1 of 1
Story summary
- In February 2026, Eoghan McCabe, CEO of Intercom, warned the November 2022 launch of ChatGPT could trigger a crisis for customer service software.
- This has pushed many firms to rebrand as AI companies to avoid obsolescence.
- The software sector lost $2 trillion in market capitalization over the past year ending February 2026, the largest decline in 30 years.
- Salesforce and ServiceNow saw their shares decline by more than 40%.
