Salesforce revealed next battleground in AI. It’s not models

Analysts and pundits in finance have an endless supply of clever, simplistic explanations for complex market movements. Over the years, culprits have ranged from El Niño and climate change to the World Trade Organization, rock ‘n’ roll music and the fluoridation of water. Many of these explanations proved wrong, yet commentators continue to reach for overly simple narratives to explain market moves. The latest example is the sell-off in software stocks. For the past year, markets have vaporized roughly $2 trillion in software value by asking the wrong question about AI. The question behind the so-called “SaaSpocalypse” — can an…