A Chatbot Just Did an Investment Banker’s Job

When CVC Capital Partners put Greek eCommerce platform Skroutz up for sale earlier this year, it skipped investment bankers and used artificial intelligence to run the process instead, The Wall Street Journal reported . CVC sent prospective buyers a link to a data portal that functioned as an investment memo and a chatbot answered questions on financials and due diligence; more complex issues were escalated to the management team for direct discussion. Blackstone agreed on May 11 to acquire a ma