Workday faces growth threat as customers use Anthropic, Microsoft agents

Key Takeaways

• External AI agents powered by Anthropic and Microsoft can access Workday's data, raising concerns about disintermediation.
• Workday's own AI agents, rebranded as Sana, contribute to the company's growth but may not be enough to counter the threat.
• Workday has responded by governing external agents through its Agent System of Record (ASOR) and Agent Gateway.

Market & Token Impact

• The rise of external AI agents could disrupt Workday's business model and impact its revenue.
• Workday's AI SKUs contribute to its growth, but the company's ability to govern external agents is crucial to its long-term success.
• The development of external AI agents could also impact the broader market, as companies may choose to use external agents over Workday's own AI products.

Broader Context & What's Next

• The growth threat posed by external AI agents highlights the need for companies to adapt to changing market conditions.
• Workday's response to the threat, through its ASOR and Agent Gateway, demonstrates the company's commitment to governing external agents.
• The development of external AI agents could also lead to increased competition in the market, as companies seek to develop their own AI solutions.
• It remains to be seen how Workday will price external agent access and whether growth in Sana adoption will hold its pace as Anthropic and Microsoft tools spread.