Business Leaders and Citadel’s Griffin Say AI Will Transform Economies


On the second day of the Bloomberg New Economy Forum in Singapore, global business executives discussed how developing technologies could alter people’s lives and their places of employment in a world that is becoming more fragmented.

Ken Griffin, the creator of Citadel, stated on Thursday that “generative AI is the next new thing in machine learning.” “This will serve as yet another reminder to corporate America to concentrate on increasing productivity.”

According to veteran industry CEO Jeffrey Katzenberg, artificial intelligence will significantly reduce the cost of making successful animated films. According to GRO Intelligence’s creator and CEO, Sara Menker, machine learning is assisting in the global forecasting of supply, demand, and prices for all agricultural commodities.

Regarding the political future, Hillary Clinton stated she anticipates a rematch between Donald Trump and Joe Biden in the US presidential election of 2024, with the Democrat defeating the former. After the present battle in Gaza ends, she argued, both Israel and the Palestinians need new leadership if they are to reach a peace agreement.

The world economy is fracturing due to tensions between the two largest economies in the world and conflicts in Europe and the Middle East, which are causing businesses and investors to reevaluate their business practices.

While these issues took center stage on the first day of the three-day summit, Thursday’s talks concentrated more on the ways in which technology advancements may benefit businesses and society as a whole. According to Griffin of Citadel, AI is already helping his company.

The adoption of artificial intelligence (AI) will accelerate the entertainment industry’s digital transformation by a factor of 10, according to 72-year-old Katzenberg, who first gained notoriety as a production executive at the movie studio owned by Walt Disney Co. Prior to forming DreamWorks with filmmaker Steven Spielberg and Hollywood executive David Geffen.

“Any aspect of media, entertainment, and creation will be more impacted than any other industry, to my knowledge,” stated Katzenberg. “In the good old days, producing a top-notch animated film would take years and 500 artists. In three years, I don’t think it will need ten percent of that.

Although he warned that adoption of AI would be gradual, Mark Wiseman, chairman of Alberta Investment Management Corp., also discussed the potential advantages of AI in the future.

He predicted that “we’re going to be in the same boat as we’ve been in with other technologies.” “It’s going to alter the world.” It will take longer for it to happen, but it will alter the world in ways we may not have anticipated.

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