Over the Memorial Day weekend I ran across two stories on private equity and artificial intelligence.
How fitting for the heartless greed and leverage boys to embrace artificial intelligence, the tool for reducing jobs on a widespread basis. Many AI firms are directly marketing to PEUs. Altiva's website states:
Three major areas have emerged as ideal for AI assistance:
- Back-office processes. Firms are ditching manual processes and adopting AI to complete repetitive tasks faster, more accurately, and cost-effectively. And as a result, they’re freeing back-office staff to work on more important projects.
- Portfolio monitoring. Keeping an eye on portfolio companies used to be a labor-intensive activity. However, AI can do in seconds what used to take hours.
- Target identification. While target selection must be performed by humans and their understanding of the nuanced interplay of several factors, firms can leverage AI to quantify and narrow down the field. This saves team members a significant amount of time.
The Carlyle Group tried AI for its investment processes and liked it so much they invested in the company.
AI firm Gemedy sued Carlyle and affiliate TwoSix Technologies for IP infringement earlier this year.
Spooool added more PEU AI pieces. Every piece read as if they were written by AI. News from the AI's neutron bomb future for employment highlighting the most greedy, heartless corporate owners.
The greed and leverage boys want all the spoils and elected officials are just fine with that.
Update 11-2-23: Microsoft replaced its 800 person news team with AI and posted a number of false and bizarre stories. No surprise that algorithms did something contrary to the public interest of having informed citizens.
