It used to take two weeks for a team of six bankers to do the same task, Goldman Sachs CEO David Solomon said.

The ways AI is changing the work of bankers and analysts just got clearer at the Wall Street bank.

In a bold claim, Goldman Sachs CEO David Solomon has said that artificial intelligence (AI) can draft an IPO (initial public offering) prospectus. According to Financial Times, Solomon said that AI can accurately compile 95% of such a document.

Goldman Sachs' CEO David Solomon said AI can write 95 per cent of an IPO prospectus accurately, and people are now required for the last 5 per cent of the report.