Field note
Juniper Square's Fay is a useful vertical-agent signal because it puts the agent inside a narrow operational lane: fund administration.
The important product move is oversight. In regulated back-office work, the agent is not valuable because it writes a nice answer in isolation. It is valuable when work can be decomposed into tasks, checked against source records, routed through review, and escalated when something does not fit.
For New Runtime, Fay belongs in the same pattern as agentic operations platforms: the model is only one layer. The durable product is the workflow boundary around it: permissions, audit, review, task state, and the confidence to let a domain team repeat the same process every day.