Summary
Foundation Capital has been investing in the intelligent automation space for more than a decade. Our confidence in newer companies like Eightfold, Tonkean, Turing, and Ikigai comes after years studying the evolution of such ventures. We believe software will continue to boost productivity and also take a bite out of the services market.
The Service-as-Software model is expected to revolutionize the way businesses operate. The potential for AI to automate both full-time positions and services is enormous. Gartner says AI- and generative AI-enabled technologies are projected to inject $28 billion into the business process services market in the next four years.
The arrival of AI-powered solutions and their push into services does not always spell the end for the SaaS model. The arrival of the AI- powered company may challenge or displace a Saas incumbent, or it may offer a complementary business that can work alongside it.
