Davis Polk partner and Northern California co-head Alan Denenberg discussed generative AI and whether it could be used to draft IPO prospectuses for companies going public with The Information.  

“AI can certainly provide a good starting point but not much beyond that,” Alan said, adding that he doesn’t feel like “it is ready for prime time.”

Alan went on to explain that detailed, personal touches are needed when crafting an IPO prospectus. “Maybe I am a bit old fashioned, but I feel like a prospectus is a place where a management team can lay out a personal, nuanced version of its strengths, strategy and vision – rather than an AI version created from competitors’ disclosures,” he said.

“The Fine Print on Goldman CEO’s AI Hype,” The Information (January 21, 2025) (subscription required) 

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