(Bloomberg) -- David Siegel, co-founder of $35 billion quantitative hedge fund firm Two Sigma, says he’s “very worried” that machines could soon cost large swaths of the workforce their jobs.

“Most people in the bulk of the job market are not involved in super-high-value jobs,” Siegel said Monday at the Milken Institute Global Conference in Beverly Hills, California. “They are doing routine work and tasks and it’s precisely these tasks that computers are going to be better at doing,” just as combustion engines replaced horses or ATMs replaced most bank tellers.

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