Carlyle's Tech Chief Explains How AI Is Transforming Workflows and Saving Costs for the Investment Giant

Lucia Soares, Carlyle’s Chief Information Officer and Head of Technology Transformation, is spearheading the integration of artificial intelligence (AI) across the investment giant’s global operations. With 27 years of experience in technology, Soares emphasizes that the firm’s tech goals are not centered around AI itself but rather on leveraging it to achieve business objectives such as growth, efficiency, and a robust tech infrastructure. AI Rollout at Carlyle One of the primary focuses of Carlyle’s AI initiative is to enhance employee proficiency. From their first day, new hires undergo AI training and gain access to a suite of tools, including ChatGPT, Perplexity, and Copilot. An AI champions’ council has been established to encourage early adopters to explore these tools and share best practices. As a result, nearly 90% of Carlyle’s 2,300 employees now utilize AI in their daily tasks. Specifically, the firm has launched Project Catalyst, an AI-driven program that automates workflows, significantly reducing the time and effort required for tasks such as assessing potential investments. Credit investors, for instance, can evaluate a company within hours using generative AI, compared to the weeks previously spent on manual research. This automation has led to tangible cost savings, such as catching errors in legal invoices, which reduces external service expenses. Balancing Autonomy and Risk Soares acknowledges the importance of balancing the benefits of AI with the risks of over-reliance. While the firm encourages the use of AI to streamline processes, it maintains strict oversight to prevent any lapses in judgment. A human is always required to review and finalize AI-generated content, ensuring critical thinking and accountability. For example, when an employee uses AI to draft a report, they must summarize the AI output independently to verify its accuracy and relevance. Successes and Challenges One notable success story involves a team that automated the process of handling extensive due diligence documents, which often span 80 pages. Despite limited technical resources, the team innovated a solution that will be rolled out later this year, improving the efficiency of investor interactions. However, Carlyle has also faced significant challenges, particularly regarding regulatory restrictions on large language models. Navigating these complex regulations has slowed down deployment, proving that rapid AI adoption is not always feasible, especially in the current global regulatory landscape. Career Advice and Background A pivotal piece of career advice Soares received early on was to volunteer for challenging assignments. This approach has helped her build relationships, gain visibility, and continuously develop her skills. Her immigrant parents instilled in her a strong work ethic and courage, despite her father receiving minimal formal education due to financial constraints. Soares learned valuable lessons from her family’s side hustle of selling house plants at flea markets, where she developed a sense of entrepreneurship and practical problem-solving. Morning Routine and Key Meetings Soares leads a bicoastal life, dividing her time between Washington D.C., New York, and the West Coast. Her mornings vary based on location but typically include listening to news podcasts, exercising, and eating a healthy breakfast. At home, she starts early, often handling early calls before driving her daughter to school and setting her daily priorities. While scheduled meetings to drive strategy and brainstorm are crucial, Soares finds that the most valuable insights often come from spontaneous encounters. These impromptu conversations with colleagues can lead to innovative partnerships and practical applications of AI. By keeping strategy at the forefront of her agenda, Soares ensures that the firm’s technology transformation remains ambitious and forward-looking. Industry Insights Industry insiders see Carlyle’s AI playbook as a model for other investment firms. The combination of extensive training, practical application, and strategic oversight is viewed as a balanced approach to integrating AI. Carlyle’s strong emphasis on maintaining human oversight and accountability addresses common concerns about AI’s impact on decision-making and job security. The firm’s proactive stance on regulatory compliance further underscores its commitment to responsible AI adoption. Company Profile Carlyle Group is a global investment firm with a diverse portfolio of assets under management. Known for its disciplined approach to investment, Carlyle places a significant focus on leveraging technology to enhance operational efficiency and decision-making. Under Soares’s leadership, the firm is navigating the evolving landscape of AI with a strategic and principled approach, aiming to stay ahead of the curve in the competitive world of private equity.