In this episode, we're joined by William Harris, founder of Acceler-Alt and former Chief Digital Officer of IQ-EQ Investor Services. William explores the landscape of generative AI and how mid-market private equity companies can harness its potential to drive productivity, innovation, and revenue growth. Dive into the nuances of AI adoption, risk management, and strategic implementation to elevate your business performance.

Kieran Gilmurray:

Welcome to DRUID Talks. Today’s episode: How to be a Generative AI Taker, Maker, and Shaper. 

80% of companies are investing in Generative AI or considering it. Why? Because productivity, quality, innovation, and revenue growth opportunities are immense. Today, we have Wil Harris of Accelerate. 

Wil is the former Chief Digital Officer of IQ-EQ Investor Services, and his Accelerate business supports mid-market private equity companies in adopting AI across their portfolios. 

Wil, welcome to DRUID Talks. Would you mind telling the audience a little bit more about yourself, if they don’t already know who you are?

Wil Harris:

Thanks, Kieran. Great to be here. Always good to have a chat. 

Hello to everyone watching! As Kieran said, I recently founded an organization called Accelerate after a long career in consulting, specifically around advanced technology. 

As Kieran mentioned, I worked for a large investor services organization. I work closely with private equity firms to help them adopt artificial intelligence, Generative AI, and advanced data practices to grow revenues in their portfolio companies, control costs, and ultimately stretch EBITDA and enterprise valuation. We’ve only been going a few months but are gaining great traction and I’m thoroughly enjoying it. AI is the flavour of the month now. It’s nice, after 10-15 years, to be the popular one rather than the geek working behind the scenes.

Kieran Gilmurray:

Yeah, welcome AI, the 80-year-old overnight success story!

So, why are companies investing in AI?

Wil Harris:

Great question. The two obvious reasons are productivity and growth. When we talk to CFOs or operations leaders, it’s about how to help staff do more. In private equity, it’s not about reducing headcount in call centres, but about growing an asset faster than the staff base grows, since staff is usually the largest cost. Investing in AI helps increase EBITDAR and enterprise valuation. We’re also seeing people use AI to transform their services, to supercharge revenue generation while controlling costs. Another emerging theme is risk: companies ask, “What risks does AI pose to my organization and services? How do I protect or adapt to stay competitive in an AI-enabled world?”

Kieran Gilmurray:

How do organizations invest in AI to boost performance without risking large amounts of cash?

Wil Harris:

There are many free tools out there. Around 18 months ago, everyone jumped on the bandwagon just to experiment. Now people are more cautious, especially about data privacy, compliance, and business risk. That caution is good because it leads to more deliberate adoption. Most organizations will eventually spend money to invest properly. 

There are popular tools like ChatGPT and many Generative AI platforms. DRUID, for example, offers a community version to test. But for live deployment, expert help is critical whether from firms like mine, large consultancies, fractional leadership, or building internal teams. 

To limit risk, I recommend engaging experts who can identify quick wins that get board buy-in and help devise an AI strategy. That strategy should not focus only on using AI for AI’s sake but understand the threats and opportunities AI presents. 

AI isn’t a single defined thing; it includes Generative AI, machine learning, decisioning, and more. It’s important to take a broad view rather than just jump on ChatGPT.

Kieran Gilmurray:

How do private equity companies use AI to develop their portfolio companies?

Wil Harris:

There are three or four main ways. 

First, controlling costs: growing company output without proportionally increasing staff. 

Second, increasing revenue: whether selling physical goods or services, or generating new products using AI. 

Third, mid-market firms are increasingly adopting portfolio-level strategies. Instead of tackling each portfolio company separately, they work with partners or hire specialists who develop scalable AI strategies that can be deployed across multiple assets, achieving economies of scale. This shifts focus from individual ROI to portfolio-wide value creation. Small investments under $1–2 million can generate tens or hundreds of millions in enterprise valuation when scaled. It’s vital to have a strategy aligned with the primary goal: delivering return on investment.

Kieran Gilmurray:

You mentioned IP and data risks.

How do companies avoid legal issues when AI-generated outputs may include others’ IP?

Wil Harris:

Great question. There’s growing legislative protection for original content creators, but also debate about where AI crosses from inspiration to copying. Organizations must stay aware of pending regulations and maintain a sensible, ethical approach. For example, the US requires providers to declare new large language models under laws originally designed for weapon manufacturing. The upcoming EU AI Act, effective January next year, will significantly change the landscape. It’s critical to engage AI legal experts to navigate risks. 

For example, facial recognition apps must anticipate bans or restrictions and adjust business models accordingly. Google recently paid a €250 million fine in France over IP issues. Laws differ by jurisdiction, so global companies must understand local regulations where AI is used, deployed, and processed to manage responsibilities.

Kieran Gilmurray:

What’s your vision for a world responsibly infused with AI?

Wil Harris:

I think we already live in that world. My 8-year-old son has never known a world without Alexa. He once asked Alexa to play music in the car (which has no Alexa) and surprisingly, the car responded anyway. The next generations will never know a world without AI. It’s everywhere, social media ads, smart home devices, healthcare, insurance quotes, all driven by machine decisioning. 

I expect accelerated adoption with occasional leaps, like NeuroLink implants for mind-machine communication, within five years. But mostly, we’ll see steady progress toward smarter homes, self-driving cars, and easier human-machine interaction. It won’t be a sudden “I, Robot” scenario.

Kieran Gilmurray:

That’s interesting because many think AI suddenly appeared due to Generative AI hype. It’s good if that raises awareness, but we must also discuss risks, like today. What final advice do you have for companies, boards, C-suite executives, and private equity groups just starting the AI journey?

Wil Harris:

Don’t panic about being behind. Unless you were first off the line, others are ahead and others behind. Avoid being like Kodak, which ignored digital cameras and got disrupted. Instead, focus on your core mission: why does your organization exist? From there, identify where AI can help you better deliver that mission and where it introduces risks. Start with low-hanging fruit, experiment (even with synthetic IP to avoid data leakage), and develop a clear AI strategy. Very few companies should have a strategy of “don’t touch AI.” With the IMF estimating 60% of jobs affected by AI, everyone needs to understand their opportunities, risks, and planned actions to thrive in five years.

Kieran Gilmurray:

A lot to consider, but a worthwhile journey. As you said earlier, companies don’t have to build the next OpenAI or Azure. Many technologies, like DRUID and Amazon Bedrock, are available now to leverage for productivity, revenue, and ideas. I loved your point on private equity: aligning strategy with technology and talent can create massive value across portfolios. Thank you so much for this insightful DRUID Talks episode. We wish you and Accelerate every success. Thank you to everyone watching. Until next time, see you soon.

Wil Harris:

Thanks very much.

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