Is anyone currently using AI in their diligence efforts?
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I’m curious whether any course participants are currently using AI for any of their diligence workstreams? If yes, what’s good or bad about it? Is it actually proving to be better, cheaper or faster? Or is this all a myth?
Using chat GPT. Overall, while AI has the potential to significantly enhance due diligence processes, its effectiveness depends on various factors, including data quality, algorithm accuracy, human oversight, and organizational readiness. When implemented thoughtfully and complemented with human expertise, AI can deliver tangible benefits in terms of efficiency, accuracy, and insights in M&A due diligence. However, it’s essential to recognize its limitations and actively manage potential risks to maximize its value. So always check the outcome in any case of scenarios.
I’ll be following this topic.
In my practice (Legal) we do not use AI currently for any aspects of due diligence exercises.
I have heard as indicated by Iryna above, of persons using ChatGPT as a source to initiate search results but i personally am old school and not sold on this level of technological dependence.Our (younger) Analysts are using Chat GPT effectively in the DD process for customer and profitability analysis.
Using ChatGPT in some aspects of the diligence process but not seen widespread use of it at this stage.
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