AI Agents: Businesses Scramble as Chatbots Vie for Dominance

The tech world is bracing for a shift. The era of simply querying AI chatbots for information is giving way to the rise of “AI agents” – software assistants capable of independently completing tasks, from writing code to handling tax advice. This transition is already sending ripples through financial markets and prompting businesses to reassess their strategies, as the potential for disruption reaches an unprecedented scale.

For nearly two decades, Google has defined internet search. But that paradigm is changing. Instead of providing lists of links, AI agents promise to *do* things for users, automating processes previously handled by human workers or expensive consultants. This move beyond simple responses marks what Futurum chief strategist Shay Boloor calls an “inflection point,” predicting millions of AI agents will soon be routinely handling tasks currently performed by people. “We’ve never had a tech disruption at this scale before,” Boloor told AFP. “It’s extreme. The market is underwriting that future uncertainty in a doom-based scenario.”

The shift is being driven by rapid advancements in AI models from companies like OpenAI, Anthropic, and Google. Anthropic’s Claude is currently vying for dominance in the professional AI space, competing with OpenAI’s ChatGPT and Google’s Gemini. Notably, the November 2026 debut of OpenClaw, an autonomous AI agent likened to the fictional “Jarvis” from the Iron Man films, signaled a significant leap forward. OpenAI’s subsequent acquisition of OpenClaw’s creator underscores the company’s ambitious plans in the agentic AI space.

A Threat to Established Software?

The emergence of AI agents isn’t being met with universal optimism. Investors are already reacting to the potential threat to established software companies. Shares of Monday.com, Salesforce, and Thomson Reuters all experienced declines of 30% or more in recent days, reflecting concerns about the long-term viability of their business models. The fear is that AI agents could render traditional enterprise software obsolete, offering a more efficient and cost-effective alternative.

This anxiety extends beyond the tech sector. Georgetown University management professor Jason Schloetzer recounted a recent conversation with a CEO who suggested the need for consultants may soon diminish, as AI agents provide readily available expertise “in my pocket.” Wedbush analyst Dan Ives acknowledges the “paranoia around AI in every industry,” but believes the market reaction is “way overdone,” dismissing the idea of AI models completely replacing enterprise software and cybersecurity firms as “a fictional tale.”

Investment and Uncertainty

Despite the skepticism, massive investment continues to pour into AI infrastructure. Companies are racing to develop and deploy the next generation of AI agents, with hundreds of billions of dollars at stake. While some investors express concern about the scale of this spending, Boloor argues that “the risk is not overinvesting, but underinvesting” in this transformative technology.

The economic impact of AI agents remains uncertain. Schloetzer points out that, like the internet itself, it may take years for the full effects to become clear. “Suddenly, entirely new businesses that had no economic attractiveness without the internet started to exist, like Netflix,” he said. “I’m waiting to see these new companies or industries that are created (by AI).”

Entrepreneur Matt Shumer recently predicted in a blog post that AI will soon tackle jobs in law, finance, accounting, consulting, medicine, and other fields. He anticipates that the experience of tech workers – witnessing AI surpass their capabilities – will soon be replicated across the service sector. However, technology consultant Jeffrey Funk dismissed Shumer’s post as “hype” driven by fear, arguing that market forces will ultimately regulate the impact of AI.

The current market volatility suggests a period of adjustment is underway. Ives believes the market will reach a “crossroads pretty soon where things will settle down,” but the long-term implications of AI agents remain to be seen. The transition from chatbots to autonomous agents represents a fundamental shift in how we interact with technology, and its ultimate impact on the business landscape is still unfolding.