How AI Can End Recessions As We Know Them
The post How AI Can End Recessions As We Know Them appeared on BitcoinEthereumNews.com. Ken Griffin wasn’t buying the AI panic. At Davos in January, the billionaire founder of Citadel, the Miami hedge fund giant with $68 billion in investment capital, dismissed artificial intelligence’s output as “garbage.” Then this month, Griffin did a 180. He watched AI agents do complex work in hours that once took Citadel employees weeks or even months. Citadel’s entire business is built around hiring brainiacs. More than 40% of its employees hold advanced degrees, including about 270 Ph.D.s across 40 fields. These are some of the highest-paid workers in America –the median annual compensation for software engineers at Citadel is more than $500,000– and software that can replace even part of that labor could save firms like Citadel enormous amounts of money. Griffin still said he went home depressed because machines were starting to do work that once only those people could do. Economists may soon