President of @Blackstone Jon Gray says LLM spend among the company's portcos is up 15-fold in Q1 of this year over last year. At the same time, the pace of implementation is frustratingly slow, so it still feels like we're in the very early days of the AI cycle: "It's sort of the beaker-to-bedside problem in clinical trials — 'We've got this great medicine. How do we get it to the patient?'" "That is the challenge. But we are definitely finding more and more use cases." "At our companies,…