An AI-powered chatbot for customers helped Goldman Sachs' Marcus realize 'massive savings,' according to a top exec. Here's how.

Chatbots and artificial intelligence have delivered great returns for Goldman Sachs' Marcus as the online bank looks to manage its growth. Marcus, Goldman's digital consumer bank, significantly "cut down on costs and expenses in terms of people" at call centers by using the tech, Abhinav Anand, an MD and head of lending for consumer at Goldman Sachs, said at a recent industry event. "That itself, at the scale at which we are growing, is a massive savings and a good way to measure the return on our investments," said Anand, who was speaking at the Ai4 Finance Summit in New York on Tuesday. Marcus is not "removing call center positions" but rather using the chatbots, which the bank calls "intelligent AI enabled chat services," to manage growth, a spokesperson for Goldman Sachs told Insider. "We are not removing call center representative positions, we are continuing to grow across the board in the consumer business including within our call centers. We are growing at an incredible pace and are continuously hiring for new roles and positions," the spokesperson told Insider.