Goldman Sachs has started accepting applications for a new one-year program that will pay student computer engineers $100,000 to tackle "commercially oriented" research challenges ranging from machine learning to data visualization to trading strategies.
Accepted applicants will be able to access the investment bank's application programming interfaces (APIs).
Goldman also is releasing some of its code to the GitHub software development platform.
The investment bank hopes program participants will engineer tools to browse financial products, or a recommendation engine for institutional research.
The initiative aligns with Goldman's ultimate goal of having its systems underpin more of the world's financial software, as bank executive Adam Korn explains: "We'd rather be the railroad than to try and own every single train that goes on the rails."
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