Goldman looks to machine learning to solve legacy conundrum

As at other large banks, however, not all Goldman's engineers spend their time developing new technology. Nearly one third of them spend a lot of their day monitoring the bank's 5,000 critical systems, running tests and looking for problems, according to Don Duet, head of technology, who is based at Goldman Sachs's Wall Street headquarters. With technology talent playing an increasingly critical role in banking and across all industries, freeing up some of those resources could have a significant impact, according to Duet. He said: "If you could imagine, from a pure talent usage potential perspective, that you could free up those engineers to work on new and innovative products, versus just running what you have? The opportunity would be just massive."