Mistral CEO warns: Over 50% of enterprise software could be replaced by AI
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Glonghui, February 18|Arthur Mensch, CEO of French artificial intelligence (AI) startup Mistral, stated on Wednesday (February 18, local time) that more than 50% of the software currently used by enterprises could be replaced by AI. Mensch said during a break at the India AI Summit: “I believe that more than half of the SaaS software currently purchased by IT departments will shift to AI.” “AI is enabling us to develop software at lightning speed.” Investor optimism about the AI boom has fueled a bull market in the U.S. stock market over the past three years, but recently the market tone has shifted to concerns over AI’s disruptive potential. In January this year, AI star company Anthropic launched the AI collaboration tool Claude Cowork, triggering a sell-off in software stocks. The iShares Expanded Tech-Software Sector ETF (whose major holdings include companies such as Microsoft and Salesforce) has fallen by more than 20% so far this year.
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