The Tech Download: Software was going to eat the world. Now it’s facing an 'existential' crisis
Major software-as-a-service (SaaS) stocks are experiencing significant selloffs as investors fear AI will disrupt the traditional software licensing business model by automating tasks currently performed by SaaS tools. Companies like Salesforce, ServiceNow, Adobe, and Intuit have dropped 21-37% this year amid concerns that corporations will purchase fewer software licenses. Industry experts warn that the current software model faces an "existential" crisis and companies will need to fundamentally adapt to survive.
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