Forecasting Generative AI in 2024 (PE Hub)

BlueFlame CEO Raj Bakhru talks to PE Hub about how traditional and generative AI are potential paths PE firms are exploring to improve speed and efficiency. Bakhru explains how BlueFlame’s Large Language Model (LLM) can read through financial data, charts and graphics, and can make them searchable as part of the diligence process without relying on pure text.

“That’s a big unlock for private equity given how much of that content exists,” Bakhru said. “The models have gotten significantly better at being able to do data analysis type of work.” The data analysis eases processes like HR analysis and understanding the employee census file. That leans a lot towards the value creation side of PE.

While 2023 was notable for starting the conversation about ChatGPT and generative AI, 2024 will be about PE firms actually applying it in a useful way. The future of generative AI will be about how firms implement it, said Bakhru. “It’s more about actually leveraging it than just playing with it.”

Read the full article here.

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