Blackstone, the world’s largest alternative asset manager, is focused on the impact of artificial intelligence on businesses. President Jon Gray emphasized the importance of considering AI in all operations. Blackstone manages $1.27 trillion in assets across various sectors, with some businesses less at risk than others, like sandwich shops and apartment complexes.

Gray highlighted the serious questions facing businesses, such as an insurance firm lowering rates for customers using self-driving cars. Blackstone, along with other firms, has heavily invested in AI infrastructure, including data centers and power generation. Gray advised focusing on “picks and shovels” to play the AI trend safely, emphasizing the need for digital infrastructure.

In addition to infrastructure investments, Blackstone is also investing in large-language-model companies and other software firms applying AI technology. Gray sees significant value in these investments, though they are riskier. The company is preparing for the AI megatrend by diversifying its portfolio and staying ahead in the rapidly evolving tech landscape.

Read more at Yahoo Finance: Blackstone’s Gray says AI disruption risk is ‘top of the page’ for us