Deals
Goldman Set Out to Automate IPOs and It Has Come Far, Really Fast
- Investment bank is eliminating thousands of hours of tasks
- Managers say it’s freeing junior staff for more-valuable work
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A few years ago, Goldman Sachs Group Inc.’s leaders took a hard look at how the bank carries out initial public offerings. They mapped 127 steps in every deal, then set out to see how many could be done by computers instead of people.
The answer so far: about half.