Beyond Automation: How AI Is Transforming the M&A Process

Rethinking the M&A process with AI

Artificial intelligence is changing how M&A professionals source opportunities, conduct due diligence, and execute transactions. But as adoption accelerates, the focus is shifting from individual productivity gains to fundamentally rethinking how deal teams operate.

At NextGen M&A Chicago 2026, held on October 20, Henry Lindemann, Head of Strategic Initiatives and Partnerships for Grata Intelligence, joined industry leaders for a panel on The Role of Technology in Due Diligence and the M&A Process.

Moderated by Rob Cant, Co-Founder & CEO of NextGen M&A, the discussion brought together industry leaders, including:

• Henry Lindemann, Head of Strategic Initiatives and Partnerships, Grata Intelligence
• Alistair Wye, Director of Innovation & AI, White & Case
• Maroje Guertl, Partner, Altius Reach

The discussion explored how AI is transforming transaction workflows, improving investment strategies, and redefining the relationship between technology and human expertise.

Beyond efficiency: Redesigning deal workflows

While AI is already helping dealmakers summarize documents, analyze information, and automate repetitive tasks, its greatest potential extends beyond incremental efficiency improvements.

A central theme of the discussion was the opportunity to redesign M&A workflows around AI capabilities rather than simply applying new tools to existing processes.

This could include continuously analyzing information, comparing findings against historical transactions, and delivering insights earlier in the deal lifecycle. However, realizing these benefits requires organizations to address confidentiality, regulatory requirements, and the infrastructure needed to manage sensitive transaction information securely.

Accelerating deal sourcing and investment decisions

For private equity firms, AI adoption is increasingly tied to measurable business objectives, including faster deal execution and improved proprietary sourcing.

Lindemann emphasized the importance of aligning AI investments with specific strategic goals, such as increasing transaction capacity, identifying opportunities earlier, or shortening fund deployment timelines.

For example, technology could help firms increase proprietary deal sourcing from approximately 20–30% to 40–50%, enabling investment teams to connect with business owners before they enter a formal sale process.

AI can also help teams evaluate opportunities more efficiently, allowing them to reach investment decisions sooner and focus resources on the most promising transactions. Ultimately, the value of AI lies not simply in doing more work faster, but in improving investment outcomes.

Balancing automation with human judgment

As AI capabilities become more accessible, expectations for legal advisors and other M&A professionals are evolving.

Technology is moving beyond basic document extraction toward helping professionals identify risks, develop recommendations, and connect diligence findings directly to transaction decisions.

While these advancements can reduce time spent on repetitive tasks, human verification remains essential, particularly when evaluating complex contractual issues and transaction risks.The discussion also highlighted the growing importance of measuring AI's true return on investment. Lindemann emphasized that firms must assess whether AI-generated outputs are accurate, useful, and delivering measurable value, especially as usage expands and technology costs evolve.

Successful adoption will require balancing efficiency with reliability, security, and appropriate human oversight.

The next generation of deal teams

Looking ahead, AI agents could become an increasingly integrated part of M&A teams.

Lindemann described a future in which professionals oversee specialized AI agents supporting activities such as contract review, tax analysis, and due diligence.

Rather than replacing human expertise, these agents would work alongside professionals who supervise outputs, evaluate findings, and apply judgment to transaction decisions.

This evolution will also require new skills. Deal professionals will need to become effective delegators, while organizations must capture the institutional knowledge that guides how and why decisions are made.

Lindemann reinforced the importance of dedicating resources to AI implementation and knowledge management rather than treating these initiatives as secondary responsibilities.

Organizations that successfully combine AI capabilities with their own expertise and processes may be better positioned to differentiate themselves in an increasingly technology-driven market.

What’s next?

The discussion at NextGen M&A Chicago reinforced that AI's greatest impact will come from how effectively firms integrate technology into their broader deal strategies.

From improving proprietary sourcing and accelerating diligence to enabling more informed decisions, AI presents opportunities to transform the M&A lifecycle.

As adoption continues, firms that prioritize measurable outcomes, preserve institutional knowledge, and balance automation with human expertise will be best positioned to capture a competitive advantage.

Learn how Datasite can help transform your next deal.