Home Artificial Intelligence Citadel, the Hedge Fund with Record-Breaking Returns, in Talks for a Business-Wide ChatGPT License

Citadel, the Hedge Fund with Record-Breaking Returns, in Talks for a Business-Wide ChatGPT License

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  • Ken Griffin, the head of Citadel, stated that his firm is currently negotiating to obtain a ChatGPT license for the entire business.
  • Griffin noted that this technology has a significant influence on their operations and could aid them with coding-related activities.
  • Previously, Citadel had achieved impressive results by adopting a science-oriented approach, which resulted in substantial profits after the recruitment of a team of scientists last year.

Ken Griffin, the head of Citadel and Citadel Securities, has revealed that his companies are currently in talks to obtain a business-wide ChatGPT license in order to leverage the potential of artificial intelligence. In a recent interview, Griffin praised the OpenAI chatbot as the “fastest-growing consumer application in the history of the internet”. He stated that this technology has a significant impact on their operations, from assisting developers to write better code to analyzing various types of information in different languages.

Since its launch in November, ChatGPT has gained widespread popularity due to its human-like language abilities. It has been utilized to provide real estate advice and tips on starting a business, and has even been used by some workers to simplify their tasks.

According to Griffin, the implementation of ChatGPT would greatly impact Citadel’s operations. “It will take an enormous amount of work that’s done today by people, and do it in a distinctly different, highly automated, efficient way,” he stated.

Citadel has previously experienced success by adopting a science-oriented approach, as demonstrated by its remarkable $8 billion in profits on commodity trades last year. The firm’s top performance in the hedge fund industry last year resulted in a record-breaking $16 billion in profits for investors, and it has continued to grow, with a 2.8% increase in profits this year.

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