A software CEO explains why he's not worried about the AI apocalypse coming for his industry

In an era where many fear the looming threat of AI to the software industry, one CEO stands firm in his optimism. Jason Kurtz, the head of Basware—a company specializing in financial software solutions—expresses a contrasting viewpoint to the prevailing narrative. "There is not a single piece of data that supports the notion that software companies are struggling due to AI," Kurtz asserts. Remarkably, he has yet to encounter a customer who plans to abandon traditional software in favor of an AI-only approach. Despite some chatter among clients about exploring AI independently, Kurtz emphasizes a prevailing desire for tangible results over experimentation. He recounts a conversation with a European digital transformation officer who, after investing approximately one million euros in AI projects, lamented a lack of measurable benefits. The executive's message was clear: "I'm tired of experimenting. I want experts who can integrate AI effectively into our workflows." Basware, which boasts a diverse clientele including industry giants like Mercedes and Heineken, has not only embraced AI within its offerings but has also experienced significant growth, reporting a 20% increase in sales year-on-year. Kurtz attributes this success to a strategic partnership with AWS and a dedicated 'AI czar' to monitor industry trends. He advocates for software companies to focus on enhancing their products with AI capabilities that deliver real value to clients. Additionally, forming strong partnerships with other vendors can ensure seamless integration into existing workflows—a strategy Kurtz believes is essential for survival in this evolving landscape. "If we weren’t collaborating closely, I’d be even more concerned," he admits. With Basware having processed 2.5 billion invoices and 10 trillion euros in transactions over its 40-year history, Kurtz stresses the importance of a robust data strategy to leverage AI effectively, advising companies to differentiate their offerings through informed data use.