AI Is Going to Change the World But No One Knows How Yet Rubenstein Says

If I look at what they're doing, part of it is an AI frenzy. In your discussion and in your work at Carlyle, is there part of AI that just seems to be a moment of fad? This company, Ancestry, was started about 40 years ago, and they've relied on typical genealogical records. But now with AI, they can feed into their computers much more information, much more rapidly than before. And as a result, what used to take nine months to feed into their computers, they can do now in maybe nine days or even nine hours in some cases. The result is that they have a very good ability to figure out where you came from. And for example, Tom, do you know where your ancestors are or where they came from? Well, they're, you know, the ones that weren't in jail. Ross came over in handcuffs. I know that. The guy named Ross, it's my middle name. He came over in handcuffs. David, aside from genealogy and the handcuffs of the Tom Keen predecessors, the ancestors, I am curious about what this says going forward for a whole host of different companies that need to make serious investment in artificial intelligence in order to glean the benefits of this. Is this something that gets isolated into bigger companies that have the capacity to invest some real money? Every company in the United States and probably every company in the world is trying to figure out how artificial intelligence, generative artificial intelligence particularly, is affecting their company. I know my company, we're looking at it everywhere. People are looking at it. Nobody knows exactly how it's going to affect their company. If you go back to the dawn of the internet age, many people made predictions about the internet that turned out to be wrong. Some turned out to be right. But internet truly changed the way we live and think and exist. And I think generative AI will and certainly will for a lot of these younger companies as well because now they can do things they didn't have the resources to do before because generative AI enables them to do things that they couldn't have done years ago without this kind of AI technology. So it is going to change the world, but nobody really knows how. Do you have a sense, David, of which, especially from your seat at Carlisle, of which industries are adapting to certain artificial intelligence efficiencies more quickly than others? Clearly the technology companies that have a lot of technology people in their employment roles already and people that are engineers, people that really live and die technology are probably at an advantage. So right now the companies that seem to be doing extremely well on AI are the large technology companies like Google, Microsoft, Facebook and so forth. But clearly there are going to be a lot of small companies coming along in niches that nobody knows exist today. For example, there are a lot of internet companies that came along that weren't thought to be possible 25 years ago and now they're dominant companies. Just think about this. About 50 years ago there was no Google or Microsoft and so forth and now they run our lives practically.