Mistral AI CEO predicts that AI will “kill” over 50% of corporate software
The comments come as SaaS stocks have tumbled as investors increasingly fear that new AI tools will make traditional business models obsolete.
The comments come as SaaS stocks have tumbled as investors increasingly fear that new AI tools will make traditional business models obsolete.
The CEO of European AI startup Mistral AI, Arthur Mensch, made a bold statement that could add to the stock market jitters. In an interview with CNBC, he predicted that artificial intelligence will replace more than half of the software used by large enterprises today.
According to Mensch, AI allows software development to be done “at the speed of light.” This means that companies no longer need to buy expensive specialized solutions (so-called vertical SaaS) to manage individual processes.
“We see this with our customers… In a few days, we can create fully customized applications for managing workflows, procurement, or supply chains. Five years ago, you would have had to buy a separate vertical SaaS product for this,” Mensch explained.
Mistral AI CEO notes that businesses have begun a massive transition to new platforms (“replatforming”). Companies are trying to get rid of outdated IT systems purchased 10–20 years ago that have become too expensive to maintain and are seeking to replace them with more efficient AI-based solutions.
However, Artur Mensh clarified that the threat does not apply to all software. Accounting and data storage systems will remain the foundation on which AI will operate.
It was previously reported that the fortune of 33-year-old Arthur Mensch is $1.1 billion, and the value of the company itself is estimated at $13.7 billion.
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