Goldman Sachs launches institute to help small businesses adopt AI

Goldman Sachs has launched the Small Business AI Institute as part of a $500 million expansion of its 10,000 Small Businesses program. The philanthropic initiative will partner with Google, Anthropic, OpenAI and Meta to provide entrepreneurs with AI training and tools. CEO David Solomon said businesses risk falling behind if they do not explore how new technology can improve their operations.

Adoption is growing among participants in Goldman’s entrepreneurship program, but deeper integration remains limited. A survey this year of more than 2,400 graduates found that 86% were using AI in their businesses, up from just 56% in 2024. Only 15% said they had fully integrated it into core operations. Juliette founder Rechelle Balanzat uses AI to prepare for discussions with professional advisers, while Linda Tool leader Mike DiMarino sees potential in planning, management and manufacturing processes.

Security, spending and employment concerns remain obstacles. DiMarino is cautious about exposing sensitive defense and aerospace information, while larger companies are reassessing AI computing costs against measurable business benefits. The push also comes amid public unease about regulation and potential job losses, alongside investor concerns about an AI bubble. Both Balanzat and DiMarino said they want the technology to support employees rather than replace them.