Goldman Sachs launches Small Business AI Institute
The bank commits $500 million to its broader small-business programme, with Anthropic, Google, Meta and OpenAI set to provide training.
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The bank commits $500 million to its broader small-business programme, with Anthropic, Google, Meta and OpenAI set to provide training.
Goldman Sachs launched its Small Business AI Institute on October 22, 2026, at its lower Manhattan headquarters, with four technology companies planning artificial intelligence training for small-business owners and employees. The institute is part of a new $500 million commitment to the bank’s broader 10,000 Small Businesses programme, according to the bank’s announcement reported by Fortune, which attended the launch.
Nearly 20,000 entrepreneurs have completed the programme since it began in 2010 under an earlier $1.25 billion commitment. The new commitment covers education, access to capital and support services—not solely AI spending. The institute’s share of the funding and a disbursement timetable remain unspecified.
A survey conducted by Babson College in August and released alongside the announcement found widespread AI use among programme graduates, but much less integration into their main business operations. These findings concern programme graduates, not businesses nationally.
| Measure | Share of respondents |
|---|---|
| Used AI in their businesses in 2024 | 56% |
| Used AI in their businesses in August 2026 | 86% |
| Said AI was fully integrated into their core operations |
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| 15% |
| Said more AI training and resources would help | 77% |
Goldman Sachs CEO David Solomon argued that AI could help owners do work they might otherwise hire a consultant to perform, such as business strategy, without adding that fixed cost. He also described the technology as expensive and urged owners to judge whether productivity gains justified the expense rather than rush to adopt it.
Solomon described three parts to the institute: partner-led training, research into small-business AI use and access to capital. The four technology partners plan the following contributions.
| Partner | Planned contribution |
|---|---|
| Anthropic | A learning series on practical AI use, hands-on workshops for programme alumni and research collaboration on how small businesses use AI. |
| The Grow With Google AI Professional certificate for almost 20,000 small-business owners and employees, with three months of free Google AI Pro access. | |
| Meta | AI tools and training through Muse for Small Business. |
| OpenAI | AI workshops delivered through the programme’s community college partners. |
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