Extinction is the wrong lens. Evolution is the right one.In August 2025, enterprise software had one of its worst weeks on the market in years.CNN chronicled the slide in software shares and blamed AI, worrying that as models get better at building and doing, demand for conventional software erodes. Two days later, The Wall Street Journal told everyone to breathe, arguing that AI doing more each year is a long way from killing a $1.2 trillion industry.The battle was set, with two sides trying to predict what’s coming. Many saw AI as an extinction event for software, while others saw it as just one more wave the industry would absorb.By early 2026, the selling had snowballed into a sector-wide rout that traders nicknamed the SaaSpocalypse. So the question is fair to ask: if AI is getting “sprinkled” into every product we know, will it kill software?It’s tempting to think AI replaces...