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Even with the costs involved in changing, are customers deciding they are willing to change everything?

That cost has decreased. Previously, before Covid, there was a lengthy sales cycle, and the migration costs, such as database migration, were much higher due to a lack of automation. For example, moving data from a sticky database to another was more challenging because there was less adoption of MongoDB, Cosmos DB, or Azure, which offered fewer cloud features and functionalities. Now, migration is much simpler than it was six years ago. The cost has significantly decreased. If the cost was a million dollars six years ago, it's now less than half a million dollars, easily more than a 50% reduction.

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We can look at this more broadly, not only in healthcare but also in other verticals or even more horizontal software applications.

These CTOs come with a mindset to experiment with tech, expecting the same freedom they had at companies like Microsoft, Google, or Stripe. They are investing heavily in AI with the intention to experiment, without focusing on return on investment. This is evident when you talk to industry experts. The result is no significant return, just small gains from analytics that might impress investors.

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