English transcript

Let me just share a few thoughts with you on this.

Number one is, in the last few months,

there has been a step change function

in the productivity of the AI toolkit.

It is profoundly more powerful

than it was just nine months ago.

And for us at Citadel, that has allowed us

to unleash a much broader array of use cases for AI.

And it has been really interesting to watch,

to be blunt, work that we would usually do

with people with masters and PhDs in finance

over the course of weeks or months,

being done by AI agents over the course of hours or days.

So these are not mid-tier white-collar jobs.

These are like extraordinarily high-skilled jobs being,

I'm gonna pick a word, being automated by agentic AI.

And I gotta tell you, I went home one Friday

actually fairly depressed by this,

because you could just see how this was going

to have such a dramatic impact on society.

Like, and when you witness it in your own four walls,

when you see work that used to be man-years of work

being done in days or weeks,

it's like, wow, like that's the first time

I've seen real impact in our four walls.