Investors Fire. Owners Hire.
By Chris Gale
The conversation around artificial intelligence has been dominated by a familiar image, a boardroom, a new AI initiative and a round of layoffs. Month after month brings another headline about workforce reductions at a large technology company or consultancy. The conclusion is usually presented as self-evident. AI is here, people are being replaced and companies are learning to produce more with fewer employees.
That interpretation captures part of what is happening - maybe... that’s a really big maybe - but it misses a larger shift that is unfolding. AI can automate tasks, compress workflows and reduce the labor required for a given amount of work. Yet the outcome at the company level depends on decisions that sit outside the technology itself, including who owns the business and how leadership defines growth.
Fund administration offers a useful test. The industry is built around reporting, reconciliations, investor communications, compliance,...
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