Openai sneezes, and software companies get colds
Alan Togson, Docusign CEO was not worrying when Openai had created an internal tool called Docugpt last week. He may have preferred Openai to choose another name for his contracting tool. But still, he thought, Docugpt has hardly scratched the level of what Docusign can do. “This is a relatively obvious show, and it is quite famous that these things are possible, and it is not really material for our story or competitive position,” he said.
However, Docusign investors did not agree. The company’s shares fell 12 % after the news. It was not the only software company to get a blow. In addition to Docugpt, Openai described a number of other custom AI apps that the company uses, including an artificial intelligence sales assistant, a customer feedback robot and an artificial intelligence support agent. Hubspot stocks fell 50 points after news, while Salesforce saw less.
This part emphasizes the power of Openai in the current market. The company represents relatively essential internal tools built on its general API, but its blog post was interpreted by some as a statement of war against corporate software providers. For leaders like Thygesen, this part shows that this challenge is not only accompanied by progress in artificial intelligence but also narrative.
“This is a market that is currently being driven by the narratives,” says RBC analyst in RBC capital markets that focus on technology stocks. “Foundations are some kind of ignorance.”
According to Tugsen, the docusign principles are stronger than ever. While the company is primarily known as the signing of legal binding contracts, it has recently launched an artificial intelligence platform that helps customers manage any aspect of the contract process, from creating documents to verifying the signatories. The company uses a combination of internal tools and artificial intelligence models from third -party companies, including Openai.
Docusign’s stock prices have been unstable this year, but Togson assures me that the future is clear. “I am very upright over the future of Docusign and what is especially artificial intelligence for us,” he says.
