Cathie Wood Says Ark Can Cut Back on New Hires Thanks to AI

Developments in artificial intelligence mean fund manager Ark Investment Management LLC can get by with fewer human recruits, the disruptive technology investor’s founder Cathie Wood said.

“We are really thinking carefully about hiring because we’re adopting the Elon Musk philosophy — you really have to make a good case to bring another human being into our organization,” Wood told reporters in Helsinki on Wednesday.