The AI trade is powering Wall Street to all-time highs, and since the March 30th bottom, the semiconductor ETF has surged more than 30%, with the Mag 7 all posting double-digit gains, while tech's massive margins combined with 10 to 20 year renewable energy lock-ins are shielding the sector from rising costs.
Well, as Mag 7 names begin to report Q1 earnings, AIA.
Spending will shift back into focus.
And joining me this morning to weigh in is Ashim Gupta, the CFO and COO of UiPath. great to have you here.
Thank you so much for joining me.
Thanks for having me, Rey.
Well, you and your team at UIPath just came off the podium after ringing the opening bell this morning.
So this just marked 5 years since your IPO.
So tell us about the pivot.
Look, I think when we IPOed 5 years ago we were an RPA company that was expanding its fabric.
Today we are an AI company that uses some of our core technology in terms of bots, but harnesses AI to solve the most complex processes and automate the most complex processes for our customers.
And where you look at us positioned today, we have Fortune 500 companies implementing agents and robots and orchestrations side by side.
To really start automating things that never before have been able to be automated and for us, our employees, our revenue, that is super, super exciting for us.
So tell us about the vision moving forward for UI Path.
Yes, so where we play is the most complex and hard processes that exist in an enterprise that are intensely manual, that requires high security, that requires high control.
That is where we are experts.
And where our technology really thrives.
So whether that is in healthcare claims denials, or revenue cycle management or within commercial lending and loan and mortgage applications, those are just some of the examples of processes where we can take the manual effort and really collapse it down and bring ROI with faster speed and higher quality to our customers, and that in the world of AI right now is super exciting.
And I do want to ask you about this inflection point where you believe we are at when it comes to AI adoption.
What's really happening?
Look, I think the first thing is AI is changing the way everybody is working, but it's also changing the way everybody is thinking.
What people thought was never possible.
We have to acknowledge, like a lot of the work that has been done now shows.
Many things are incredibly possible in terms of doing things that are reasoning, that are replacing things that we thought were just human abilities, and what that is doing is pushing our workforce to higher ends of the operation and making technology come in and unlock possibilities that corporations never thought before.
The biggest area that I would say that is the discussion with customers is harnessing the power of AI, but having the security and control of a world where everything was in your control, and that is again where orchestration with UI Path really thrives, and that's what executives, whether it's CIOs or CFOs, are looking to UI Path to help them lead and implement AI in their enterprises.
And finally, before I let you go, we have about 60 seconds here.
So the myth of the Sass apocalypse.
So you think that this is not the case.
So tell us what's happening.
What's really happening below the surface when it comes to Sass?
Look, I think there's going to be things that do get replaced.
I think Sass apocalypse, the reality of it is.
You know it's not an all or nothing equation.
There is going to be a number of software companies like UIPath that harness AI to get to the next level, and then there's going to be certain companies or certain parts of technology that don't necessarily make it to that pivot, and there's going to be new technologies that emerge and new services that emerge.
So Sapocalypse.
It's a very fear inciting area, and I actually think we are inspired.
Our customers are inspired to harness AI to bring new possibilities to both enterprises and ourselves.
Well, it was great to have you here.
Thank you so much for joining me today and thank you so much for sharing the story of UI Path.
Thanks so much, Remy.
