Citadel Securities Rebuts Citrini ‘Intelligence Crisis’ Scenario

The rapid expansion of artificial intelligence is unlikely to trigger mass job losses, according to a research note by Citadel Securities, pushing back against a widely circulated report that roiled markets this week.

History shows that “successive waves of technological change have not produced runaway exponential growth, nor have they rendered labor obsolete,” macro strategist Frank Flight wrote in a note Tuesday.