documents while applying rules and judgment, he said.

Now, the view within Goldman is that “there are these other areas of the firm where we could expect the same level of automation and the same level of results that we’re seeing on the coding side,” he said.

The upshot is that, with the help of the agents in development, clients will be onboarded faster and issues with trade reconciliation or other accounting matters will be solved faster, Argenti said.

Goldman could next develop agents for tasks like employee surveillance or making investment banking pitchbooks, he said. 

While the bank employs thousands of people in the compliance and accounting functions where AI agents will soon operate, Argenti said that it was “premature” to expect that the technology will lead to job losses for those workers.

Still, Goldman could cut out third-party providers it uses today as AI technology matures, he said.

“It’s always a trade-off,” Argenti said. “Our philosophy right now is that we’re injecting capacity, which in most cases will allow us to do things faster, which translates to a better client experience and more business.”



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Noida International Airport inauguration: Delhi-NCR gets new airport – all you need to know – The Times of India

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Noida International Airport inauguration: Delhi-NCR gets new airport – all you need to know – The Times of India


PM Modi inaugurates Jewar airport

NEW DELHI: Prime Minister Narendra Modi on Saturday inaugurated Phase I of the Noida International Airport at Jewar in Uttar Pradesh, marking a significant milestone in India’s expanding aviation infrastructure.PM Modi was accompanied by Uttar Pradesh chief minister Yogi Adityanath and Governor Anandiben Patel.

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PM Modi To Inaugurate Noida International Airport Phase 1 On March 28: All You Need To Know

Developed at an investment of around Rs 11,200 crore under a Public–Private Partnership (PPP) model, the project is expected to enhance both regional and international connectivity for the National Capital Region (NCR).The airport is being positioned as a key addition to India’s aviation network, aimed at easing pressure on existing infrastructure while supporting the country’s ambition of becoming a global aviation hub.

Second international gateway for Delhi NCR

Noida International Airport has been developed as the second international gateway for Delhi NCR, complementing the existing Indira Gandhi International Airport, which currently handles the majority of the region’s air traffic.

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With rising passenger demand and capacity constraints at IGI Airport, the new facility is expected to play a crucial role in distributing traffic more efficiently.Together, the two airports will function as an integrated aviation system, helping reduce congestion, improve connectivity, and enhance the region’s standing among leading global aviation hubs.

Phase I capacity and future expansion plans

Phase I of the airport is designed to handle 12 million passengers per annum (MPPA), providing immediate relief to the region’s growing air travel demand.The project has been planned with scalability in mind, with provisions to expand capacity to 70 million passengers annually in subsequent phases. This long-term vision reflects the government’s strategy to future-proof infrastructure and accommodate sustained growth in air travel.

Modern infrastructure and all-weather operations

The airport features a 3,900-metre runway capable of handling wide-body aircraft, making it suitable for both domestic and international long-haul operations.

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Equipped with advanced navigation systems such as the Instrument Landing System (ILS) and modern airfield lighting, the facility is designed to support efficient, all-weather, round-the-clock operations. These features ensure operational reliability even under challenging weather conditions.

Cargo hub and logistics ecosystem

In addition to passenger services, the airport includes a comprehensive cargo ecosystem aimed at strengthening logistics and trade.The Multi-Modal Cargo Hub comprises an Integrated Cargo Terminal and dedicated logistics zones, with an initial handling capacity of over 2.5 lakh metric tonnes annually. This capacity is expected to expand significantly to around 18 lakh metric tonnes in the future, positioning the airport as a major cargo and logistics centre in North India.

Dedicated MRO facility to enhance efficiency

A key component of the airport’s infrastructure is a 40-acre Maintenance, Repair and Overhaul (MRO) facility.This dedicated facility is expected to improve operational efficiency by enabling airlines to service and maintain aircraft locally, reducing turnaround times and operational costs. It also strengthens India’s capabilities in aviation maintenance services.

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PM Modi To Inaugurate Noida International Airport Phase 1 On March 28: All You Need To Know

Sustainability and future-ready design

Noida International Airport has been designed as a sustainable and future-ready infrastructure project, with a focus on achieving net-zero emissions.The project incorporates energy-efficient systems and environmentally responsible practices, aligning with India’s broader climate goals. The airport’s development reflects a growing emphasis on green infrastructure in large-scale projects.

Architecture inspired by Indian heritage

Blending modern infrastructure with cultural aesthetics, the airport’s architectural design draws inspiration from traditional Indian elements such as ghats and havelis.This approach aims to create a distinctive identity for the airport while offering passengers a sense of place rooted in Indian heritage.

Strategic location and multi-modal connectivity

Strategically located along the Yamuna Expressway in Gautam Buddha Nagar district, the airport is planned as a multi-modal transport hub.It will feature seamless integration with road, rail, metro and regional transit systems, ensuring smooth connectivity for passengers and cargo. This connectivity is expected to significantly improve accessibility for travellers across Delhi NCR and neighbouring regions.

Boost to India’s aviation ambitions

The inauguration of Phase I of Noida International Airport is being seen as a major step in strengthening India’s aviation ecosystem.By expanding capacity, improving connectivity, and integrating modern infrastructure with sustainability, the project is expected to play a key role in positioning Delhi NCR as a major global aviation hub while supporting economic growth and regional development



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Why supermarket prices really became sky high in the UK

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Why supermarket prices really became sky high in the UK



Butter, chocolate, coffee and milk have all seen prices rocket. Tracing back through the story of one particular supermarket staple begins to explain why



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LPG crisis: No respite for restaurants yet – The Times of India

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LPG crisis: No respite for restaurants yet – The Times of India


MUMBAI/BENGALURU: The restaurant industry is struggling to run regular operations due to the meagre supplies of LPG cylinders . With the govt’s move to hike commercial LPG allocation to up to 70%, it will take some time before the measure actually translates into sustained supply, executives said. “Supply is still hugely limited and erratic. A feeling of uncertainty looms large,” said Anurag Katriar, founder at Indigo Hospitality. The key question is how quickly this revised allocation will translate into on-ground availability, said Pradeep Shetty, vice-president at Federation of Hotel & Restaurant Associations of India (FHRAI).A walk along Indiranagar’s 12th Main, known for its cluster of independent restaurants, reflects the strain. “It is all hand-to-mouth at this point,” said Nikhil Gupta, who runs brands including The Pizza Bakery and Paris Panini . The move doesn’t directly help the restaurant sector which is still getting 20%-30% of LPG supplies, said Sagar Daryani, co-founder & CEO at Wow! Momo Foods and president at National Restaurant Association of India (NRAI). State-wise, the supply situation varies with some such as Maharashtra, Karnataka, Rajasthan restricting allocation for restaurants, hurting the sector , Daryani said.



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