美银称AI助手主导软件入口对企业软件商构成长期挑战，微软/Salesforce/ServiceNow被认为更能适应

Bank of America said that AI assistants becoming the main way people use software could challenge enterprise software vendors, though it viewed Microsoft ( MSFT ), Salesforce ( CRM ), and ServiceNow ( NOW ) positioned to adapt. The brokerage said users may no longer need to visit applications directly as they turn to chat-based AI interfaces, creating a long-term risk even for companies that own the data and workflows. It added that leading AI labs could eventually move into competing application layers. BofA said Microsoft is well positioned to own the new interface because of its distribution through Office, Teams, Outlook and Windows, and its Copilot strategy. It said Salesforce was “playing both sides,” using Slack to own the user interaction while opening its data and workflows to third-party interfaces such as Claude. This approach could dilute Salesforce’s own interface. "We therefore view Salesforce’s approach as a pragmatic hedge, win the interface through Slackforce where possible while also offering access through external interfaces, keeping the data and its context in-house," analyst said. ServiceNow  may not need to own the interface, BofA said, provided it keeps control of the governed workflow and execution layer underneath. Workday ( WDAY ) faces low displacement risk but a higher burden of proof to justify extra spending on its own AI interface, the brokerage said, citing constrained IT budgets.