Citadel's Ken Griffin thinks near-term generative AI impact is a hype - report
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The Founder and CEO of Citadel Ken Griffin thinks that artificial intelligence (AI) will be transformative one day but the hype around the technology currently is overblown, CNBC reported.
"I do think the AI community is making a terrible mistake by being full of hype on the near-term implications of generative AI," said Griffin at an event for Citadel's new class of interns in Fort Lauderdale, Florida.
Griffin also said that the fear of AI ending skilled jobs was far from reality.
In the past few months, AI has been the talk of the town with several companies announcing initiatives to get a piece of the technology. Earlier this month, Nvidia (NASDAQ:NVDA) briefly made it to the $1T market cap as the stock rode a wave of investor exuberance surrounding AI.
Following the release of Microsoft (NASDAQ:MSFT)-backed OpenAI's ChatGPT â which takes written inputs from users and provides human-like response â Chinese companies including Alibaba (BABA), SenseTime (OTCPK:SNTMF) and Baidu (BIDU) have launched their own generative AI services. Even Google's (GOOGL) (GOOG) AI technology is also set to power online travel agency Priceline's virtual travel tool, as per a report.
According to a recent study, Chinese organizations have launched 79 large language models ((LLMs)) in the past three years in an effort to boost their AI technology capabilities.
"Hereâs the problem with large language models: they are built on the past, everything we do is about the future," added Griffin, according to the report. "We are at the start of the journey of large language models."
However, Griffin noted that it will have real impact in the economy.
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