How do you describe this sort of like equation of like AI does the reasoning, but AI doesn't have the will and the conscience to really do it the way that we do? Is that the argument for how we remain? I think

this is the crux of the issue.

And I'm so happy how you phrase it.

I think we independently got to this concept.

You called it the wisher.

I talk about a separation between will and intelligence.

If you look at the nature of will, even throughout the history of philosophy and even religions, they separated completely will from intelligence.

Who gets to apply the judgment?

Do you have too many?

It's a complicated question because I think I would answer more with the thing that is in my book.

I think the more we transform our companies using AI, we have to, in the same time, to transform our workforce.

I've never hidden from my employees that there will be a transformation in the company.

But I told them upfront, "Guys, we are not doing anything stupid.

We are not just using AI as a pretext to cut a part of the company.

We need to do the transformation in the same time as we successfully adopt AI in an enterprise." That's actually another point that I discovered writing this book.

Can I ask you, what have you changed your mind on most in the last twelve months?

And having that reliance is just not something that is going to be dependable in the future, regardless of how you look at it.

Yes, you point to a very important asymmetry in the diffusion of AI in enterprise right now.

AI is used very successfully in design time.

AI is not used as successfully during the execution of processes in enterprise.

So in design time, I can create the machinery that executes a process.

I can create the tools.

I can create the rails, as I call them, that are the foundation to execute the process.

How do you think that should run in practice so that juniors are maybe closer to where the call gets made?

So talk a little bit more with not doing what Andrade described, which is like being so paralyzed, like of taking action, even if it feels directionless.

I think first we need to acknowledge that I think everybody feels some sort of anxiety, me including, because we play in a very uncharted territory.

I think we don't know how our kids' career is going to look like.

And many of the people's reaction in times of uncertainty is to take a pause.

And let's see what's going to happen.

Even in some of our customers, we are seeing this.

So they might say, if AI in one year or two years will do everything, why should I do anything right now? I think it's the completely wrong approach.

Yeah, talk more about that.

Into an average.

Into an average.

They are an averager.

of everything, but it's very difficult for them to trace the consequences because they need to see the outcome of an action to compose, to understand it's good.

So they predict the next token, they predict the next action, but they cannot go and further imagine the consequences very well.

If you want to make AI successful, you need to create an engineered environment.

Where the actions don't have so big consequences.

So if you were to sort of place us, UiPath, and then place our customers in that moment, Where are we? Where are they? What road are we? Are we on the same road? Are we aimed at the same goals?

How are you building in AI agents into that?

AI agents are very complementary to our automation engine.

We specialize over the year in bringing rule-based automations and AI agents is bringing something that is much more closer to human intelligence.

We believe that the key aspect of bringing reliable AI to enterprises is to have a solid foundation of automation and then AI comes on the top of it.

And we connect basically using our orchestration technology, we connect AI agents with robots and humans.

Just explain how you kind of grow the business beyond your traditional customer base.

Well, first of all, within our traditional customer base, there is a lot of room for expansion.

And we are seeing tremendous opportunities in healthcare and financial services.

So how does all this speak to demand trends, if you look across the business, and I guess if you put that within context of the macro landscape right now?

Yeah, look, the macro continues to be dynamic.

This is basically our new normal.

We are seeing, as I said before, solid traction in financial services, healthcare.

We are seeing signs of good demand in the public sector as well.

So I think overall the environment is not particularly changed since last quarter.

We continue the momentum energetic and we are seeing like buying patterns with customers converting from POCs into pilots and putting some of the use cases into production.

How does this set UiPath up for 2026? And perhaps just as importantly, how do you see this AI ecosystem evolving further next year?

So can you give investors a sense of how that demand might be expanding? Because it might help justify in some people's minds, uh, whether or not this infrastructure build out has legs.

Well, while we are in the early innings of deployment of agentic AI, we see a very solid demand.

I can think that since the early days of RPA, I have not seen such a huge interest from customers in a renewed automation initiative interest.

I think many of them realize that in order to deploy AI, you need to have both the foundation in data.

And the combination, again, between AI and automation is extremely powerful.

Because many customers are asking themselves, how can I deploy this technology that is non-deterministic in a very reliable fashion? The answer is really put a great foundation of automation, and then on the top of it, you can add AI.

And that AI is going to drive the automation with humans in the loop, humans validating the AI.

As you do strike all of these partnerships, are companies ready to actually adopt and roll out this agentic AI? How big of an opportunity is that if they're not ready for UiPath?

Was there any impact to you, positive or negative, from that Doge activity?

Thank you for having me.

Look, we had a great event in DC a month ago, and we talked with a lot of agencies.

There is a renewed interest in agentic automation as a space.

We basically renewed our contract.

We have a great deal with the Air Force.

They are coming with a great initiative called Airmen, which is aiming at the very transformative of their business processes.

Even so, investors in particular love to see a commitment to access to compute and also just some like long-term commitment that the investment's worthwhile.

(laughs)

Sometimes people exaggerate with it, but in our case, it's really what happened.

Why? I was always trying to do what's best for this company.

This company is, in a way, my baby.

2025 is 20 years since I founded UiPath.

So I thought that, uh, if we can get the best, uh, talent in, uh, especially with the background in go-to-market, this is gonna help us.

Rob is a nice guy, we got along pretty well.

How do you merge those things together? How do you decide which system to use? Because that seems like the technology problem of the moment.

Just what was that like? And why have you decided to come back and resume the CEO reigns?

Look, it's been in the moment last year, you know, when we were seeing some really macro pressures on our numbers.

And my co-CEO, Rob, has decided to leave for personal reasons.

So at that point, I was not thinking I would step back soon or ever on this job.

So I had maybe a few months of...

Stepping aside a bit.

So I was doing mostly product and engineering.

no, it's not worth it and