Trends in agentic AI prove positive for several enterprise software companies: Wells Fargo

An executive with Glean, a workplace artificial intelligence platform, provided insights into the deployment of Agentic AI with Wells Fargo, detailing trends that could prove positive for several enterprise software companies.

One of those was the productivity gains achieved through generative AI coding tools and assistants.

“Glean is able to drive 30-40% productivity improvements from its usage of genAI dev tooling, primarily focused on reducing the amount of mundane/rote tasks (& freeing up space for greater flexibility/creativity),” said Wells Fargo analysts, led by Michael Turrin, in a Wednesday investor note. “Despite the significant gains, the expert noted Glean is ‘by no means’ slowing down its hiring efforts, expecting to instead just improve overall throughput/efficiency for its devs.”

Wells Fargo noted that this proves positive for Atlassian (NASDAQ:TEAM) and GitLab (NASDAQ:GTLB).

Although code generation use cases continue to be the primary focus in generative AI, sales and service support rank second. This is positive for ServiceNow (NYSE:NOW) and Salesforce (NYSE:CRM), Wells Fargo said.

“The expert noted that AI systems are growing in complexity given the need to process all kinds of data (unstructured vs structured vs semi-structured; real-time vs batch; operational vs analytical; etc), necessitating a stronger underlying data stack,” Turrin said.

This proves positive for Confluent (NASDAQ:CFLT), the bank said.