UPDATES

AI in M&A

In September, the Corporate Finance Faculty held a webinar on the use of AI in an M&A process. This, the first of two AI webinars, focused on the use of off-the-shelf AI tools.

After an introduction by ICAEW head of corporate finance David Petrie, Graham Dotchin, corporate finance partner and head of data analytics and AI at Azets, gave a presentation on how off-the-shelf tools assist M&A processes. He began with an overview of the three biggest AI off-the-shelf tools: ChatGPT (OpenAI), Gemini (Google) and Grok (X).

Although AI will definitely change the skill sets in M&A teams, Dotchin warned: “Some of the side effects of an over-reliance on AI have been cited as detrimental to critical thinking, problem solving and deterioration of memory – all vital skills for what we do in corporate finance. I would urge everyone to focus on skill development rather than becoming reliant on AI.”

In a live poll of online attendees, 77% said they wished to use AI more on due diligence. The identification and screening of buyers and sellers was also viewed as an area where AI could be put to good use.

Next year, Corporate Financier will take an in-depth look at the use of AI in M&A. 

• View webinar

UPDATES

Innovation in Liverpool

ICAEW head of corporate finance David Petrie took part in the Liverpool City Region’s fourth Innovation and Investment Summit last month. For the fireside chat element of the summit, he interviewed Antonia Jenkinson, CFO and COO at the Advanced Research & Invention Agency (ARIA).

ARIA is an independent agency, funded through the Department for Science, Innovation & Technology, that backs speculative R&D into areas that will benefit wider society.

Liverpool City Region Mayor Steve Rotheram opened the summit, which featured representatives from LYVA Labs, the BVCA, Innovate UK, AxialBridge and the region’s universities. Representatives from UK Research & Innovation, the British Business Bank, the High Commission of Canada and RTC North also attended.

CONSULTATIONS

National Security and Investment Act

Katerina Joannou (pictured), ICAEW capital markets senior manager, last month submitted the Corporate Finance Faculty’s response to the UK government’s consultation on the National Security and Investment (NSI) Act.

Whilst welcoming the review, the faculty suggested it was a “missed opportunity to improve agility in the system ... and simultaneously respond to operational challenges in the functioning of the NSI system”.

The response also questioned the assumption that “the size of a business indicates the complexity or the cost of engagement with the NSI process”.

It added that the NSI process has “an impact on transaction timetables and businesses incur time and cost. The government could consider if any information requirements could be streamlined for repeat acquirers to reduce the burden.”

FUTURE EVENTS

Dates for the diary

November 13

The Corporate Finance Faculty’s Annual Reception will be held at Goldsmiths’ Hall on 13 November.

This year’s special guest speaker will be Jon Moulton CBE, chair of Better Capital fund vehicles. ICAEW CEO Alan Vallance and ICAEW head of corporate finance David Petrie will also speak at the event, which starts at 6.30pm.

• Book a place

December 10

The launch of the Corporate Finance Faculty’s HR Due Diligence guideline, authored by Deloitte, will be held in the Great Hall at Chartered Accountants’ Hall on 10 December. Nicole Jones, head of talent at Advent, plus Deloitte’s Gurm Dhillon, UK M&A leader, Louise Hunter, head of HR due diligence, and Harriet Innes, private equity M&A specialist, plus Andrew Howard, the firm’s employment lawyer, will take part.

• Book now