SAP<\/a> are pure examples. You cannot really do a fully automated enterprise on their instance, and people are reluctant to even code into their ERP systems. It is dangerous to record something into the core system every time there is a change to a process, so people don\u2019t do this. There is always another layer that sits on top \u2014 the automation layer. It is easier, cheaper, and less disruptive to the business to put your automations, your operations, on this layer rather than into the core systems.<\/p>\nWhat do you think the limits of automation are right now?<\/strong><\/p>\nI think the limits in technology are more around natural language processing. If a process that needs automation requires understanding a lot of natural language to accomplish, it is more difficult to automate. Anything that is repetitive in nature, even if you require intelligence in the process, like reading documents or invoices we can handle. But the moment you need to get to higher cognitive tasks, that is the limit.<\/p>\n
A concept that we call \u201chumans in the loop\u201d is actually embedded in our software, so you can do a big process that involves multiple users and hundreds of tasks. We basically organize tasks like that like a big game of ping-pong between humans and robots. If you send an email or text to one of our robots asking for something and we cannot understand the intent, we parse the request as much as we can. If we completely understand those requests, we go and automate them. If we do not understand them, we will create a test for a human user and they will give us a more structured format. Then that request is passed back to the robots and so on. This is how it goes. Like a game of ping-pong. Back and forth, human to robot to human to robot.<\/p>\n
\n
\u201cWe remove the mundane tasks from people\u2019s daily work… That makes the job much more enjoyable.\u201d<\/q><\/aside>\n<\/div>\nWe remove the mundane tasks from people\u2019s daily work while they deal mostly with the exceptions. That makes the job much more enjoyable and the output of the people working in operations higher.<\/p>\n
One thing I am really curious about is software products. They are made for their users, right? The product managers of any software product think about who is using the software, and then they write features for that person or they write user stories about that person. Have you seen any software adapt itself to UiPath now that a core user base is robots? That seems like the craziest feedback loop of all time.<\/strong><\/p>\nI\u2019m not sure I get it. You mean that users will be adapted to how the robots operate?<\/p>\n
Right. If you are the product manager of Nilay\u2019s Enterprise Software and you know about 50% of the users of the software are UiPath robots, I had better optimize the software so they can use it more easily. Have you seen that feedback loop?<\/strong><\/p>\nWell, not really so far. I have seen our clients putting more pressure on their vendors and being more predictive with the changes to the user interface that might break the robots. <\/p>\n
It\u2019s interesting, I once had this discussion with a guy from Microsoft that works in their interface group. They are also anticipating a world where enough pressure will come from software robots using the user interface that they will have to treat it almost like an API. You cannot just break the existing things. Right now people are changing user interface much more freely, sometimes stupidly. I don\u2019t understand what was in their mind when they changed the interface. Maybe the user interface will become more like a contract, like API is supposed to be.<\/p>\n
That or you will have two user interface modes, the robot and the human.<\/strong><\/p>\nPossible.<\/p>\n
There is just a world of software design here that I don\u2019t think has yet responded to the rise of automation. I am just dying to see what that looks like, because it seems very unlike anything that has come before.<\/strong><\/p>\nThat\u2019s a great point, Nilay.<\/p>\n
Let\u2019s talk about UiPath itself now. This is what I think of as the <\/strong>Decoder<\/strong><\/em> questions. How many employees does UiPath have?<\/strong><\/p>\nIt\u2019s almost 5,000 people.<\/p>\n
That is all around the world, right?<\/strong><\/p>\nYes. We are very much distributed around the world. In fact, as a business model, we have been one of the very few companies I know that have started their expansion globally from day one. We started in a small country in Europe \u2014 in Romania \u2014 but when we got product-market fit, we expanded simultaneously to the US and Asia. Japan was the fastest revenue growth for us in the initial years.<\/p>\n
It is a really interesting growth story to expand globally right away. That obviously implies lots of things. How did you structure the company to do that?<\/strong><\/p>\nWell, I would say I didn\u2019t structure the company. In the beginning, I think the key was to offer people a lot of freedom to do what they want. I was working very closely with the people in sales, and one day one of our sales leaders came to me saying, \u201cThere is an event organized by PWC in Japan. I would rather go there. Maybe it\u2019s a good market for us.\u201d I said, \u201cWhy not? Just go to Japan.\u201d It proved to be an awesome market for us because they were prone to automation. It was not that we had a big strategy. It was more of a test; go, use your best judgment, and then spread. <\/p>\n
It was a bit more like Genghis Khan and the Golden Horde \u2014 go faster than your competition in the richest places. You need to find where those are and then just go and occupy then move on. This is what we did in the early years, and it was very successful.<\/p>\n
You are now a public company with 5,000 employees. How is UiPath structured now?<\/strong><\/p>\nWell, many people in the first years would say that we were becoming a corporation, that we were more bureaucratic and hired a lot of senior people from the external world. I am trying to keep a balance and be a disciplined company that generates predictable results quarter over quarter while keeping the soul of an explorer, so that people have the freedom to try things, to break things, and to find new opportunities. <\/p>\n
One of my mantras that I am trying to instill in this company is, \u201cAlways challenge your boss.\u201d I even say we have a \u201cno boss\u201d culture, and the more-senior people are always taken aback and ask, \u201cWhat do you mean by this?\u201d It is very empowering to think, \u201cI don\u2019t have a boss; I have a partner, and I need to be capable of speaking very freely with them.\u201d That is one of the most important things that I am trying to achieve here.<\/p>\n
Well, that leads right into what I think of as the classic <\/strong>Decoder<\/strong><\/em> question. How do you make decisions?<\/strong><\/p>\nI listen a lot. In this interview, I feel like I talked a lot, but that is not my style. I am trying to learn more by listening to people. Obviously, I have no idea how to run a big company at this stage because I have never been in a similar situation before, but I am trying to build a very close-knit executive team that relies on each other. Our way of making decisions is to do them very fast if they can be reversed \u2014 because it\u2019s always a cost of decision \u2014 and do them very slowly if they are irreversible. <\/p>\n
One of the interesting stories about building the framework of this company was about the culture. We were like a bunch of kids 10 years ago, thinking about how to define the culture. We came up with lots of words like, \u201cWe are open and transparent,\u201d but that ends up diluting the culture. I had this epiphany one day and I said to myself, \u201cWe need to define the culture by one single word. Let\u2019s start there.\u201d <\/p>\n
\n
\u201cIf you cannot prove that you are capable of listening or changing your mind, this is not the company for you.\u201d<\/q><\/aside>\n<\/div>\nGoing back to our roots, I found that humility is the word that should define us. Not in the sense of being submissive, obviously, but in the capability to listen and change your mind, your ideas. I don\u2019t really like people that believe, \u201cI\u2019m a big guy. I know what I\u2019m doing. I got it.\u201d This is not our style. If you cannot prove that you are capable of listening or changing your mind, this is not the company for you.<\/p>\n
So let me just add those two things together. You are the CEO, and at some point the people who work for you \u2014 even though they are not bosses either \u2014 just want a boss to make a decision. How does that play out in practice for you? You have listened a lot, you want to be slow on irreversible decisions, and you want to have the humility that you don\u2019t know everything. At the end of the day though, you have to decide when it\u2019s time to go public. How do you make decisions like that? How do you empower people underneath you to make those decisions and tell people what to do?<\/strong><\/p>\nI made the decision of going public the moment I took external funding into the company more than five years ago; our first round of investment was in July 2015. Everyone should subscribe to this idea, the moment you take external funding is when you basically have to decide over some kind of M&A. The better question for me is, \u201cWhy now?\u201d <\/p>\n
We went through an accelerated maturing phase in 2019 and 2020, and the market was just ripe \u2014 I think almost the best ever \u2014 for an IPO. We knew that the window for an IPO opens and closes, and we were ready from the internal systems and the predictability of our revenue. We had more than 3,000 employees at the time we IPO\u2019ed, and we wanted to give them a way to cash out after all the years they put in. It was a bit of a no-brainer for us at that moment. <\/p>\n
Public markets are a brutal stage but I think it\u2019s very simple to explain why. As much as we tell ourselves and our employees that we are here for the long term, the fact of the matter is that every day you see a movement in the stock price and it affects us because it\u2019s tight. Many people I work with are leveraged on the UiPath, so it has a direct impact on them. In a private company, maybe they raised money in August last year with high valuations, but right now they are not forced to adjust their internal valuations. Even when they hire people, they can say, \u201cThis is my valuation.\u201d This is not real money in a sense, so they are less affected by these movements of the stock. <\/p>\n
In our discussions with investors, it\u2019s a different level, having private investors and having public investors. In a way we have been forced to mature in a condensed amount of time. I felt that makes us a bit more competitive and more resilient. So it has benefits, but it\u2019s not easy. This is what I\u2019m trying to say.<\/p>\n
You went public on April 21, last year. What is the biggest lesson you have learned in that year of being a public company CEO for the first time?<\/strong><\/p>\n\n
\u201cWe started to drink our own Kool-Aid and could have done better, honestly.\u201d<\/q><\/aside>\n<\/div>\nThe biggest lesson for me was never lose the grip on the company. I think all of us felt a bit too relaxed after a very successful IPO and stock pricing going through the ceiling, and we were maybe a bit drunk with our own success. We didn\u2019t make big mistakes, but I felt that we started to drink our own Kool-Aid and could have done better, honestly. We are working in an amazing market in its early innings. We could have captured more of this market if we had stayed laser-focused. You can see this lesson across many recent IPOs.<\/p>\n
Let\u2019s talk about that market. I think that is a really interesting thing to focus on. <\/strong><\/p>\nYou have a product, people like it, and you are selling it to a lot of big companies. UiPath has a ferocious product development cycle. The other side of that is sales. You could grow your market by selling the product you have to people who might not know about automation, you could apply it to more places with your existing customers, or you could develop new products to attack new segments of the automation market. What\u2019s the split there for you? How do you decide on making new products for new uses, versus do you invest in sales to get new customers, or sell more to existing customers?<\/strong><\/p>\nI think the only way is to do both and simultaneously. When we saw the big market expansion, which started seven years ago, we had two big competitors. One of them was the most advanced at that time in terms of the overall technology, but they stopped investing in that and moved to invest more into go-to-market. <\/p>\n
It was still early in the market, so they got the lead. They got a very early IPO button and more penny markets than on the big market. That happened in the UK, and I think they completely stopped the innovation in the company. If you look at their product seven years ago, you can see big differences. We invested hugely into product development, because we had brilliance. <\/p>\n
This is part of what we call computer vision. You look at the screen and you understand what\u2019s on the screen. Which one is the button? What are the radio buttons, the selections, et cetera? We understand very well. That was our secret power, and we are much better than everyone else on the planet. Starting from this brilliant thing that we had and developed over time, we invested hugely in building the wide spaces around the product. We went from being a distant number three in the market in 2015, to number one by 2018. Since then, the lead is increasing. After we got product-market fit at the beginning of 2017, we had a kind of overarching product capable of automating end to end. Then we started to invest massively into the go-to-market and then it continued.<\/p>\n
I think this is the right go-to-product-market fit. If you invest faster than this you will be bored, and you may not be capable of hiring the best sales people out there. The moment you get product-market fit, it\u2019s kind of a self-fulfilled prophecy. The product sells itself. Sales people smell it. You get better and better people that make bigger and bigger deals.<\/p>\n
It\u2019s amazing how the best sales people always gravitate towards the product that sells itself.<\/strong><\/p>\nExactly.<\/p>\n
There\u2019s something there. It would take another hour of <\/strong>Decoder<\/strong><\/em> just on that idea. <\/strong><\/p>\nI am curious about challenges. You do have some competitors that are in different stages. Many years ago when I was with Microsoft I saw [Microsoft CEO] Satya Nadella, and he had just discovered robotic process automation. He was glowing about it, telling a room full of reporters and analysts that robotic process automation was a big new market for Microsoft. <\/strong><\/p>\nObviously, I think one of the key pieces of software that UiPath automates is Microsoft Office, specifically Excel. How do you see that relationship with a company like Microsoft or a Salesforce? You are using computer vision, so you don\u2019t necessarily need permission from them, right? Your software can see their user interface, can move the mouse, can click the buttons. You can do that in a repetitive way. Do you need to work with them? How does that work?<\/strong><\/p>\nYeah, we have a good relationship with Microsoft. I used to work for Microsoft, five years before starting this company. I even met Satya, and he is really an outstanding person. We gave him a demo of our product. To us, Microsoft getting into robotic process automation created more awareness. It was a good thing in a way. <\/p>\n
I think it\u2019s also clear to the markets where Microsoft plays in relation to the RPA right now. They have this tool called Power Automate, and because it\u2019s more API-based, they also acquired a small company out of Greece to do the computer vision part and combined it. But Microsoft is best when it comes to personal productivity.<\/p>\n
They can do really light, simple use cases with their approach to RPA. Particularly those where subject matter experts can do it themselves. This is where Microsoft plays. Now, going into enterprise automation \u2014 when you have to take an entire process like procure-to-pay and order-to-cash \u2014 this is not where we are seeing them. When we were seeing them, we always won in the enterprise automation market. At the same time, our cloud software is based on Azure. We have a very good relationship with the Azure side of Microsoft. So it\u2019s more of a coopetition between us and Microsoft.<\/p>\n
That\u2019s a great word. One of the issues with being in coopetition with the big players, especially Microsoft and Enterprise, is that you\u2019re Slack. One day Microsoft is going to say, \u201cWell, now Teams is free,\u201d and they are going to crush you out of the market until you have to sell yourself to Salesforce. Is that a thing they can do with Power Automate?<\/strong><\/p>\nCan they just bundle it into their product, or go to their consulting firm partners \u2014 I know UiPath sells a lot through the big consulting firms \u2014 and say, \u201cLook, we\u2019re going to start bundling these capabilities into everyone\u2019s Office suites. You can build your business with a tool that your customers already have.\u201d Is that a worry you have in that competition?<\/strong><\/p>\nThey\u2019ve done it already for two years now. They deliver a free version with Windows, but we are not seeing competitive pressures on what we\u2019re doing best. It is the medium to complex processes really getting the return on investment done. This is why this is a particularly different proposition than Slack. A good-enough product that you can deploy for everybody across the enterprise is not going to make a huge difference to any return on investment.<\/p>\n
\n
\u201cIf you order food and they give you a very nice steak, are you going to use the plastic forks they send with the food?\u201d<\/q><\/aside>\n<\/div>\nSlack is not a return on investment game. It\u2019s a different type of game. We are more a tool that customers are buying. I use this crude metaphor even with my sales people. \u201cIf you order food and they give you a very nice steak, are you going to use the plastic forks they send with the food?\u201d You get my point.<\/p>\n
I do. I have never heard anyone describe Microsoft Power Automate or Slack as plastic forks and knives before, but I appreciate the metaphor. Do you think the Salesforces and the Microsofts are the SAPs of the world? Outside of the business reasons, is there any technical reason that could prevent UiPath from operating? It doesn\u2019t seem like they can stop you from operating through computer vision and KVM, or operating the mouse and keyboard. Is there any risk that they might find a way to do it?<\/strong><\/p>\nI have seen attempts to stop customers from using this approach by charging higher licenses. I have seen all of this, but in the end, they have to do what is in the interest of the customers. For instance, we are pretty big in healthcare and there are a few ERP systems there, but they are not particularly pleased with the way that we read their screens. But when you have big customers like Cleveland Clinic and Mayo Clinic, and they say this is how we are doing it, what can you say? We\u2019re not competing. This is the situation with SAP as well and with Salesforce. There is only so much you can do within your system, and you have to recognize that there are very few companies that will base all their operations on one system.<\/p>\n
The moment you get out of one system, you need more of an independent player that is capable of operating equally well on all the systems. I want to also make sure that you understand. We started from the UI piece \u2014 from the user interface piece \u2014 using mouse and keyboard, but we equally have an API approach. Today, it\u2019s about combining and doing what\u2019s easiest and more reliable from both worlds.<\/p>\n
I will ask you this broad question, but I don\u2019t know how far back I want this history to go. I would say the history of depending on other people\u2019s APIs to build your business \u2014 outside of the operating system context \u2014 is not a history full of happy companies that thrive. You want to build on the Facebook API, your business is going to go away. You want to build on the Twitter API, your business is already gone. You want to build on Microsoft\u2019s API, they might be able to take that away from you. <\/strong><\/p>\nThe reason I have been asking about computer vision is because that is the thing they cannot take away from you. It seems like a more reliable place to live, rather than trusting that API access will persist, or be dependable, or not subject to business pressures that actually turn it into leverage over us.<\/strong><\/p>\nThis is a point that I never reflected on really. That is actually true, they cannot take this away because they have to make the software usable to human users. They need to have a human-readable interface. The moment you know how to operate this human-readable interface, you have absolute freedom. <\/p>\n
To us, what was the key? It was not necessarily that people are afraid of using APIs, I am not going this route. I am saying it\u2019s easier to build automation on top of human interfaces rather than APIs. APIs don\u2019t match in a one-to-one to what you see on the screen. To do an operation like creating a new opportunity, it\u2019s involved differently. It is kind of a complex business to understand the corresponding API, but anyone can understand the human interface. Just emulating how I do it\u2019s much easier and requires a lot less knowledge. <\/p>\n
We are way more cost-effective in implementing automation at scale because we reuse the workflow. With API, most of the time you have to change your existing operations. Every change requires intensive testing, reeducation of the people, and getting more project managers that understand. When I take the existing operation and replicate it one-to-one in software, I can use the same people with less volume of work. It is the only way you can get to the long tail of manual processes. This is where nobody can actually compete with us. <\/p>\n
Take Microsoft. If you have 1,000 processes, they can maybe automate 10%. I can show instantly that using us for 1,000 processes, the return on investment is much higher than 100. And even for those 100 processes, my tool is sharper and I cut way more slices of bread than with the plastic knife. Even if they pay you to do this, it\u2019s still not worth it.<\/p>\n
I\u2019m just excited to see the note that goes out inside these companies saying, \u201cPeople think our product is a plastic knife.\u201d On the computer vision piece, obviously you have to see the company\u2019s data and applications to operate it in that way. What are the privacy implications of that? Are you storing that data? You\u2019ve got to ingest it, right? Your robots \u2014 whether they are running locally or in the cloud \u2014 have to see the screen. How do you maintain the privacy of your customers and their data while you are doing all this work?<\/strong><\/p>\nWe praise ourselves for our flexibility of deployment. We can deploy our software completely as hosted on cloud, completely on premises of our customers, or even in a hybrid way where the robots work on the customer data center, but our orchestration piece is in our cloud. <\/p>\n
So if it\u2019s on premises, obviously there are no privacy implications. If it\u2019s on cloud, we have built a world-class cloud offering. One of the reasons why we established a presence in Bellevue, Washington, was to have access to the best cloud engineers out there. We have all the certifications required in the cloud. We are also in the process of being FedRAMP certified, which is a very difficult type of certification to acquire for a cloud company. Our cloud security is on par with the best cloud companies out there.<\/p>\n
Let me ask you about just automation generally now. One of the classic tech stories is that companies find product-market fit, grow really fast, become really big, and never take a beat to figure out the negative repercussions of what they are doing. How many TV shows are out right now about this? There is <\/strong>WeCrashed<\/strong><\/em> and <\/strong>Super Pumped<\/strong><\/em>. You can see it. <\/strong><\/p>\nAutomation has this huge potential to impact how everyone works. If you are listening to this and your job is using Excel in the same way every day, there is a real chance your boss is thinking about UiPath and getting rid of your job. How do you think about those negative downstream effects of automation, and about creating opportunities for people as opposed to just, \u201cthe robots are coming?\u201d<\/strong><\/p>\nI think the best way to answer this is to look at the realities of the labor market in the US today. We are assisting one of the highest ratios of number of jobs being published and number of hires ever. The pressure on the labor market is as high as possible. I would rather say that automation is one of the very few ways to release a bit of pressure on the market right now. <\/p>\n
One of our customers, a mid-tier investment bank company, told me that they had 40% attrition in one year. Forty percent. This is a bit unheard of, really. They are even thinking of bringing automation as a perk for their employees, to help them in their daily job, to attract and retain new talent.<\/p>\n
It is a secular shift where the new people that are coming into the market are not going to do the same type of repetitive, boring jobs that other generations have done. This is one of the reasons for this great resignation we are seeing today. I really see only positives by bringing automation into a company.<\/p>\n
I was listening to one of your earlier interviews where you said the pandemic was net neutral to UiPath. No loss, no growth. That is really surprising to me. One of the big work-from-home insights I think a lot of people just intuitively got the second they started working from home every day is, \u201cOh, my job is just using this laptop. Going to an office to use this laptop is stupid. I can use this laptop anywhere, since my job is just using this software.\u201d <\/strong><\/p>\nYou would think that insight combined with the great resignation would lead many companies to say, \u201cAll right, we are just going to automate a bunch of this laptop use. This is ridiculous, our employees don\u2019t even like doing this work. We have all this office space and they are just coming into the office to use these laptops. What are we doing?\u201d Why do you think it was net neutral, as opposed to what I would have assumed would be growth?<\/strong><\/p>\nThere have been industries that put a big pause on their operations in the beginning of COVID-19, like the travel industry, for sure, while we have seen an uptake in demand in other industries like healthcare and the public sector. We have been quite involved in helping hospitals, healthcare, insurance companies, and local governments in the US to send the claim benefits. It has been a lot of work in that time, but it was compensated by big reductions in retail and travel. This is one dimension of our revenue during COVID-19.<\/p>\n
The second dimension is if you look at the ratio of expansion in existing customers versus net new logos. Our expansion increased in existing customers, but we have seen pressure on net new logos. Companies were faced with more pressure on facilitating remote work during COVID-19. That survival was on the top of their mind. Automation is not a quick fix. It is not something you can do in a week. <\/p>\n
If you need 1,000 low-level data-entry jobs, it\u2019s going to take maybe a year to bring automation and fix 70% of the problem. It is a longer journey. This is why it was net neutral. The best proof for us is that at the end of 2020, our revenue hit our internal targets that we set for ourselves before COVID-19. Believe me, in the beginning, we went through a big scare because we thought we were going to hit half of that target, which would have been a disaster for us.<\/p>\n
I swore to myself that I would ask this question to every enterprise software CEO that ever came on the show. Do you use your own product?<\/strong><\/p>\n\n
\u201cI work as a CEO, but I also work as a product manager.\u201d<\/q><\/aside>\n<\/div>\nWell, I work as a CEO, but I also work as a product manager. I have many features in the product that I am supervising myself directly. Of course I am using it. I\u2019m a software engineer, Nilay, I used to write C code.<\/p>\n
Every time I file my expense reports, I think, \u201cI\u2019m going to ask that guy if he uses his own software.\u201d I swore that I would ask every enterprise software CEO if they use their own tools. <\/strong><\/p>\nYou have this huge market ahead of you, and you have all this change in the labor market. You are mentioning that a younger generation of workers might not want to do repetitive tasks. You\u2019re really global, and that is a lot of opportunity. I would be remiss though if I didn\u2019t ask this question.<\/strong><\/p>\nYou are from Romania, and the company was founded in Romania. Your last earnings call, about a month ago, you mentioned that the war in Ukraine is affecting the European market and that is something you have to deal with. I feel like your perspective on the war in Ukraine and that market is unique here. How is that affecting your company? We saw there were great Ukrainian startups all through that region. What do you think the impacts of this war will be on that market and on that growth? In particular, on all the people there who were building things?<\/strong><\/p>\nIt has a mathematical impact for us mostly because we have to write off our business in Russia. We have invested quite a bit in the region before this and it was one of the highest-growing regions, we were growing more than 100% year over year in Russia.<\/p>\n
Was that an easy decision or a hard decision for you?<\/strong><\/p>\nWell, I think relatively easy. We still have our Russian team there, and they are good people, but it\u2019s a very complicated situation going on there. Regardless, we had to write off the Russia business which created a lot of FX [foreign exchange] pressure on us. Being global helps a lot in good times, but in times like this \u2014 when the dollar is a safe currency \u2014 the exchange rate doesn\u2019t work in our favor. If you look at the euro to dollar, it\u2019s at one of the lowest points in history. Same with Japanese yen, and we have a significant material business in Japan, more than most software companies. It has had an impact on our business. <\/p>\n
The uncertainties in the markets about raising interest rates, or if the economy will slow down and go into a recession, make some of the big deals we are working on more fluid in terms of timing and size. It\u2019s a soft impact. It\u2019s not a big impact. We are not losing deals, we are just seeing some different parameters for them. For example, instead of a customer signing up for a three-year deal, maybe they just sign a one-year deal.<\/p>\n
For the entire region, we have a big base in Romania. It\u2019s a big development base and back office operations. I can tell you that there is a palpable feeling of insecurity despite the fact that Romania is a member of NATO. Attacking Romania would be like starting the third world war, for sure. Of course it affects your productivity; it affects your mental being. I have seen people that left the country \u2014 left Romania, not Ukraine \u2014 because they are afraid of a war. Countries will be closed and martial law will be declared. It is a very small scale, but that is the feeling. It seems that we are right now [preparing for] a very long war. The situation there is going to be prolonged for many months, I guess.<\/p>\n
I thought it was important to ask you because you do have that perspective there. We are out of time. This is how I end every interview, softball question. What is next for UiPath? What should people be looking for?<\/strong><\/p>\nWe are in the early innings of this great opportunity. We continue to invest and innovate into product. We are making our product more similar to how the human mind operates. One of our major initiatives is called semantic automation, which brings more knowledge into our robots. At the same time, we are bringing talent into the company, we are investing in go-to-market, and we are investing in customer success to support our customers. We will just continue on these fronts.<\/p>\n
All right, Daniel, thanks for being on <\/strong>Decoder<\/strong><\/em>.<\/strong><\/p>\nThank you so much. It was really great. Thank you.<\/p>\n\n<\/aside>\n<\/div>\nSource: https:\/\/www.theverge.com\/2022\/5\/10\/23064020\/uipath-ceo-daniel-dines-automation-rpa-great-resignation-ukraine<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Source: Daniel Dines is the founder and CEO of UiPath, one of the biggest automation companies around. UiPath sells software automation or what consultants call \u201crobotic process automation,\u201d or RPA, so they can sound fancy and charge higher fees. RPA is actually very simple to understand. Let\u2019s say you have something in your business that […]<\/p>\n","protected":false},"author":1,"featured_media":5477,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-5476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"yoast_head":"\n
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