Deals
IAC’s Joey Levin Eyes M&A Prospects for Assets Using AI Tools
- CEO said ‘AI is going to have a real impact on all businesses’
- A sale of IAC-backed news publisher The Daily Beast was pulled
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The rise of artificial intelligence has spurred global corporations to increase their spend given the potential upside for business prospects. But IAC Inc.’s Joey Levin isn’t getting distracted by the deal opportunities around the technology’s buzz alone.
“I think we’re on the sidelines — there’s some foundational platforms and technology that are far out of reach,” Levin, IAC’s chief executive officer, said in an interview from Allen & Co’s annual media conference in Sun Valley, Idaho. “But the tools are going to be used by basically all businesses and so we’re more thinking about businesses that will utilize these tools but aren’t foundational.”