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‏"SaaSpocalypse".. Why has artificial intelligence shifted from being a "helping hand" to a "nightmare" for software companies?

The term SaaSpocalypse recently emerged in the world of technology and investment. It is composed of two parts: SaaS, which stands for Software as a Service—cloud-based programs like productivity, communication, and design tools—and Apocalypse, meaning the end or a major catastrophe. The term is used to express concerns that AI could fundamentally change the future of software companies.

Why did the term SaaSpocalypse appear?
In recent years, companies and individuals have relied on numerous applications to accomplish their daily tasks; there was a writing program, another for design, and a third for project management or customer service. But with rapid advancements in AI technology, tools capable of performing multiple tasks simultaneously have begun to emerge, potentially reducing the need for many traditional programs.

For this reason, experts talk about the possibility of significant changes in the software market in the coming years. Instead of relying on dozens of different applications, users may turn to comprehensive AI platforms that offer most services in one place. This shift could impact how software companies operate and force them to develop their services to keep up with these new changes.

Why has the term become concerning for Wall Street?
Since the emergence of ChatGPT about three years ago, analysts have warned that AI will not only change jobs but will reshape entire business models. However, markets did not fully grasp these warnings until the shock on February 3rd and 4th, when markets experienced one of the largest sell-offs in the software sector.

In just two days, the Nasdaq 100 index recorded its worst performance since October, while software company stocks lost nearly one trillion dollars in market value, prompting investors to describe what happened with a dramatic term: SaaSpocalypse, or "the end of the Software as a Service era."

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