{"id":2066859,"date":"2026-08-03T13:21:43","date_gmt":"2026-08-03T11:21:43","guid":{"rendered":"https:\/\/www.luxsure.fr\/2026\/08\/03\/building-for-the-long-term-why-ai-is-restoring-value-to-the-long-term\/"},"modified":"2026-08-03T13:24:42","modified_gmt":"2026-08-03T11:24:42","slug":"building-for-the-long-term-why-ai-is-restoring-value-to-the-long-term","status":"publish","type":"post","link":"https:\/\/www.luxsure.fr\/en\/2026\/08\/03\/building-for-the-long-term-why-ai-is-restoring-value-to-the-long-term\/","title":{"rendered":"Building for the Long Term: Why AI Is Restoring Value to the Long Term"},"content":{"rendered":"\n

For years, the digital economy has celebrated speed. Raise funds quickly. Grow quickly. Go public quickly. Exit quickly. <\/p>\n\n

At VivaTech, a conversation between Philippe Botteri (Accel) and Yannick Jung (BNP Paribas) painted a different picture. As artificial intelligence becomes a strategic infrastructure, the ability to endure could once again become a major competitive advantage. <\/p>\n\n

And, paradoxically, AI is accelerating this trend.<\/p>\n\n

Sovereignty is no longer a theoretical debate<\/h2>\n\n

The discussion began with a topic that would have seemed unthinkable just a few years ago: the possibility that a foreign power could restrict access to certain AI technologies used by European companies.<\/p>\n\n

For Yannick Jung, this episode serves as yet another wake-up call. For two decades, European companies have built their digital transformation on widely accepted technological dependencies. AI is now bringing these dependencies to light. <\/p>\n\n

The question is no longer simply which model performs best. It has become: What happens when access to that model is no longer guaranteed? <\/p>\n\n

This issue extends far beyond the technology sector. It affects finance, healthcare, manufacturing, and even defense. <\/p>\n\n

The best model isn’t always the best choice<\/h2>\n\n

Faced with this new reality, Philippe Botteri is taking a pragmatic approach.<\/p>\n\n

According to him, most companies don’t need the most advanced models to generate value. They need the right model for the right task. <\/p>\n\n

This approach marks a break from the first phase of the AI race, which was dominated by the systematic pursuit of maximum performance.<\/p>\n\n

The issue is primarily an economic one, rather than a technological one.<\/p>\n\n

The true measure is no longer the model’s power but the return on investment achieved. A less sophisticated but less expensive model can sometimes generate more value than cutting-edge technology used indiscriminately. <\/p>\n\n

This reasoning explains the growing interest in hybrid architectures that combine proprietary models, open-source models, and specialized solutions.<\/p>\n\n

AI is gradually evolving from a single technology into a portfolio of resources.<\/p>\n\n

The Golden Age of Patient Capital<\/h2>\n\n

One of the most striking insights from the discussion concerns the evolution of the life cycle of technology companies.<\/p>\n\n

In the 1990s, an American tech startup could go public in seven or eight years.<\/p>\n\n

Today, that period is around fifteen years.<\/p>\n\n

In the meantime, the private markets have undergone profound changes.<\/p>\n\n

Fundraising that used to take the form of initial public offerings (IPOs) is now conducted through private placements. The funds raised enable companies to continue growing without facing the immediate constraints of public markets. <\/p>\n\n

This transformation is also changing the way investors evaluate companies.<\/p>\n\n

Valuation is based less on current earnings than on a five- or ten-year projection. Investors are now buying into a growth trajectory as much as they are buying into a balance sheet. <\/p>\n\n

Value lies more in future potential than in current performance.<\/p>\n\n

AI Is Changing the Metrics of Value Creation<\/h2>\n\n

This development raises another fundamental question: How can we measure a company\u2019s performance in the age of AI?<\/p>\n\n

For two decades, SaaS software has relied on relatively simple metrics: recurring revenue, growth, retention, and gross margin.<\/p>\n\n

AI introduces a new variable: the cost of tokens.<\/p>\n\n

According to Philippe Botteri, the economic stability of tomorrow\u2019s companies will depend largely on their ability to strike the right balance between traditional software and the use of AI models.<\/p>\n\n

If there isn’t enough AI, the product risks becoming obsolete.<\/p>\n\n

Too much AI can squeeze margins due to inference costs.<\/p>\n\n

This search for a balance echoes previous major industrial transitions: innovation initially creates new costs before yielding new productivity gains.<\/p>\n\n

The real revolution is silent<\/h2>\n\n

Contrary to claims that traditional software is on the way out, investors are now observing a more nuanced situation.<\/p>\n\n

AI does not necessarily replace existing companies.<\/p>\n\n

It accelerates the growth of those who know how to adapt.<\/p>\n\n

Accel’s portfolio companies exemplify this trend. Established platforms are now using AI to accelerate their product roadmaps, enhance their services, and improve the user experience without undermining their core business models. <\/p>\n\n

The real divide, therefore, is not between old and new companies.<\/p>\n\n

It falls somewhere between those that are quickly integrating AI into their value proposition and those that are sitting on the sidelines.<\/p>\n\n

Defense: A New Arena for Economic Sovereignty<\/h2>\n\n

The conclusion of the discussion offered a glimpse into one of the most tangible consequences of this new era.<\/p>\n\n

For both investors and banks, defense has once again become a strategic sector.<\/p>\n\n

The increase in European military budgets, rising geopolitical tensions, and the need to develop autonomous technological capabilities are creating an unprecedented investment cycle.<\/p>\n\n

Behind drones, space launch vehicles, and cybersecurity lies a common challenge: reducing critical dependencies.<\/p>\n\n

Sovereignty is no longer just a political goal.<\/p>\n\n

It becomes an investment thesis.<\/p>\n\n

The Advantage of Companies That Last<\/h2>\n\n

The official topic of this conversation was corporate longevity.<\/p>\n\n

The answer given by the speakers is actually quite simple.<\/p>\n\n

The organizations that will survive the coming decades will likely be neither the fastest nor the ones that receive the most media attention.<\/p>\n\n

They will be the ones capable of combining three qualities that are rarely found together: a long-term vision, patient access to capital, and a constant ability to adapt to technological changes.<\/p>\n\n

In an economy obsessed with disruption, continuity may well once again become the true rarity.<\/p>\n\n

And at a time when artificial intelligence is accelerating everything, the ability to think ten years ahead may be becoming the last competitive advantage that is difficult to replicate.<\/p>\n\n

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