- Citadel boss Ken Griffin said his companies are in talks to acquire an enterprise-wide ChatGPT license, per Bloomberg.
- “This branch of technology has a real impact on our business,” he said, adding that it helps with tasks like coding.
- Citadel has had success with a science-friendly approach in the past, reaping big wins after it hired a team of scientists last year.
Citadel boss Ken Griffin says his companies are in talks to acquire an enterprise-wide ChatGPT license, as they look to harness the power of artificial intelligence.
Griffin, who heads Miami-based hedge fund Citadel and capital-markets firm Citadel Securities, hailed OpenAI’s buzzy chatbot as “the fastest growing consumer application in the history of the internet” in an interview with Bloomberg on Tuesday.
“This branch of technology has a real impact on our business,” Griffin said. “Everything from helping our developers write better code to translating software between languages to analyzing the various types of information we analyze in the ordinary course of our business,” he added.
ChatGPT gained popularity after its release in November, impressing people with its human-like language abilities. It was used to make real-estate advice and give tips on starting a business, while other workers used it to speed up their jobs.
Journalists even put the tool to the test by asking it for dating and investment advice.
According to Griffin, ChatGPT will take on a huge responsibility at Citadel. “It will take a huge amount of work that is currently done by humans, and do it in a very different, highly automated, efficient way,” he said.
Citadel has had success in developing a science-friendly approach in the past. It made about $8 billion in commodity trades last year, thanks to a team of scientists and analysts who help the company spot opportunities.
Griffin’s flagship firm reigned supreme among hedge funds last year, with stellar performance. The powerhouse is up 2.8% this year after earning a record-breaking $16 billion profit for investors.