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In this special edition of CAIS Live Conversations, live from CAIS Summit 2025, Robert F. Smith of Vista Equity Partners and Jason Graefe of Microsoft speak with CNBC’s Scott Wapner about the rise of agentic AI. They explain how the shift from generative to agentic systems may reshape enterprise software, data strategy, and economic value capture. The conversation explores implications for productivity, software development, and the future of work, along with how businesses can adapt through speed, workflow ownership, and reskilling. Advisors can gain insight into how AI may transform operating models across industries.
Chapter 1 — Generative vs. Agentic AI [00:01:22]
Chapter 2 — Why Agentic AI Changes the Economics [00:03:53]
Chapter 3 — Will AI Disrupt Software? [00:06:58]
Chapter 4 — Three Futures for Software Companies [00:08:34]
Chapter 5 — Speed as the New Moat [00:10:46]
Chapter 6 — Reinventing the Go-to-Market Motion [00:13:19]
Chapter 7 — Rethinking Software Development [00:20:17]
Chapter 8 — Precision in Enterprise AI [00:21:35]
Chapter 9 — A New Industrial Revolution [00:29:26]
Chapter 10 — The Future of Work and Redeployment [00:37:51]
Chapter 1 — Generative vs. Agentic AI [00:01:22]
Chapter 2 — Why Agentic AI Changes the Economics [00:03:53]
Chapter 3 — Will AI Disrupt Software? [00:06:58]
Chapter 4 — Three Futures for Software Companies [00:08:34]
Chapter 5 — Speed as the New Moat [00:10:46]
Chapter 6 — Reinventing the Go-to-Market Motion [00:13:19]
Chapter 7 — Rethinking Software Development [00:20:17]
Chapter 8 — Precision in Enterprise AI [00:21:35]
Chapter 9 — A New Industrial Revolution [00:29:26]
Chapter 10 — The Future of Work and Redeployment [00:37:51]
Creators and Guests
Host
Scott Wapner
CNBC Host
Guest
Jason Graefe
Corporate Vice President of the AI Partner Catalyst team at Microsoft
Guest
Robert Smith
Founder, Chairman and CEO, Vista Equity Partners
What is CAIS Live Conversations, Building With Alts ?
CAIS Live Conversations: Building With Alts, tackles the often untapped potential of alternative investments by sitting down with the various players in the alts ecosystem. Listen in as we dive into alternative investments from the perspective of industry experts, RIA executives, IBD executives, alts manager leaders, and alts experts. Hear what other advisors are doing, learn about new technology, and join us as we turn investment complexities into real-life concepts that could potentially help diversify and drive growth in the independent space.