The hedge fund that just posted the best return in history is negotiating a company-wide ChatGPT license
- Citadel boss Ken Griffin said his companies are in talks to secure a business-wide ChatGPT license, per Bloomberg.
- "This branch of technology has real impact on our business," he said, adding it would help with tasks like coding.
Citadel boss Ken Griffin said his companies are in talks to secure a business-wide ChatGPT licence, 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 a Bloomberg interview on Tuesday.
"This branch of technology has real impact on our business," Griffin said. "Everything from helping our developers write better code to translating software between languages to analyze various types of information that we analyze in the ordinary course of our business," he added.
ChatGPT shot to fame right after its November release, impressing crowds with its human-like language abilities. It's been used to generate real-estate advice and provide tips on starting a business, while some workers have utilized it to make their jobs easier.
Insider reporters even put the tool to the test by asking it for dating and investing advice.
According to Griffin, ChatGPT would undertake a huge amount of responsibility at Citadel. "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 said.
Citadel has had success in taking a science-friendly approach in the past. It made as much as $8 billion on its commodities trades last year, thanks to a team of scientists and analysts that helped the company spot opportunities.
Griffin's flagship firm reigned supreme among hedge funds last year, with a stellar performance. The powerhouse is up 2.8% this year after notching a record-breaking $16 billion in profit for investors.
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