Ken Griffin, founder and CEO, Citadel said that he doesn’t believe that the hype around the short-term effects of generative AI is the fault of the AI community. He believes that with the amount of publicity they are generating, they are essentially doing everyone a great disservice.
According to Griffin, 54, The innovative technology will be transformative one day but it is still in its infancy. A surge of skilled professional occupations could be eliminated by AI, according to the billionaire investor, but this is far from happening.
Millions of white-collar jobs would be lost if you believe the CEOs of tech firms, according to Griffin. He says, ‘Not that fast.'” While some professions are accepting of mistakes, finance requires extreme accuracy. You have to be really precise as a lawyer.
This year, AI has dominated news stories. As a result, Wall Street saw a purchasing frenzy that momentarily caused major enabler Nvidia to surpass a $1 trillion market valuation. The popular chatbot ChatGPT, which could process written user input and respond in a manner akin to a human, became an instant sensation everywhere and the fastest-growing piece of software in history. Even renowned value investor Warren Buffett claimed to have given it a try by asking the chatbot to compose a song in Spanish.
Large language models have the following drawback: they are based on the past, whereas everything we do is focused on the future, according to Griffin. The voyage of massive language models has just begun. It will be fascinating to follow this journey’s progression. Real effects will be seen throughout the economy.
A group called the Centre for AI Safety has issued a startling warning, claiming that AI may be endangering humans.
Coders under attack?
Griffin noted that software engineering and programming are two fields where AI may have a significant impact. Citadel is in the process of acquiring a company-wide license to use ChatGPT from OpenAI.
When an intern inquired about the effect of AI on his company, Griffin responded that Programming is going to be a big target for generative AI. If you’re a software engineer, you should be sure to position yourself right up against the problems that need to be solved in the relevant domains. Your capacity to resolve issues will determine the direction of your career. The days of saying “I’m a good programmer” are quickly coming to an end.
Many of Citadel’s interns have backgrounds in computer science. The internship programme at the company is now very competitive. This year, 69,000 students applied overall for just 300 openings. Even lower than Harvard and MIT, the acceptance rate of less than 1%.
Griffin, who studied programming in school as well, emphasized that software engineering will stay a part of the toolset that helps him operate his business because the skill is essential in recognizing and resolving business issues.
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