An Exciting Time for Enterprise Software | Aneel Bhusri on Business Models, CEO Priorities

The Big Themes:

• Top CEO priorities: To drive digital business, top CEOs are focusing on acquiring and retaining talent, and leveraging and deploying emerging technologies such as AI and ML. Regardless of the company, all businesses must be "tech-enabled" now.
• New business models: The new (and multiple) business models of today are geared to adapt to meet customers where they are. Companies are shifting to subscription-based models and consumption-based models.
• Access to AI and ML data: Many strong point solutions that use AI and ML are out there, but companies cannot access the data from these tools. On the "HR side," Workday has access to the data from over 16 million records.

The Big Quote: "Well, I think our customers are deploying AI and ML, pretty aggressively. You know, as I mentioned, in their core business up front, and now they're turning to HR and financials. ChatGPT is a really powerful technology, it's gotta be used the right way. There's wrong ways to use it. And what I worry about a little bit is that traditional AI and ML... the analytics that you can do with traditional AI and ML are still really, really valuable. And what I see from customers is high uptake in that area. They want products powered by AI and ML. So Skills Cloud would be a great instance of that, where we enable jobs to be broken down into skills and put it in a canonical format, normalized across all of our customers, and then we can help our customers do matching in terms of people they want to hire against the skills they're looking for. So that's all AI and ML-driven."

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