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Fortune
Fortune
Nick Lichtenberg

Billionaire Ken Griffin used to dismiss AI as 'garbage.' Here's why he changed his mind—and why he's 'depressed'

griffin (Credit: Krisztian Bocsi/Bloomberg via Getty Images)

Just months after calling artificial intelligence “garbage,” Citadel CEO Ken Griffin is now warning that the technology will fundamentally reshape society—and says he went home “depressed” after seeing what it could actually do.

Griffin, the hedge fund billionaire who manages one of the world’s most powerful trading firms, had long been one of the most prominent skeptics of AI in finance. As recently as January 22 at the World Economic Forum in Davos, he told a panel that while AI might look impressive on the surface, the moment you dug beneath it, “it’s all garbage.”

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