Billionaire investor Steve Cohen expressed his belief on Wednesday that the advancement of artificial intelligence (AI) technology will contribute to the adoption of a four-day workweek.
Cohen, who owns the New York Mets, shared his perspective on CNBC’s “Squawk Box,” noting that he sees the shorter workweek as inevitable due to the emergence of AI and observations that productivity tends to decline on Fridays.
Mets owner Steve Cohen (Credits: Yahoo News Canada)
He emphasized that while the timing of this shift is uncertain, he views it as an eventual outcome aligned with a trend toward more leisure time. Citing this belief, Cohen mentioned his investment in the golf startup league TGL in 2023, which he sees as part of this broader theme.
However, he clarified that despite his personal views, he does not plan to grant his traders Fridays off as long as the markets remain open. He acknowledged that while this might not apply to his own business, he anticipates that the majority of people will eventually have the opportunity to enjoy a three-day weekend.
Billionaire Mets owner Steve Cohen (Credits: Bloomberg)
Cohen’s remarks come amid legislative efforts to institutionalize a four-day workweek in the United States. Senator Bernie Sanders introduced a bill last month, known as the Thirty-Two Hour Workweek Act, aimed at establishing a standard four-day workweek without reducing pay.
The bill received support from Senator Laphonza Butler and a companion bill was introduced in the House by Representative Mark Takano. However, the proposal faced criticism from Republicans.
