SaaSBoomi Annual ‘24 centered its theme on a recent topic dominating conversations in the SaaS ecosystem- GenAI.
A joint study conducted by McKinsey in partnership with SaaSBoomi had some eye-opening insights about the shift from SaaS to AI.SaaS and what the road ahead looks like. It outlined what the AI.SaaS landscape is shaping up to be – from the emerging trends, opportunities, and how to approach building a scalable AI-first business.
The study estimated that enterprise spending on GenAI is likely to hit $150-200 billion by 2027. Of this, $100-120 billion would be driven by reimagined workflows and about $60-70 billion by net new offerings.
While AI will disrupt existing SaaS businesses, it is also expected to open up new opportunities and use cases, further unlocking the tremendous potential for SaaS firms building with AI. The McKinsey-SaaSBoomi study also highlights several new AI-first use cases like drug discovery, agents, co-pilots, and vertical LLMs.
The study rightly acknowledges that “Productivity is only the tip of the AI iceberg” and that going beyond just delivering superior productivity to users could unlock 2x the value. The real power of this technology lies in ideation and prototype creation. Read the report for more.
