Decisive strides in AI’s progress this year have stoked the buzz around the technology’s transformative potential, and asset managers – specifically hedge funds and private equity firms – are expecting it to change the way deals are sourced, investment decisions are made and value is created in portfolio companies. Their narrative has markedly shifted from ‘whether’ they should implement AI to ‘how’ they should do so. We learn in this report just how challenging yet crucial it is to answer that question.