Lauren Webster

Absolutely.

So I think where we are is in sort of this phase of forming, storming, norming in the market and the give and take between AI innovation and software stocks.

And so you're seeing a lot of volatility happening.

Disruption each time there is a new product released from an AI innovator.

Yet this broader realization that enterprise software is here for good.

You can't rip it out tomorrow.

And this is a longer term trend as we figure out how to embed AI into enterprise solutions.

What is actually going to be disrupted?

Certainly.

With that said, though, if I was running a business in the software sector today, I would be taking a hard look, spending time with customers, understanding how they're using AI in place of the products that I offer, where I should be embedding it, and certainly planning for the next decadal transition

towards more AI infrastructure tooling.

But yes, as I said, nothing is getting ripped out tomorrow and this is a much longer transition period.

And the good news in that is that it gives software companies time to catch up, figure out how they can play this opportunity.

Yeah, certainly looking at those that have been disrupted most by recent product launches from whether it be Anthropic or others.

Workflow tooling is a place at risk.

Certainly there are elements within the legal sector that some of the newer announcements are starting to displace.

There are, however, bright spots.

Like cybersecurity is one where I spend a lot of time

And certainly you need cybersecurity capabilities to even implement some of that AI enterprise infrastructure.

So there will be pockets of opportunity in the software sector and then certainly in the picks and shovels around AI infrastructure.