Dario Amodei from Anthropic is saying out loud what the SaaS market has been fearing for months: if software companies don’t adapt to AI, their “moat” could disappear and some may even end up bankrupt. At the same time, he adds that AI won’t kill software — it will more likely make it cheaper and force incumbents to change quickly, so those who integrate AI aggressively will survive, not those who try to protect the old model merely by product complexity.

You can already feel it in the market: ServiceNow, Snowflake and Thomson Reuters have been under pressure this year, and the whole SaaS segment has been nicknamed the “SaaSpocalypse,” because investors are overestimating what AI can do to software. Amodei’s point is simple: the moat won’t be “our application is complex” anymore, but “our application is the fastest to adopt AI and the most embedded in workflows.”