The Cornerstone LPA template does not currently address handling AI-driven investment decisions.
While regulatory frameworks might change in coming years to possibly account for such situations, at this time it does not seem conceivable that a fund manager can escape ultimate responsibility for sub-optimal investment decisions by saying "your honor, it was the AI, not me". It also seems doubtful that limited partners, at least for now, would not try to hold the fund manager responsible anyways.
While regulatory frameworks might change in coming years to possibly account for such situations, at this time it does not seem conceivable that a fund manager can escape ultimate responsibility for sub-optimal investment decisions by saying "your honor, it was the AI, not me". It also seems doubtful that limited partners, at least for now, would not try to hold the fund manager responsible anyways.