The discipline of Software Engineering is being disrupted with the advent of large language models (LLMs) and agentic AI. There is a plethora of research, examples and testimonials out there on this. We will pull the curtain a bit more and look at the world of enterprise software – large application development and maintenance scenarios that are the primary interest for major enterprises and organizations across sectors and across the world. In this setting there are unique challenges that emerge related to data scarcity, complex application architecture, legacy programming languages, application modernization and working within the requirements imposed by the business. We will see examples of how LLMs and generative AI are being leveraged to address these challenges, but how it is important to combine these with algorithmic advances and program analysis to enable production use of such AI-based solutions.