THE SIGNAL
JPMorgan Chase reclassified its AI spending from experimental R&D to "core infrastructure" on its balance sheet this quarter — a quiet accounting decision that signals AI has crossed from pilot program to permanent operating requirement at the world's largest bank. When something moves to infrastructure, the expectation that employees can work inside those systems is already set. Goldman Sachs confirmed the pattern this week, beating on investment banking and advisory revenue as M&A activity recovers — the firms shaping early-career finance are embedding AI into their foundations at the exact moment deal flow is accelerating.
WHY IT MATTERS TO YOU
If you're recruiting for banking, consulting, or fintech this cycle, the firms interviewing you have already made this decision — the question is whether you have.
The JPMorgan reclassification paired with Goldman's M&A recovery tells you exactly what the next analyst class is walking into: deal volume is returning, workloads are rising, and AI is how firms plan to absorb the increase without proportionally adding headcount.
That doesn't mean AI takes your seat. It means the analyst who knows how to direct these tools inside a real finance workflow does more work, surfaces better insights, and becomes more valuable earlier. You don't need a CS degree — you need to understand the workflows those tools are being built into.
THE SKILL OR TOOL
This week: Goldman Sachs on Forage. It's a free virtual experience that puts you inside real Goldman workflows — including Operations and Risk Management, the exact two divisions being rebuilt around AI-embedded processes right now.
I've completed both tracks myself. It's not a generic simulation — it mirrors actual task structures junior analysts encounter in their first weeks on the desk, which makes it one of the most direct windows into what Goldman expects before you walk in the door.
Both tracks take a weekend. Listing the credential signals you've engaged with institutional-grade finance workflows — not just coursework. Go to theforage.com and search Goldman Sachs.
THE QUESTION
When you imagine your first week as an analyst, what's the one task you'd be most nervous to have AI involved in?
— Marco Meneses Finance & Business Analytics @ Wilkes University | Greenwood Project FinTech Scholar theanalystedgehq.com
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