In the early days of the AI boom, "speed to market" was the only metric that mattered. This led to an explosion of "AI Wrappers"—products that essentially resold foundation model intelligence with a thin UI layer. But in 2026, the wrapper era has collapsed. As incumbents like Microsoft and Google bake those same features into the OS, PMs face an existential question: Is your product a feature, or is it a business? This panel explores the architecture of defensibility. We move beyond the "Build vs. Buy" debate to discuss the "Wisely Built" middle ground. Our experts will dive into how to move from "renting intelligence" to "owning the moat" through proprietary data flywheels, domain-specific fine-tuning, and vertical integration. If you are worried that your product is one API update away from obsolescence, this session will provide the blueprint for building a technical stack that actually belongs to you.