AI comes for the software giants, and Australia is no safe haven
One venture capitalist warns there will be “roadkill”. Another says the market is “schizoid”. Artificial intelligence is making tech increasingly turbulent.
Venture capitalist Daniel Petre says some software companies will be AI ‘roadkill’, while Mike Cannon-Brookes must convince investors that Atlassian isn’t one of them. Bethany Rae
Daniel Petre has invested millions of dollars in software companies over the years. Now, with markets worried that rapid advances in artificial intelligence will all but wipe out their growth, the veteran venture capitalist is the first to warn that there will be plenty of casualties.
Or, as he describes it, “roadkill”. With every new announcement outlining new tasks that AI platforms can automate – the latest was Anthropic’s Claude, which can apparently replicate the work that specialist legal software does – technology stocks look deeper into the abyss.
Paul SmithTechnology editorPaul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
James ThomsonColumnistJames Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
Tess BennettTechnology reporterTess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Message Tess on Signal: @tessbennett.02. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.com
