We believe the AI center of gravity for enterprise value creation is shifting from LLMs to SLMs. Where the S not only stands for small but encompasses a system of small, specialized, secure and sovereign models.  Moreover, we see LLMs and SLMs evolving to become agentic, hence SAM - i.e. small action models. In our view, it’s the collection of these "S-models," combined with an emerging data harmonization layer, that will enable systems of agents to work in concert and create high impact business outcomes. These multi-agent systems will completely reshape the software industry generally and more specifically, unleash a new productivity paradigm for organizations globally.