[Goldman Sachs: AI is expected to increase banking industry income through fee-based business growth and cost reduction and efficiency improvement] On September 23, Goldman Sachs stated that artificial intelligence is expected to have a positive impact on the credit status of the banking industry as a whole, mainly through two paths: First, banks can obtain investment banking and financing income from the AI ​​capital expenditure cycle, including consulting, underwriting, syndicated loans, asset management and project financing; second, AI can be used for internal automation to improve operational efficiency and control costs. Goldman Sachs pointed out that Bank of America discusses AI capital expenditures more frequently on earnings calls than non-financial companies, reflecting that the construction of AI infrastructure such as data centers is bringing more financing opportunities. The Federal Reserve's January survey of senior credit officers also showed that banks are more willing to lend to companies expected to benefit from AI. Goldman Sachs predicts that if the capacity of the traditional syndicated loan market tightens, banks may further expand the scale of direct financing for AI-related projects. At the same time, AI-related financing needs have driven an increase in the issuance of US dollar bank bonds, showing that bank balance sheets are becoming more involved in financing activities in the AI ​​ecosystem.