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Workday CEO: AI Giants Run on Our Software
25 Feb
Summary
- CEO Bhusri stated leading AI firms use Workday's products.
- Workday software handles payroll and employee management tasks.
- Despite claims, Workday shares fell 9% after earnings call.
Workday CEO Aneel Bhusri has asserted that leading artificial intelligence companies, including Anthropic, Google, and OpenAI, are significant users of his company's software. Bhusri made these remarks on Tuesday during a call with analysts, addressing investor fears that AI advancements could disrupt the enterprise software sector. Workday specializes in software for essential business functions like payroll and employee management.
Bhusri, who recently returned as CEO, stressed that these are fundamental "systems of record" demanding extreme transactional accuracy and speed, alongside robust security and global regulatory compliance. He argued that generative AI, or "vibe coding," cannot replace the intricate functionalities of an HR or ERP system. Despite these strong defenses of Workday's relevance in the AI era, the company's shares dropped 9% in extended trading immediately after the earnings announcement.
The company's stock has seen a substantial decline of approximately 40% this year, reflecting broader market anxieties affecting similar software providers like Salesforce. Bhusri's efforts are aimed at reassuring stakeholders that Workday's foundational business software remains critical and resilient against AI-driven disruption.
