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[DEMAND 2024] Software Buying & Selling in the Age of AI

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At Demand 2024, Godard Abel, Co-Founder and CEO of G2, shared that in 2023, G2 marketplace expanded with over 19,000 new software products, marking a 12% year-over-year increase and intensifying competition among vendors with innovative AI-powered solutions. AI led as the fastest-growing SaaS segment with a 44% year-over-year growth rate—more than double that of the next segment. High-growth categories included Design (19%), Office Tools (17%), IT Management (15%), Marketing (15%), and Human Resources (14%), reflecting AI’s transformative influence.

Godard highlighted the rapid growth in AI-driven categories like AI writing assistants, which surged 170% year-over-year with 353 new products. Subcategories such as text-to-speech, chatbots, voice recognition, MLOps, and virtual assistants showcased AI’s broad applications, from language processing to image recognition. Generative AI investments surged, with one in five new unicorns in 2023 focused on AI, totaling $25 billion, including $3 billion in Q1 2024.

He emphasized the increasing global nature of software leadership, with EMEA and APAC regions comprising 25% of global leaders. Buyer behavior is evolving, with 98% of enterprise purchases starting with a Google search, 69% of buyers engaging sales teams post-decision, and 79% favoring self-serve buying journeys. These trends highlight the importance of CloudTask’s seamless, consumer-like experiences connecting buyers with remote candidates, sales agencies, and software providers.

Quick ROI remains critical, with 44% of buyers achieving it within six months and 78% expecting it within that timeframe. AI has become a key productivity driver, with 56% of buyers adopting AI platforms for sales/CRM, customer support, marketing, and content generation.

Godard predicted that conversational AI will continue reshaping software transactions, enhancing buyer-seller interactions through greater efficiency and personalization.

Demand 2024 Sessions Recap

Godard Abel’s presentation was a standout, but Demand 2024 offered a wealth of insights for RevOps leaders seeking actionable strategies and tangible outcomes:

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RevOps Roundup - Week 36 - 2024

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