Now, Wall Street, bless its heart, has been in a bit of a dither lately, and the software crowd along with it. The iShares Expanded Tech-Software Sector ETF (IGV +1.63%) has taken a tumble, more than a fifth of its value gone since the new year commenced. Seems folks are gettin’ skittish, lowerin’ their expectations for these companies, fearin’ these new “artificial intelligences” will build better software quicker and cheaper. It’s a right proper panic, fueled by these mechanical marvels, and a dash of human nature, of course.
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It’s easy to see why folks are worried, seein’ these machines doin’ things humans used to do. But Huang argues that these agentic AIs won’t replace the software, they’ll use it. They’ll be like a skilled assistant, doin’ the grunt work so humans can focus on the important stuff.
He says these software companies will build agents that run on their platforms. These agents need to be experts, and nobody knows customer service better than ServiceNow, so they’ll build agents that are finely tuned for the job.
He likens it to robots in the home. If you had a robot to heat up your dinner, it wouldn’t try to build a new microwave, would it? It’d just use the one you already have. A sensible notion, I reckon. He expects these AI tools will help humans be more productive. If software engineers don’t have to spend all day writin’ code, but can tell an agent what they want, they’ll get their work done a whole lot faster.
A Logical Argument?
Now, Huang’s argument that AI will be an assistant, not a replacement, rings true to my ears. Think about the internet. It let folks do things remotely, savin’ them time and travel. It also created a whole heap of new jobs and companies. But it also disrupted a good many things, and left a few folks by the wayside.
The question is, where will these new jobs come from? If AI can write computer code on command, we might need fewer software engineers. It’s a worry, I tell you. Citadel Securities’ Frank Flight says job postings for engineers are up, and new businesses are formin’. But will that be enough to offset the job losses from automation? I haven’t heard any expert give a straight answer to that question. They just say there’ll be new opportunities, and that humans won’t innovate themselves out of a job. Sounds like wishful thinkin’ to me.
Until we have some clear answers, folks will remain worried, and software stocks will likely stay under pressure if investors think these AI machines are destroyin’ the companies’ advantages. It’s a right proper conundrum, this technology. A marvel, yes, but one that demands a good dose of caution and a healthy skepticism. The market, bless its heart, often forgets that. It’s always chasin’ the shiny new thing, and rarely considerin’ the long-term consequences. A lesson it seems destined to learn again and again.
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2026-03-04 17:22