RBC：2025年人工智能并非软件的终结报告（英文版）

Our view: In this note, we outline our thoughts addressing key questions and themes within the broad debate around whether AI will lead to the death of software. We take a nuanced approach, addressing: 1) changing definitions of software; 2) the shift to multi-agentic systems; 3) incumbents' data advantage; 4) disintermediation risk from AI; 5) AI lowering barriers to entry; 6) AI M&A; 7) AI monetization timelines; 8) AI transitions; and 9) crossing tech chasm in a post-AI world. We b