The dawn of a new era for software

The software industry has witnessed explosive growth over the past several years, driven in large part by the disruptive potential of generative AI. Many believe it marks the start of the next super cycle, with the CAGR for enterprise spend on generative AI expected to be 140% over the next three years, compared to the 7% CAGR the software market has seen over the last eight years.

All this spending on AI is coming from both new and reallocated budgets–37% of companies say they are allocating net new budget for generative AI; 60% say it will be coming from decreasing or cancelling other things within their existing IT budget; while 27% say it will come from decreasing or cancelling other non-IT budget items.i This ebook explores how software and technology companies can capture this opportunity.