Goldman Sachs Commits $500 Million to Launch Small Business AI Institute and Support 10,000 Businesses
Goldman Sachs has announced the launch of the Goldman Sachs Small Business AI Institute, a major expansion of its long-running 10,000 Small Businesses program. The new initiative is designed to help entrepreneurs across the United States adopt artificial intelligence (AI), apply emerging technologies to everyday business operations and strengthen their ability to grow and compete in an increasingly digital economy.
The Small Business AI Institute will work with leading artificial intelligence companies, including Anthropic, Google, Meta and OpenAI. Through these partnerships, the initiative will provide small business owners and their employees with practical AI education, access to technology tools, workshops and resources intended to make AI adoption more accessible.
The launch forms part of a new $500 million commitment from Goldman Sachs to support the next phase of its 10,000 Small Businesses program. The funding will help deliver business education, access to capital and additional support services to another 10,000 businesses. The investment reflects the firm’s continued focus on entrepreneurship, employment growth and the role of small businesses in the American economy.
Goldman Sachs Expands Its Longstanding Small Business Initiative
Goldman Sachs launched its 10,000 Small Businesses program in 2010 to help entrepreneurs strengthen their businesses through education, access to capital and business support. Since its introduction, nearly 20,000 entrepreneurs from all 50 U.S. states and four U.S. territories have completed the program.
The initiative has focused on helping business owners develop the knowledge and resources needed to manage operations, improve performance, create employment opportunities and pursue long-term growth. Its expansion into artificial intelligence reflects the increasing importance of technology in business decision-making and day-to-day operations.
According to Goldman Sachs, graduates of the program add jobs four times faster than similarly sized businesses in the United States. Collectively, these businesses generate more than $32 billion in annual revenue and support over 350,000 jobs.
The new $500 million commitment will extend the program’s reach by supporting an additional 10,000 businesses. Alongside traditional business education and capital access, the expanded initiative will place greater emphasis on helping entrepreneurs understand and use AI technologies.
Goldman Sachs Chairman and Chief Executive Officer David Solomon said the firm has invested in small businesses for more than 15 years because of their importance to job creation. He noted that major technological changes have historically benefited businesses that adapt quickly.
Solomon said the new commitment is intended to ensure that entrepreneurs responsible for creating jobs in America have the resources and knowledge to participate in the emerging AI economy.
Small Business AI Institute Focuses on Three Strategic Priorities
The Goldman Sachs Small Business AI Institute will concentrate on three main areas: AI education, research and improved access to capital.
The first priority is to deliver high-quality AI education to small business owners throughout the country. Many entrepreneurs are interested in using artificial intelligence but may lack the technical knowledge, training or resources to apply it effectively. The Institute aims to address this challenge through practical learning opportunities that connect AI capabilities with real business needs.
The second priority involves publishing research examining how small businesses are using AI. By studying adoption trends, business applications and the challenges entrepreneurs encounter, the Institute intends to build a clearer understanding of AI’s role in smaller organizations.
The third priority is to support AI-enabled expansions in access to capital for small businesses. Access to financing remains an important factor in business development, particularly for companies seeking to invest in technology, expand operations or enter new markets. The Institute’s work will explore ways AI can support improvements in this area.
Together, these priorities are intended to help small businesses move beyond general awareness of artificial intelligence and toward practical implementation. The objective is to provide entrepreneurs with knowledge and tools that can be incorporated into their existing business models.
Anthropic Partnership to Provide Applied AI Education
As part of its initial activities, the Institute will develop a new learning series with Anthropic focused on applied AI for small businesses. The program will be designed to help entrepreneurs understand how AI can be used to address operational challenges and support business growth.
The collaboration will also include hands-on workshops for alumni of Goldman Sachs’ 10,000 Small Businesses program. These sessions will give participants opportunities to explore AI applications and learn how to incorporate technology into their business activities.
In addition, Goldman Sachs and Anthropic will collaborate on research into AI adoption among small businesses. The research is expected to contribute to a better understanding of how entrepreneurs are using AI, what obstacles they face and where additional education and resources may be needed.
Anthropic Co-founder and President Daniela Amodei said small businesses represent a significant part of the American economy but have traditionally operated without the resources available to larger companies.
Amodei said artificial intelligence has the potential to reduce this gap by giving smaller organizations access to capabilities that were previously more difficult to obtain. She highlighted the importance of ensuring that the benefits of AI reach startups and family-owned businesses, rather than being concentrated among large enterprises.
Through the partnership, Anthropic aims to help small business owners use its Claude AI technology to improve how work is performed and potentially incorporate AI capabilities into their own products and services.
Google to Extend AI Training to Nearly 20,000 Entrepreneurs and Employees
The Small Business AI Institute will also partner with Google to make its Grow with Google AI Professional Certificate available to almost 20,000 small business owners and their employees.
The initiative will include three months of no-cost access to Google AI Pro, giving participants an opportunity to explore Google’s AI tools while developing their understanding of how artificial intelligence can support business activities.
The training is intended to help entrepreneurs and employees build practical AI skills. As businesses increasingly evaluate automation, productivity tools and AI-supported workflows, accessible education can help organizations determine which technologies are relevant to their needs.
For smaller companies, the ability to use AI effectively may support a range of activities, including administrative work, customer communication, content development, information analysis and internal processes. The training program will help participants become more familiar with AI capabilities and consider how those capabilities can be applied within their organizations.
Ruth Porat, President and Chief Investment Officer of Alphabet and Google, said small businesses are central to the American economy and local communities. She noted that new technologies can provide opportunities to accelerate growth, profitability and hiring.
Porat said the partnership with Goldman Sachs and the Small Business AI Institute will put practical tools and training directly into the hands of nearly 20,000 entrepreneurs, helping them prepare for future business opportunities.
Meta Partnership to Introduce AI Tools Through Muse for Small Business
Meta is another major technology partner supporting the Institute’s efforts. Through its Muse for Small Business initiative, Meta will collaborate with Goldman Sachs to provide entrepreneurs with AI tools and training that can be used in their businesses.
The partnership reflects Meta’s continued focus on supporting small businesses that use its platforms to reach customers, promote products and develop commercial relationships.
Small business owners often rely on digital platforms to communicate with customers, manage marketing activities and build brand awareness. AI-powered tools may help simplify certain tasks and make it easier for entrepreneurs to manage their online presence.
Meta President and Vice Chairman Dina Powell McCormick said small business owners are important contributors to entrepreneurship, employment and economic activity. She also highlighted Meta’s role in supporting more than 200 million small businesses across its platforms.
McCormick said the company is pleased to join Goldman Sachs’ Small Business AI Institute and continue working to make the benefits of advanced AI technology more accessible to entrepreneurs.
The collaboration will focus on helping business owners understand and use AI capabilities through Muse for Small Business, extending the range of technology resources available through the Institute.
OpenAI to Deliver Tailored AI Workshops Across the United States
The Institute’s partnership with OpenAI will focus on delivering AI workshops tailored to small business owners. These workshops will take place across the country in collaboration with community college partners associated with Goldman Sachs’ 10,000 Small Businesses program.
The sessions are expected to help entrepreneurs understand how AI tools can be applied to practical business situations. By working with community colleges, the initiative will use an established network of educational partners to reach business owners in different regions.
OpenAI’s participation will bring its AI technologies, including ChatGPT, into the Institute’s training activities. The workshops will be designed around the needs of small businesses rather than focusing exclusively on technical concepts.
OpenAI Co-founder and Chief Executive Officer Sam Altman said artificial intelligence could create significant opportunities for entrepreneurship and small businesses. He noted that AI is reducing the gap between developing an idea and turning it into a functioning business.
Altman said the partnership with Goldman Sachs will help more entrepreneurs build and grow their businesses with ChatGPT. His comments reflect the broader expectation that AI tools could make certain business capabilities more accessible to individuals and organizations with limited resources.
For small businesses, these technologies may provide support in areas such as drafting communications, researching markets, organizing information, generating ideas and improving productivity. The workshops will give participants opportunities to explore these applications and consider how they can fit into their operations.
Survey Shows Rising AI Adoption Among Small Businesses
The launch of the Small Business AI Institute comes as artificial intelligence adoption among small businesses continues to increase.
A survey released by Goldman Sachs alongside the announcement examined AI usage among more than 2,400 graduates of the 10,000 Small Businesses program. The findings indicate that 86% of respondents reported using AI in their businesses, compared with 56% in 2024.
This increase suggests that AI has become more widely recognized as a useful business technology over the past two years. Entrepreneurs are increasingly exploring ways to use AI tools to support daily operations and improve productivity.
However, the survey also identified a significant gap between initial adoption and full integration. Only 15% of respondents said AI was fully integrated into their core business operations.
The findings indicate that many businesses are still at an early stage of implementation. While entrepreneurs may already be experimenting with AI tools, incorporating them consistently into important workflows can require additional training, planning and technical understanding.
More than three-quarters of the surveyed graduates said they could benefit from additional training and resources. This points to continued demand for practical education that helps business owners move from occasional AI use toward more structured applications.
The survey results provide an important foundation for the Institute’s activities. By focusing on education, research and access to resources, Goldman Sachs and its technology partners aim to address the challenges that may prevent small businesses from making greater use of AI.
Addressing the Technology Gap Between Small and Large Businesses
Large corporations often have dedicated technology teams, substantial investment budgets and specialized employees who can evaluate and implement new technologies. Small businesses, by comparison, may have limited financial and operational resources.
This difference can make it difficult for smaller organizations to adopt emerging technologies at the same pace as larger competitors. Business owners may recognize the potential benefits of AI but lack the time, expertise or funding required to introduce new systems.
The Goldman Sachs Small Business AI Institute is designed to help address these barriers by combining financial support with training and access to technology partners.
The participation of Anthropic, Google, Meta and OpenAI brings together several major AI providers under a single initiative. Each partnership will contribute different tools, learning opportunities and resources to support entrepreneurs.
The program’s emphasis on practical education is particularly important because AI adoption is not simply a matter of obtaining access to software. Business owners also need to understand how to evaluate AI-generated information, protect business data, identify suitable use cases and assess whether a particular tool delivers meaningful value.
By offering workshops, professional certificates and research, the Institute intends to help entrepreneurs make more informed decisions about technology investments.
$500 Million Commitment Supports the Next Phase of 10,000 Small Businesses
The $500 million commitment represents a significant expansion of Goldman Sachs’ support for American small businesses. The funding will support the next phase of the 10,000 Small Businesses program, with the goal of reaching another 10,000 companies.
The initiative will continue to provide business education, access to capital and support services while adding a stronger focus on AI readiness and adoption.
The expansion builds on the program’s existing network of nearly 20,000 graduates. These entrepreneurs collectively generate more than $32 billion in annual revenue and employ over 350,000 people, demonstrating the economic contribution of businesses supported by the program.
Goldman Sachs Global Head of Corporate Engagement Asahi Pompey said the AI economy is a small business economy and emphasized the importance of making AI adoption practical, accessible and immediate.
Pompey’s comments underline the Institute’s central objective: helping entrepreneurs use emerging technology in ways that address real business requirements.
Strengthening Small Business Participation in the AI Economy
The launch of the Goldman Sachs Small Business AI Institute represents a new phase in the firm’s broader small business development strategy. By combining a $500 million commitment with partnerships involving leading AI companies, Goldman Sachs aims to expand access to technology education and business resources across the United States.
The initiative comes at a time when AI adoption is increasing among entrepreneurs, but full integration remains limited. The survey of more than 2,400 program graduates highlights both the growing interest in AI and the need for additional training.
Through its work with Anthropic, Google, Meta and OpenAI, the Institute will provide learning programs, workshops, research and access to AI tools. These efforts will complement the wider 10,000 Small Businesses program, which continues to focus on education, financing and business growth.
As the initiative expands, its focus will be on helping entrepreneurs understand how artificial intelligence can support their operations, improve productivity and create opportunities for sustainable growth. The broader commitment reflects Goldman Sachs’ view that small businesses should have the knowledge and resources needed to participate in the next stage of technological development.
Source link: https://www.goldmansachs.com
