Ken Griffin speaks with Citadel and Citadel Securities interns during a discussion moderated by Citadel software engineer and former intern Bharath Jaladi.
Courtesy: Citadel
Ken Griffin, founder and CEO of Citadel, said he remains skeptical that artificial intelligence could soon make human jobs obsolete, as he sees flaws in machine learning models in certain scenarios.
“With the emergence of large language models, we are at a point that is widely viewed as a real turning point in the evolution of the technology. “Some are convinced that within three years, almost everything we do as humans will be done in one form or another using LLMs and other AI tools,” Griffin said Friday during an event for Citadel’s new intern cohort in New York. “For several reasons, I am not convinced that these models will achieve such a breakthrough in the near future.”
The rapid rise of AI has got the world thinking about its far-reaching impact on society, including technology-related job cuts. Tesla CEO Elon Musk is among many who have repeatedly warned about the threats AI poses to humanity. He called AI “more dangerous” than nuclear weapons and said there will come a point where “no more work is needed.”
Griffin, whose hedge fund and electronic market maker are at the forefront of automation, said machine learning tools have their limitations when it comes to adapting to change.
“Machine learning models do not work well in a world where regimes are changing. Self-driving cars don’t work particularly well in the north because of the snow. When the terrain changes, they don’t know what to do,” Griffin said. “Machine learning models perform much better when there is consistency.”
Still, the billionaire investor believes there is no denying the power of advanced technology in the long term, and even believes it will one day eradicate cancer.
“The increase in computing power is allowing us to solve all kinds of problems that simply weren’t solvable five, 10 or 15 years ago,” Griffin said. “This will radically change healthcare. We will end cancer as you know it in your lifetime.”
Citadel has long placed great emphasis on hiring and does not hesitate to place responsibility in the hands of young employees and even interns, the CEO said.
The company’s internship program has become one of the most competitive in the country. More than 85,000 students applied for about 300 positions this year, for an acceptance rate of less than 0.5%, lower than Harvard University and the Massachusetts Institute of Technology.
“The people we hire today will be the leaders of Citadel not in 30 or 40 years, but in just a few years,” Griffin said.
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2024-07-01 19:43:08
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