Pegasystems Inc Oppenheimer 29th Annual Technology, Internet & Communications Conference

Thanks for having me. Great.

Sure. Pega, to maybe hit at a reasonably high level, what Pega does is there's a lot of use cases that large companies have that tend to be either regulated or high internal control heavy, things where you need to execute work in a very deterministic, consistent, predictable way. There are not off-the-shelf, so to speak, or out-of-the-box type solutions for many of these use cases. Companies have a few options. They can write their own, which has always been an option. They could buy a platform like Pega or someone similar to Pega to be able to configure the actual workflow and the use case similar to what is an application that they may have been able to otherwise buy off the shelf.

But since these use cases are really specific to the industry, really specific to the company, and sometimes the company differentiates the workflow based on their own advantages, companies love to do that configuration on a platform like Pega. So, we've always competed with writing your own code. The challenge with writing your own code is that the application isn't predictable, it isn't sustainable, it has a massive change overhead. So what we've really been, our tagline has been build for change. It's not just that you can actually build the workflow on Pega, it's that Pega's built to be able to evolve the workflow in a way that's very business-friendly, that's very user interactive.

And now what we've done is we've inserted AI into the upfront design, into the actual build and maintain and evolve stage, so that you can really use AI when you're developing your app, when you're evolving your app, when you're modernizing your app. And we have AI in the actual workflow. So, when you're in a workflow step and you want to automate something, or you want to use an agent instead of using a human being, you're completely empowered to do that, either with our AI or by calling your own agents or through your own gateway. So, we've taken this concept of a platform to be able to build workflow-based applications and really evolve that into an agentic workflow experience where you're leveraging all the capabilities of AI, both in the design and, when needed, at the run.

Sorry, repeat the first part of your question. I didn't follow the first part of your question, sorry.

Got you. If you think about Let's pick a use case, like a loan origination for a bank. You're going to go in, and you're going to apply for a mortgage. The mortgage, the process for a bank might be different depending on if you're a wholesale bank or you're a retail bank or a mortgage originator. The process is never going to be exactly the same bank to bank, but it is going to involve a series of common steps. It's going to be a call to grab a credit rating, let's say. It's going to need some type of appraisal step, maybe. Some asset underwriting. But through that process, although there can be some variations, there are regulatory steps in there.