The trajectory of AI agents is clear: they are replacing software as the interface for work. Not augmenting software — replacing the software layer entirely.

Instead of opening a CRM to update a contact record, you ask an agent to do it. Instead of using a project management tool, you ask an agent to coordinate tasks. The agent talks to the software; you talk to the agent.

This has profound implications for SaaS companies. The distribution moat (users logging into your app) is eroding. The product moat is shifting to API quality, agent compatibility, and data depth.