Historically, SaaS applications have served to store and report on data. The next generation of intelligent business applications will move beyond merely organizing the work product to actually automating the work. The scale of the opportunity for companies building in this space is in the trillions of dollars currently spent on labor to complete the mundane and repetitive tasks able to be completed by AI, or “mechanical turk work.”
We believe that this shift is so substantial that in many cases incumbents will be unable to adapt their legacy applications, leaving significant room for new entrants. We see potential across a range of industries, functions, and business models to capitalize on these opportunities.
Industries and functions we frequently return to include sales, medicine, law, finance, insurance, customer service, and various areas of work traditionally addressed by BPO firms. We see potential across various business models, from playing the role of an AI-enabled agency, to serving as a system of intelligence sitting on top of various long-standing systems of record, or even building a new system of record category through a new AI-enabled wedge product.