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Billionaire hedge-fund boss Steve Cohen says a 4-day workweek is coming — and it's part of why he made a big investment in golf Steve Cohen, CEO and chair of Point72 Asset Management, predicts that a four-day workweek is on the horizon, largely due to advancements in artificial intelligence and observations that productivity dips on Fridays. In an interview with CNBC, he expressed his belief that the adoption of a shorter workweek is inevitable, suggesting that investing in leisure, travel, and experiences would be wise in anticipation of Americans working fewer hours. Cohen, who has significant investments in the sports industry, including a 95% ownership stake in the New York Mets and a commitment to investing around $3 billion in the PGA Tour, anticipates increased leisure time will lead to higher demand in these areas. However, he noted that a four-day workweek might not apply to his employees or those in similar investment firms unless the stock market also moves to a four-day week due to the need for portfolio management even on Fridays. https://lnkd.in/eQKjR4Kj

The Unavoidable Shift Towards a Four-Day Workweek: Insights from Billionaire Investor Steve Cohen Billionaire hedge fund mogul, Steve Cohen, recently proposed a future where the traditional five-day workweek becomes a thing of the past. The founder of Point72 Asset Management believes that the rise of Artificial Intelligence (AI) will pave the way for this significant change in the corporate landscape. "My belief is a four-day workweek is coming," Cohen said. "You know, between the advent of AI, generally, we hear from people that Fridays are just not — people are not as productive on Fridays, and so I just think it's an eventuality." The introduction of AI into various aspects of business operations, Cohen argues, will lead to enhanced efficiencies that may render the traditional five-day workweek obsolete. He believes that the arrival of this four-day workweek is inevitable. The revolution powered by AI has already begun to alter the way businesses operate. With the capability to automate tasks, AI can significantly reduce the time required to perform certain jobs, boosting productivity and potentially freeing up an entire day of the workweek. As more people find themselves with an extra free day, Cohen predicts a rise in leisure activities. He postulates that this shift would open up investment opportunities in sectors associated with leisure and experiences. "Anything around, you know, I would say leisure, travel, experiences, all that type of that stuff, if people have more time," Cohen said of the investment implications from a four-day workweek. One of the leisure activities Cohen is investing in is golf. He recently joined a consortium of investors who have pledged around $3 billion into the PGA Tour. "That should fit into a theme of more leisure for people, which means golf rounds will go up, and you know, interest," Cohen said. "I guess courses will be crowded on Fridays." Despite his prediction, Cohen admits that a four-day workweek might not be applicable for everyone, especially investment firms. These firms operate based on the stock market schedule, which currently runs for five days a week. "If they're taking off Friday and they have a portfolio, that's a problem, OK, if the markets are open," Cohen said of investment managers. While the idea of a four-day workweek may seem far-fetched to some, advancements in AI and automation technologies are making it an increasingly feasible possibility. As with any change, there will be winners and losers. Investors like Steve Cohen, who can foresee these shifts and adapt accordingly, are likely to be among the winners. #ai #digitaltransformation #artificialintelligence #machinelearning

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Some think that AI might lead to a four day work week, but that's a static perspective: if AI does induce higher productivity, the returns to labor supply could be higher and generate even longer hours. 🔍 🤖 AI’s Impact on Productivity Steve Cohen, hedge fund mogul and New York Mets owner, during a CNBC interview, shared his insights on the imminent transition to a four-day workweek, propelled not by his perceptions of the advancements in AI technology. “My belief is a four-day workweek is coming,” Cohen expressed. While the allure of AI drastically enhancing company efficiencies is undeniable, figures like former Treasury secretary Larry Summers adopt a cautious outlook, estimating that the full benefits of AI on labor replacement won’t materialize in the immediate future. Cohen himself refrained from setting a timeline for this transition, focusing instead on the broader implications for leisure and investment opportunities. 💰 Investing in Leisure Cohen’s investment strategy gives us a peek into the potential economic shifts accompanying a shorter workweek. With more discretionary time, industries such as leisure, travel, and experiences are poised for growth. Cohen’s significant investments in sports, especially golf, underscore his belief in the burgeoning demand for leisure activities should a four-day workweek materialize. But that begs the question: will there be an increase in leisure? The time allocated to labor supply has declined over the past few decades (and leisure has gone up), *on average*, but you also see an increase in hours worked among higher earning individuals. Will AI reverse that trend? 📅 While a shortened workweek may seem distant for some sectors, particularly finance, it is certainly possible, but not necessarily because of AI per se. The returns to labor supply could rise, thereby leading to even greater incentives for work among some. It really will depend on equilibrium forces. #FourDayWorkWeek #AI #Productivity #InvestmentTrends #LeisureEconomy #FutureOfWork https://lnkd.in/eGT-ubkN

"Imagine a world where a four-day workweek leads to new investment opportunities in leisure, travel, and experiences. 🌍 **Insights:** - Steve Cohen suggests a four-day workweek could boost investments in leisure, travel, and experiences 🏖️ - This shift may lead to increased spending in recreational activities and tourism ✈️ - Shorter workweeks could potentially reshape how individuals allocate their time and money 🕰️ (Consider how this change could impact your future financial decisions) In a rapidly evolving work landscape, contemplating the implications of such a transition is crucial. How might these emerging trends in work-life balance influence your long-term financial aspirations? #WorkLifeBalance #InvestmentOpportunities #FinancialStrategy" https://lnkd.in/gqffEAg6

📈 Could AI Give Us Fridays Off? Steve Cohen, a well-known hedge fund manager, suggests that advancements in AI might soon allow many of us to skip the typical Friday workday, boosting productivity enough to make a four-day workweek feasible. This isn't just about extra downtime; it’s about using technology to achieve more in less time. The idea has been around for a while, supported by various political figures over the years, but opinions on its practicality vary. While sectors like technology might easily adapt, service-oriented fields could face challenges.Imagine what a three-day weekend could mean for work-life balance and productivity. Is this the next step in evolving our workplaces? What would a shorter workweek look like in your life? 🕒📊 Stay connected with ENCP, LLC—your source for events, opportunities, & insights. #smallbusiness #entrepreneurship #artificialintelligence https://lnkd.in/eSpqywzr

☀️ Summer is here, but productivity doesn’t have to take a back seat! Learn how to manage vacations, boost productivity, and promote work-life balance for your finance team in our latest blog.

☀️ Summer is here, but productivity doesn’t have to take a back seat! Learn how to manage vacations, boost productivity, and promote work-life balance for your finance team in our latest blog.

☀️ Summer is here, but productivity doesn’t have to take a back seat! Learn how to manage vacations, boost productivity, and promote work-life balance for your finance team in our latest blog.