Hedge funds and other money managers are increasingly leaning on ChatGPT for marketing, and to summarize vast reports, according to a new survey.
In March, Citadel’s Ken Griffin said his firm is negotiating an enterprise-wide license to use ChatGPT, betting that it will automate an “enormous amount of work.” Hedge fund giant Man Group is also using the technology to detect patterns in academic papers, and it’s looking into delegating the grunt work of investor relations to the AI tool.
When asked about how AI would affect alternative asset management over the next six to 12 months, the money managers generally predicted massive changes — including shrinking workforces and disrupting the quant and coding market. Striking a more positive note, managers also see AI boosting firms’ efficiency.
Source: The AI Report (theaireport.net)
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