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AI upheaval puts software investors on edge
Markets weigh whether incumbents will adapt – or be sidelined by artificial intelligence agents.
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A big question for investors is whether AI will give rise to platforms that favour a new generation of players like Anthropic and OpenAI at the expense of established software companies.
PHOTO: REUTERS
Richard Waters
Mr Bill McDermott, chief executive of ServiceNow, used an earnings call with Wall Street in January to mount a spirited defence against “speculation that AI will eat software companies”.
After a US$100 billion (S$126.8 billion) slide in his company’s market value over the previous year, analysts applauded him for directly addressing the biggest fear stalking his industry. Not that it did any good: ServiceNow’s shares have since fallen a further 22 per cent.
