New Delhi, March 11 -- For decades, software companies thrived on the XaaS (Everything-as-a-Service) model; products were unbundled into separate, recurring subscriptions. Software empires were built on this approach, offering cloud-based services for a monthly fee. This model flourished because it addressed software piracy, ensured a revenue stream and gave business clients scalable access to enterprise-grade tools.

However, standalone subscription software is now under severe pressure. Despite rapid product and feature launches, XaaS companies are struggling to sustain revenue growth. The rise of Generative AI (GenAI) is altering the economics of software, leading to a shift where AI is no longer a product but an embedded layer. This c...