AI researchers have struggled with hedge funds' culture around proprietary secrets, which goes against the open-source philosophy foundational to AI and academia.
Some recruiters, including Michael Stover, are seeing double- and triple-digit growth in AI hiring among hedge funds and prop-trading firms.
For heads of AI, he said, hedge funds are dishing out a minimum of $1.5 million in total comp.
But perhaps the top reason hedge funds are interested in the technology is that AI capabilities are bait in the war for investing talent.
It's one of the few large US hedge funds without an executive or centralized team dedicated to AI or machine learning.
Persons:
Ken Griffin's Citadel, Li Deng, Deng, Ken, Ken Griffin, Michael Stover, Stover, ExodusPoint, Balyasny, Agni Ghosh, Stott, isn't, Sumeet Chabria, Conor Twomey, Tim Mace, Mace, May's Ghosh, it's, They're, Peter Finter, Finter, That's, Ghosh, you've
Organizations:
Microsoft, Business, Citadel, Milken Institute, Reuters, Millennium Management, Bloomberg, Balyasny Asset Management, Man, Bank of America, Wall, Wall Street, Tech, Google
Locations:
Chicago, Seattle, Beverly Hills , California, London, San Francisco, Silicon Valley, Wall