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

Cathie Wood, the founder of Ark Investment Management LLC, has stated that advancements in artificial intelligence (AI) will allow the fund to reduce the number of new hires it needs to make. According to Wood, the disruptive technology investor can now rely more on AI to handle various tasks, reducing the need for additional human resources. The article suggests that Ark Investment Management, known for its focus on innovative technologies, is adapting to the changing landscape by leveraging the capabilities of AI. This shift in approach is likely to impact the company's hiring plans, as it can potentially accomplish more with fewer human employees. The article does not provide specific details on the types of AI technologies Ark is implementing or the specific roles and tasks that will be affected by this change. However, it highlights the growing influence of AI in the financial industry and the potential for it to reshape the way investment management firms operate.