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Home»Finance»Ken Griffin says he’s not convinced AI will replace human jobs in near future
Finance

Ken Griffin says he’s not convinced AI will replace human jobs in near future

July 2, 2024No Comments3 Mins Read
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Ken Griffin says he's not convinced AI will replace human jobs in near future
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Ken Griffin speaks to Citadel and Citadel Securities interns throughout a dialogue moderated by Citadel software program engineer, and former intern, Bharath Jaladi.

Courtesy: Citadel

Ken Griffin, founder and CEO of Citadel, stated he stays skeptical that synthetic intelligence may quickly make human jobs out of date as he sees flaws in machine studying fashions utilized in sure situations.

“We’re at what’s broadly considered as an actual inflection level within the evolution of know-how, with the rise of huge language fashions. Some are satisfied that inside three years virtually the whole lot we do as people will likely be completed in a single type or one other by LLMs and different AI instruments,” Griffin stated Friday throughout an occasion for Citadel’s new class of interns in New York. “For a variety of causes, I’m not satisfied that these fashions will obtain that kind of breakthrough within the close to future.”

The fast rise of AI has had the world pondering its far-reaching influence on society, together with technology-induced job cuts. Elon Musk, CEO of Tesla, is amongst many who’ve repeatedly warned of the threats that AI poses to humanity. He has known as AI “extra harmful” than nuclear weapons, saying there’ll come a degree the place “no job is required.”

Griffin, whose hedge fund and digital market maker have been on the forefront of automation, stated machine-learning instruments do have their limits in relation to adapting to modifications.

“Machine studying fashions don’t do effectively in a world the place regimes shift. Self-driving vehicles do not work very effectively within the North attributable to snow. When the terrain modifications, they don’t know what to do,” Griffin stated. “Machine studying fashions do a lot better when there’s consistency.” 

Nonetheless, the billionaire investor thinks the facility of superior know-how cannot be dismissed in the long run, and he even sees most cancers being eradicated sooner or later due to it.

“The rise of computing energy is permitting us to resolve all types of issues that have been simply merely not solvable 5, 10, 15 years in the past,” Griffin stated. “That is going to radically rework healthcare. We’ll finish most cancers as you recognize it in your lifetime.” 

Citadel has lengthy positioned an amazing emphasis on hiring, not hesitant about placing duty into the arms of younger staff and even interns, the CEO stated.

The agency’s internship program has develop into one of the aggressive within the nation. Greater than 85,000 college students utilized for about 300 positions this yr, reflecting an acceptance fee of lower than 0.5%, which is decrease than that of Harvard College and the Massachusetts Institute of Expertise.

“The folks we rent right now are going to be the leaders of Citadel not in 30 or 40 years, however in only a few years,” Griffin stated.

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