Andreessen Horowitz · AI Agent · Agentic AI · Goldman Sachs · Wall Street · Fortune Technology
The American Bankers Association signalled in December 2025 of a potential “737 Max moment
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The data bears out Blankfein’s instinct in striking detail.
Key facts
- So did the 2012 Knight Capital disaster, in which a software glitch caused the firm to lose $440 million in 45 minutes, effectively destroying the company
- A March 2026 Deloitte analysis of the MIT AI Risk Database identified more than 350 distinct risks that can arise from autonomous or agentic behavior in banking alone, many of which are not addressed
- A January 2026 Wakefield Research study found that only 14% of CFOs completely trust AI to deliver accurate accounting data on its own, yet the vast majority of those same firms are already using AI
- And 70% of banking executives at firms already using agentic AI reported that governance frameworks lag far behind the pace of deployment, per a 2025 MIT Technology Review Insights survey
Summary
Lloyd Blankfein spent decades at Goldman Sachs learning how to manage risk at scale. The problem with AI is “not because it’s smarter than us and going to turn us into pets,” Blankfein said in a new interview on Andreessen Horowitz’s The a16z Show, published Monday, “but because we don’t can test whether it’s right or not.” When you’re running a big institution, he explained, you can’t make mistakes and numbers matter. Alluding to AI in particular but technological advancement in particular, he said, “everything is whirring behind the scenes,” and you don’t get a close look at the thought process of the technology on which you’re relying. This simple explanation may be the most precise articulation yet of why Wall Street, despite spending billions deploying AI across trading, compliance, and back-office operations, remains deeply reluctant to hand autonomous agents the keys to anything that matters.