Concerns surrounding the potential disruption of Software as a Service (SaaS) companies by artificial intelligence (AI) have been exaggerated, according to Arjun Sethi, co-CEO of the prominent U.S. cryptocurrency exchange Kraken. Speaking at the Semafor World Economy conference in Washington, D.C., Sethi emphasized that while technological disruptions are a consistent aspect of the evolving business landscape, the current integration of software in companies is more prevalent than ever.
Sethi remarked, “There’s always a certain set of companies that get disrupted by technology, and that has continued to happen. I also don’t think there are companies today that aren’t run by software in some ways.” This statement underscores the notion that most businesses have already adapted to software-driven operations, thereby mitigating the risks associated with the rapid advances in AI technology.
The conversation comes at a time when Kraken, based in San Francisco, is on the verge of significant expansion. The exchange confidentially filed for an initial public offering (IPO) late last year, signaling its ambitious plans for growth. This move follows a recent investment round in April that valued the company at $13.3 billion—a decline from its previous peak of $20 billion reached in late 2025.
Sethi’s insights reflect a broader industry perspective that while technological advancements may disrupt specific companies, they can also drive innovation and efficiencies across the sector. As AI continues to proliferate, it may serve as a catalyst for transformation rather than a detriment, thereby enabling SaaS providers and other software-reliant businesses to evolve and flourish in an increasingly digital economy.
