UiPath's second quarter results indicate that enterprises are starting to realize that genAI-powered agents will require orchestration and process automation at the core.
Take A Measured Approach To AI Adoption
The rush to AI projects often comes as an all or nothing approach. However, lessons learned from Constellation's Executive Network (CEN) members show a gradual and measured approach. Constellation sees five phases to adoption from both a business and cultural point of view:
UiPath CEO Rob Enslin resigned, the robotics process automation company cut its second quarter outlook and said the company is seeing "increased deal scrutiny and lengthening sales cycles for large multi-year deals."
UiPath reported better-than-expected fourth quarter results with revenue growth of 31% as its automation platform gains traction.
Business technology decision makers are optimistic about 2024 and are plotting investments in generative AI, analytics and automation, according to Constellation Research's second half 2023 CxO Business Confidence Survey.
UiPath closed a record number of third quarter deals over $1 million in ARR. Customers with $1 million or more in ARR grew 31% to 264, while customers with $100,000 or more in ARR increased to 1,974.
UiPath launched Autopilot, which melds generative AI, domain specific AI and its automation platform, to automate work via natural language. The launch adds to the automation platform push at UiPath that's well underway as the company aims to shed its image as a robotics process automation (RPA) company.
As for the outlook, UiPath said revenue for the third quarter will be between $313 million to $318 million, which is higher than estimates of $315 million.
Why a CTO can become a CFO at Chevron: The company's ability to drive returns and efficiency is enabled by technologies including analytics, robotics, machine learning and high performance computing.
IBM said it will combine Apptio with its IT automation software including Turbonomic, Instana and AIOps and Watsonx AI platform.
ServiceNow is increasingly using its workflow automation platform to expand into new use process use cases. ServiceNow is actively courting finance, procurement and supply chain leaders.
