Goldman Sachs Commits $500 Million to Launch Small Business AI Institute and Expand Entrepreneurship Program
Goldman Sachs has announced a new $500 million commitment to expand its 10,000 Small Businesses program and accelerate artificial intelligence adoption among entrepreneurs across the United States. As part of the initiative, the firm is launching the Goldman Sachs Small Business AI Institute, which will provide small business owners with practical AI education, technology resources, and support to help them improve operations and expand their companies.
The new institute will collaborate with leading artificial intelligence companies, including Anthropic, Google, Meta, and OpenAI, to help entrepreneurs understand how AI can be applied to everyday business activities. The partnerships will focus on making AI education and tools more accessible to small businesses that may not have the resources available to larger corporations.
The announcement marks a new phase in Goldman Sachs’ long-running investment in small business development. Through the expanded 10,000 Small Businesses program, the firm intends to deliver education, access to capital, and support services to another 10,000 businesses.
Since the program began in 2010, nearly 20,000 entrepreneurs across all 50 U.S. states and four U.S. territories have completed it. According to Goldman Sachs, program graduates collectively generate more than $32 billion in annual revenue and support over 350,000 jobs. The firm also reports that these graduates add jobs four times faster than similarly sized U.S. businesses.
The Small Business AI Institute is designed to build on that foundation by helping entrepreneurs incorporate AI into their business strategies, improve productivity, and identify opportunities for growth.
Goldman Sachs Expands Its Commitment to Small Businesses
Small businesses play a significant role in the U.S. economy, supporting employment, generating revenue, and contributing to local communities. However, entrepreneurs often face resource constraints when adopting new technologies, particularly when implementation requires specialized knowledge, employee training, or additional investment.
Goldman Sachs said the new $500 million commitment will support the next chapter of its 10,000 Small Businesses initiative, with the goal of reaching another 10,000 businesses through education, capital access, and business support services.
The Small Business AI Institute will serve as a central part of this expansion. Its work will focus on helping business owners move beyond basic awareness of AI and develop practical ways to use the technology in their operations.
Potential applications include improving administrative processes, supporting customer service, assisting with marketing activities, and identifying opportunities to develop products and services. The institute’s educational approach is intended to help entrepreneurs assess where AI can provide value and how to integrate it into their existing business models.
David Solomon, chairman and chief executive officer of Goldman Sachs, said the firm has invested in small businesses for more than 15 years because of their importance to job creation.
Solomon emphasized that businesses that adapt quickly to major technological changes can be better positioned to benefit from new opportunities. Through the latest commitment, Goldman Sachs aims to help entrepreneurs responsible for creating American jobs participate more fully in the emerging AI economy.
The initiative reflects the growing importance of technology adoption as a component of small business competitiveness. By combining education with access to established AI providers, Goldman Sachs intends to give entrepreneurs resources to evaluate and implement AI tools without having to navigate the process entirely on their own.
Three Priorities for the Small Business AI Institute
The Goldman Sachs Small Business AI Institute will focus on three principal areas: AI education, research into small business AI adoption, and support for AI-enabled approaches to expanding access to capital.
AI education and practical training
The institute will provide small business owners with learning opportunities designed to make AI more understandable and useful in day-to-day operations. Training initiatives will emphasize practical applications that entrepreneurs can explore within their businesses.
This education will be delivered through collaborations with major AI companies and existing 10,000 Small Businesses community partners. The aim is to help business owners and employees build familiarity with available tools and identify ways to incorporate them into their work.
Research on AI adoption
The institute will also publish research examining how small businesses are using AI, the challenges they face, and the resources they need to increase adoption.
Research can help identify differences between businesses that are experimenting with AI and those that have integrated the technology into core operations. These findings may also help inform future training programs and support services.
AI-enabled access to capital
The third priority involves supporting AI-enabled approaches to expanding access to capital for small businesses. Access to financing can be a critical factor in a company’s ability to invest in technology, hire employees, enter new markets, and expand operations.
By examining how AI can support capital access, the institute intends to contribute to efforts that help small businesses obtain the resources needed to pursue growth opportunities.
Together, these three priorities establish a framework for connecting AI education with research and broader business development support.
Anthropic to Provide Applied AI Learning Opportunities
As part of the institute’s initial activities, Goldman Sachs will work with Anthropic to develop a new learning series focused on applied AI for small businesses.
The collaboration will also include hands-on workshops for 10,000 Small Businesses alumni and research projects examining AI use among entrepreneurs. The emphasis on applied learning is intended to help business owners understand how AI tools can address practical challenges rather than limiting training to general explanations of the technology.
Anthropic’s participation will bring its Claude AI assistant into the institute’s broader effort to make AI tools more accessible to small businesses.
Daniela Amodei, co-founder and president of Anthropic, said small businesses represent an important part of the American economy but have historically lacked the resources available to larger enterprises.
Amodei described AI as a technology that could help narrow this gap by giving smaller companies access to capabilities that were previously more difficult to obtain. She said Anthropic is pleased to work with Goldman Sachs to help small business owners use Claude to improve how work gets done and potentially incorporate AI into their own products and services.
The collaboration is expected to support entrepreneurs exploring ways to apply AI to internal processes and customer-facing offerings.
Google to Extend AI Training to Nearly 20,000 Participants
The institute will also work with Google to deliver the Grow with Google AI Professional Certificate to nearly 20,000 small business owners and their employees.
The initiative will include three months of no-cost access to Google AI Pro, providing participating business owners and workers with an opportunity to explore Google’s AI tools alongside structured learning.
The program is designed to broaden access to AI education by extending training beyond business owners to employees who may use the technology in their daily responsibilities. This approach recognizes that successful adoption often requires organizations to develop skills across multiple roles rather than relying on a single person to manage implementation.
Google’s involvement is intended to help participants develop practical knowledge they can apply to business operations and future growth plans.
Ruth Porat, president and chief investment officer of Alphabet and Google, said small businesses are central to the economy and local communities. She noted that emerging technologies can help companies accelerate growth, improve profitability, and support hiring.
Porat said the partnership with Goldman Sachs and the Small Business AI Institute will place practical tools and training in the hands of nearly 20,000 entrepreneurs, helping them prepare for the future.
The planned training and access to AI tools are intended to help participants build familiarity with the technology and evaluate its potential uses within their organizations.
Meta to Support Entrepreneurs Through Muse for Small Business
Meta will collaborate with the Small Business AI Institute through Muse for Small Business, an initiative intended to support entrepreneurs with AI tools and training.
The partnership will focus on helping business owners explore how AI can support their operations and business development efforts. Meta’s involvement also reflects the role digital platforms play in helping small companies connect with customers, promote their products, and manage their commercial activities.
Dina Powell McCormick, president and vice chairman of Meta, said small businesses are important to both the company and the broader economy. She highlighted their role as entrepreneurs, job creators, and sources of revenue within communities.
McCormick said Meta is pleased to join Goldman Sachs’ Small Business AI Institute to continue expanding access to AI capabilities for entrepreneurs.
Meta has stated that more than 200 million small businesses are empowered on its platforms. Through the collaboration, the company intends to build on its existing engagement with small businesses by helping owners access tools and training that can support their activities.
The initiative adds another major technology provider to the institute’s network of partners, giving entrepreneurs opportunities to learn about AI through different platforms and services.
OpenAI to Deliver AI Workshops Across the United States
OpenAI will partner with the institute to provide tailored AI workshops across the country through community college partners associated with the 10,000 Small Businesses program.
The workshops will be designed to help entrepreneurs understand how AI can be used in their businesses. Delivering training through established community college partners gives the initiative a way to connect with small business owners through existing educational networks.
The collaboration will also focus on helping entrepreneurs build and grow their businesses with ChatGPT.
Sam Altman, co-founder and chief executive officer of OpenAI, said AI could create significant opportunities for entrepreneurship and small business development. He noted that the technology is reducing the gap between developing an idea and bringing it into practice.
Altman said OpenAI is excited to work with Goldman Sachs to help more entrepreneurs build and expand their businesses with ChatGPT.
The partnership will complement the institute’s other educational activities by providing another avenue for business owners to explore practical AI applications. Together, the four technology partnerships will give the institute a broad foundation for delivering training and tools to small businesses.
Survey Shows AI Adoption Is Increasing, but Integration Remains Limited
Goldman Sachs released a survey of more than 2,400 graduates of its 10,000 Small Businesses program alongside the institute’s announcement. The findings indicate that AI use among respondents has increased significantly, although many businesses have yet to integrate the technology fully into their operations.
According to the survey, 86% of respondents reported using AI in their businesses, compared with 56% in 2024. However, only 15% said AI was fully integrated into their core operations.
More than three-quarters of the surveyed graduates also reported that they could benefit from additional AI training and resources.
The findings point to a distinction between experimenting with AI tools and incorporating them into established business processes. Although a growing number of entrepreneurs are using AI in some capacity, broader integration may require additional training, organizational changes, and a clearer understanding of how the technology can support business objectives.
For example, a business may use AI for occasional writing or research tasks without incorporating it into its main workflows. More extensive integration may involve embedding AI into customer support, administrative processes, data analysis, or product development.
The survey results suggest that many small business owners are interested in adopting AI but need further support to make it a more consistent part of their operations.
The institute’s emphasis on practical education and access to AI tools is intended to address this gap. Its partnerships with Anthropic, Google, Meta, and OpenAI will provide multiple pathways for entrepreneurs to explore available technologies and develop their capabilities.
Supporting Small Businesses in the Emerging AI Economy
Asahi Pompey, global head of corporate engagement at Goldman Sachs, said the firm wants to make AI adoption practical, accessible, and immediate for small businesses. Pompey described the AI economy as an economy in which small businesses will play an important role.
The institute’s approach combines education, research, and business support rather than focusing exclusively on technology access. This structure is intended to help entrepreneurs understand both the potential applications of AI and the practical steps involved in using it effectively.
Small businesses may face different adoption challenges depending on their size, industry, available expertise, and operating budgets. Training programs can help owners evaluate which tools are suitable for their needs and determine how to introduce them into existing processes.
The participation of major AI companies also gives the initiative access to technology providers that can deliver specialized learning opportunities and resources.
Goldman Sachs’ broader $500 million commitment will support the expansion of 10,000 Small Businesses, with the aim of reaching another 10,000 companies through education, access to capital, and support services. The Small Business AI Institute will form a central part of that effort as entrepreneurs respond to changing technology and market conditions.
Since 2010, nearly 20,000 entrepreneurs across all 50 states and four U.S. territories have completed the 10,000 Small Businesses program. Their combined annual revenue exceeds $32 billion, and they collectively support more than 350,000 jobs, according to Goldman Sachs.
The firm reports that program graduates add jobs four times faster than similarly sized U.S. businesses, underscoring the employment contribution associated with the program’s alumni network.
The new institute builds on this existing foundation by addressing a technology that could influence how small businesses operate, compete, and grow. Through its partnerships with leading AI companies, Goldman Sachs aims to help entrepreneurs develop the knowledge and skills needed to apply AI to their businesses.
By combining AI education with research, capital-related initiatives, and existing small business support services, the Small Business AI Institute is intended to help more American entrepreneurs participate in the expanding AI economy and pursue new opportunities for business growth.
Source link: https://www.goldmansachs.com
