直观来看，美股软件板块整体已进入技术性熊市，许多头部企业软件公司股价均承受超过20%的跌幅，直至如今，市场整体对软件股仍有下跌空间的预期。市场对软件股尤其是SaaS、企业软件普遍存在悲观情绪：既希望企业重生冲出原有桎梏，也担心AI冲击企业软件本身。
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This evolution mirrors what happened with featured snippets and knowledge panels over the past decade. Google gradually introduced elements that answered questions directly on the search page rather than requiring clicks to external sites. AI Mode represents the next iteration of this trend—more comprehensive answers, synthesized from multiple sources, delivered conversationally rather than as extracted snippets.