Earlier quoted context omitted.
We had APIs since Sun RPC, they just keep being rebooted. The 2021 version is REST/gRPC for SaaS products.
REST? Didn't you get the memo? We've all moved on to GraphQL because Facebook use it and that means we all should use it. It also enables our UI components to easily fetch data themselves . Because that's a great architectural pattern that we've discovered.
For instance, assume the future of IT looks like it does today, only ramped up x10. Imagine the majority of business value is driven disparate API's/Services managed by companies or organisations, with numerous and diverse clients that can "plug in" for their respective needs.
GraphQL essentially allows you to simplify the work that any client (internal or external) needs to do to tap into your interface, provided that you invest the appropriate resources on the backend. (which you would, if that were your core business proposition and a piece of your competetive advantage)
If companies continue to digitalize (is there any doubt) then a company's value will be encompassed and driven by the quality of its API, and importantly, it's relative use of connecting with many diverse clients. Therefore backend API's that support and interface to digital products the best will win.
I see GraphQL supporting this in that it trades simplicity and a uniform mono-interface on the front-end for complexity on the backend. I think a lot of firms will look at that trade and call it a great deal.