Proving the Value of Generative AI: THL's Successful Pilot with Coding Assistants

Originally published by THL on June 20, 2024.

Private equity firm THL reported productivity increases of 10 to 30 percent after implementing GitHub Copilot and similar coding assistants across a dozen portfolio companies during a four-week pilot program that began in December 2023. The pilot included software companies in technology, healthcare, and financial services, with participating engineering teams using the tools to automate repetitive coding tasks, identify bugs, and accelerate development cycles.

Carpe Data was among the participating portfolio companies. According to Victor Moreira, CTO at Carpe Data, "Having a coding assistant is like using a power tool to help with tedious manual work. Our developers have really embraced the tool, recognizing it as a powerful partner that enhances their efficiency and lets them focus on more complex and innovative projects."

THL tracked outcomes across code testing, code creation, and education categories, with individual task productivity improvements ranging from 10 to 83 percent depending on complexity. As of May 2024, overall adoption reached 44 percent across 11 companies, representing 507 users from an eligible pool of 1, 147 developers. THL's Strategic Resource Group emphasized that the tools were designed to support existing teams rather than reduce headcount, positioning the assistants as roadmap accelerants that free developers for higher-value work.

The firm plans to expand coding assistant rollout to additional portfolio companies based on the pilot's success. THL continues to encourage partners to explore ways to capture value from future iterations of AI-driven development tools.

Read the full article at THL.