Blackstone Warns AI Disruption: Businesses Must Adapt Now - BX

[Para 1: The Lead] Blackstone, the world's largest alternative asset manager, is prioritizing the risk of artificial intelligence (AI) disruption, according to its president and chief operating officer, Jon Gray. At the WSJ Invest Live event in West Palm Beach, Florida, on February 3, 2026, Gray emphasized that AI disruption is a top concern for the company, urging businesses to consider this factor in their operations. [Para 2-3: Supporting details & Context] Blackstone, managing $1.27 trillion in assets across various sectors globally, identifies some of its portfolio as less at risk, such as its investments in sandwich shops and apartment complexes. However, businesses like insurance firms, which have begun lowering rates for customers using self-driving cars, face significant challenges. Gray questions the implications for collision repair, auto insurance, and rules-based businesses, highlighting the need for strategic adaptation. Blackstone's investments in AI infrastructure, including data center operator QTS and power generation, reflect its focus on digital infrastructure. The company also invests in large-language-model companies and software firms applying AI technology, recognizing the potential for significant value but acknowledging the associated risks. Gray advises focusing on "picks and shovels," the infrastructure necessary for AI, to safely capitalize on the megatrend.