Oliver Wyman: Agentic AI Has Repriced Three Core SaaS Assumptions — Defensibility, Growth Model, and Competitive Moats All Challenged

Oliver Wyman·high signal

Oliver Wyman's April 2026 investor report identifies four mechanisms destroying SaaS value: substitution (AI does the task), competitive acceleration (AI enables DIY), agentic execution (agents replace seats), and indirect disruption (AI replaces the job the software monetized). The report warns that deal processes now face wider bid-ask spreads, longer hold periods, and lenders asking harder questions about revenue durability. For builders, the four-mechanism framework is the clearest diagnostic for evaluating which SaaS categories your product competes in.