Eight ex-ServiceNow salespeople have been poached by Serval as companies race to compete in the AI boom

"AI is really making serious moves. In a similar way, market sentiment is responding; I think people are responding in the same way. Every incumbent tech company is facing a similar talent drain, according to Jules Levy, ServiceNow's former head of enterprise generative & enterprise AI, who is also among those joining Serval."

"I don't think this is unique to ServiceNow. Many folks within those incumbents are looking to jump to AI-native platforms that will be able to compete more effectively in the AI space, according to industry observers tracking talent movements across the software sector."

Eight employees from ServiceNow and its Moveworks subsidiary have recently joined rival startup Serval, signaling talent migration challenges for established tech companies. ServiceNow's stock has declined 40% amid industry concerns that AI could erode software company profit margins. Despite acquiring Moveworks for $2.85 billion to strengthen AI capabilities, ServiceNow faces retention difficulties as well-funded AI startups attract talent. Serval, valued at $1 billion after a $75 million Series B funding round led by Sequoia Capital, represents an appealing alternative. While eight departures represent a small fraction of ServiceNow's 29,000-person workforce, the exodus reflects broader industry trends of talent migration from established companies to AI-native platforms.

Read at Business Insider