IT House News on February 25, according to Bloomberg, Aneel Bhusri, CEO of Workday, an American financial management and human capital management software company, said that leading artificial intelligence companies such as Anthropic, which investors fear will disrupt the software industry, are actually using his company's products.
"To be honest, Anthropic, Google and OpenAI are all using Workday's systems," Bhusri said in a conference call with analysts on Tuesday local time.
According to IT House, Workday mainly develops office software such as payroll accounting and employee management. Investors are increasingly concerned that artificial intelligence tools will simplify such tasks, thereby eliminating demand for related products. Workday's stock price has plummeted by about 40% this year, and the stock prices of peer companies such as Salesforce have also experienced similar declines.
Workday co-founder Bhusri returned as CEO earlier this month. He stepped down as co-CEO in 2024 but continues to serve as chairman. In a conference call after the company released its earnings report on Tuesday, Bhusri spent a lot of time explaining why Workday's software still has irreplaceable value in the era of artificial intelligence.
"These are truly core systems of record that must process transactions with absolute precision and speed, enforce complex security models, and comply with laws and regulations around the world," he said. "No amount of atmospheric coding can produce a human resource management system or an enterprise resource planning (ERP) system." ERP refers to enterprise resource planning software that consolidates multiple underlying business processes into a single system.
Still, Workday shares fell 9% in after-hours trading.
