The software industry is experiencing a 'trust decline' due to artificial intelligence, according to Michel Sogny, Chief Investment Officer at French asset management firm LFDE. According to Jin10, Sogny highlighted that AI is dividing the market into anticipated winners and losers, with software companies increasingly falling into the latter category. He emphasized that the market is not questioning AI itself but is contemplating which entities will survive this AI wave. Sogny added that investors are concerned about the substitution risk AI poses to software companies and whether this technology will dilute industry profits. Despite these challenges, extreme market volatility is also creating investment opportunities, as some software companies with long-term growth potential are being valued as if they have no future.