Citadel Securities & Jane Street need people to show people how to use AI
There are different ways to earn a $300k salary working with AI at Jane Street. On one hand, you can be an AI researcher building machine models. On the other, you can be a "skilled educator" able to instruct Jane Street people in the actual use of machine learning.
Take your pick. The electronic trading firm currently has both roles open. In salary terms, at least, the pay is similar.
It's tempting to presume that when bonuses are added in, pay might be higher for the Jane Street researcher building deep learning models powering its trading strategies, than for the machine learning educator training Jane Street staff in the use of AI assistants.
But this would be to mistake the problem. It's becoming increasingly apparent that simply knowing how to use AI is in itself a valuable skillset.
Hence, Citadel Securities' chief technology officer Josh Woods is the firm's most "in-demand" executive among clients according to today's Bloomberg article on the firm. This isn't because clients want to know about Citadel Securities' high performance technology culture, but because they reportedly want to hear his thoughts on navigating AI and automated trading systems. Woods has become Citadel Securities' de facto client educator in chief.
Equally, the Wall Street Journal reports today that OpenAI has engaged consulting firms like Accenture and PWC to teach clients how to use Codex, its AI coding tool. “Helping companies bridge that gap between how to use it, how to expand it and how to move even more quickly is part of our responsibility," declares OpenAI's chief revenue officer Denise Dresser.
Failing to use AI properly has a cost. Either productivity will be dented when it is used insufficiently (based upon our calculations, Citi's average employee uses AI once a day). Or, there will be reputational damage when it is used too zealously (witness the AI hallucinations that led $2k an hour law firm Sullivan & Cromwell to cite cases incorrectly earlier this month).
In both circumstances, having someone who can teach people about machine learning will help. Even if that teacher does cost $300k+. Just ask Jane Street.
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