Ara Kharazian

So again, not a product offered directly by the model companies and arguably the model companies could never offer that product because Anthropic can offer it for Anthropic, but they wouldn't be able to offer it across all of the different models in any effective way.

I mean, it

arguably something that should happen externally by some other vendor.

And so there's a lot of growth in this sector that people just ignore or it doesn't make the discourse because it's not about the jockeying between two large players.

But it certainly counters Sasspocalypse in my mind.

Well, it depends where you draw the line on what is AI, right?

Like software that uses AI features to improve an existing legacy software product.

Sure, we can call that AI native, AI driven, but that's a different narrative from SaaSpocalypse, right?

Like, Adio is this extremely fast-growing London-based CRM.

It's like a couple single digits of market share, but it's growing really quickly.

Salesforce is 80% of the market, you know, so it's not something that's going to be unseated very quickly.

But Adio is like the AI-native alternative.

And, you know, I think it would be a mistake to discount the growth of these kinds of firms just because they have AI features and say that, oh, it's entirely because of, it's entirely tied up to the performance of the model companies.

These are very different, unique products that model companies can't really compete on or haven't yet.

And so AI is going to touch a lot of these developments that are happening, but it's also going to grow a market outside of the explicit model company's business segment.

I wonder the integrations that Anthropic recently announced.

Okay, you can access Morningstar via Anthropic.

You can access and you can access Anthropic via Morningstar.

Same with Verisk for an insurance sector or the London Stock Exchange, Refinitiv.

Is that good for the software companies?