Investment Firm Prospers as Half Human, Half Machine
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Photographer: Peter FrommenwilerThis article is for subscribers only.
Hi, it’s Ed in New York, bringing you the inside story of how a secretive robot is helping one private equity firm pick winning bets. We’re also looking at how two personal-care companies finally got regulators to agree to a deal, and renewed interest in Italian soccer league Serie A.
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Robots have become de rigueur in almost every aspect of finance—from helping hedge funds beat human traders to handling banks’ customer service calls. But artificial intelligence has barely penetrated the old school world of private equity, where swagger and a monogrammed shirt have long been considered the most reliable way to source deals.