Generative AI is transforming the private equity industry by improving the efficiency of data analysis and investment decision-making. It makes it possible to generate content, predictive models, and automate processes, offering a lever for financial innovation. This technology is revolutionizing opportunity sourcing, automated due diligence, and investor relationship management. However, it presents technical, operational, ethical, and regulatory challenges that require increased transparency and strategic adoption. To maximize its benefits, private equity funds need to develop AI skills, a robust data strategy, and a culture of innovation, while remaining compliant with regulations.