New Delhi, Sept. 1 -- Artificial intelligence will not mark the end of the software industry, but it will significantly reshape it, according to a report by RBC Capital Markets.

The report argued that AI will benefit some incumbents while leaving others behind, and also pave the way for new large-scale AI-native companies, as well as accelerate AI-focused mergers and acquisitions (M&A).

It stated, "Similar to how software companies went through cloud transitions (some more belatedly than others), whereby we saw growth and margins meaningfully fall (in many cases going negative) before reaccelerating, thus creating stronger companies, we expect the same with AI".

The debate over AI's impact on software has created two camps.

As per the...