How AI is becoming more and more human

Upper tier access seeks sectors that offer higher returns over the long term. Companies working in artificial intelligence seem to have all the right cards.

Artificial intelligence, including AI, is not in the news anymore. Private equity funds also marry money and invest heavily A lot of AI companies. In 2020 alone, $75 billion was invested in AI companies, 80 percent of which was split between China and the United States.

The most popular example right now is ChatGPT, an AI that can answer your questions with surprisingly well-written articles. Where a Google search points you to a list of the most relevant web results, ChatGPT gathers information from various sources on the web and processes it coherently into an article. And this within a few seconds. ChatGPT is already good enough to pass the Harvard Law School entrance exam. Bill Gates is already convinced and is investing around $10 billion with Microsoft in OpenAI, the company behind ChatGPT.

In Europe too

Europe is clearly stalling the rear And you have to think about it very strategically. But that doesn’t change the fact that there are interesting European initiatives here too.

AI can never replace humans because it cannot show empathy. AI can help you find the right companies to invest in, but you need a human click to invest.

An AI can help analyze disease symptoms, but a human still wants to hear the results from a doctor.

In other words, AI can think, but not feel. AI has IQ, but not EQ. AI is not empathetic and cannot empathize with feelings.

Rehearsal

I have to say with great empathy that this is no longer true either. For example, there is a German company. Clare & Me. If you are nervous or depressed you can call Clare&me’s AI from WhatsApp and based on what you say and the way you say it (pitch, speed of words, volume of your words), it will listen to you and try to calm you down. Below you. So Claire actually called me and I can tell you, she felt very human. It doesn’t feel like a robot. It’s gross to me A game changer. Even deeply human things like listening can now be done by AI.

Now how is this possible? By rehearsal and imitation. If I listen to depressed people enough, I will soon hear whether the person in front of me is happy or depressed. Once you know that, there are only questions you can ask. There are only so many tones in which you can ask those questions.

And only so many answers can be given. Many emotional jobs like private banking, psychological counseling, legal practice are the businesses that people choose. Autopilot can You should be able to ask, evaluate and provide appropriate and expected responses.

But if you do 1,000, there will be nothing new about it, it will be Autopilot. An AI is particularly good at repetitive things. So there’s nothing a good AI can’t do. No, an AI can never feel itself, but it can know how you feel and draw valid logical conclusions from it. It can make a person anxious and depressed. Fortunately, we can still call Clare.

Pioneers in Europe

As we invest in private equity funds professionally as a “fund of funds”, I would like to highlight several European companies that are pioneers in AI. Additionally, I want to give a concrete example of how AI can play more and more human.

That’s the first company we think of Swedish EQT We participate in many funds.

EQT Always a pioneer and innovator and has developed its own internal AI, named “Motherbrain”. This AI scours databases and the Internet for fast-growing companies. Are you posting a lot of new vacancies online and is your company being Googled? Motherbrain is aware of this and is informing the EQT Ventures investor group. It was a running joke within the company that Motherbrain would also have a seat on the investor committee. Now that possibility was not dismissed as a joke.

G Square, an investor in UIPath, originally a Romanian company. UIPath’s AI automates back-offices in organizations and, among other things, replaces manual entry of accounting data and other repetitive data entry processes performed by humans. UIPath is now listed on the Stock Exchange.

This piece was written without the help of AI.

Top Tier Access is a fund of funds targeting wealthy Belgians to invest together in large international private equity funds. This can reduce administrative costs. It now has funds in its portfolio from renowned names like BC Partners, EQT, CVC, HIG Capital and Apax Partners. Top Tier Access was founded in 2020 by Sam Decimbel (belonging to a well-known entrepreneurial family) and Joel Sandhu. It has already raised money twice: 40 and 100 million euros.