Unknown Analyst
Thanks very much for coming. I was looking forward for this session today because Miguel and I had a terrific discussion after the company reported numbers. He’s convinced I’m wrong with my rating, and he’s going to prove me wrong. And I’m very open for the challenge.
So as you know, I’m new to cover software being covering cybersecurity for 20 years and networking for 30 years. And I always say that lately, I’m the garbage person at Bank of America, garbage not from a person of quality, meaning everything — every time someone leaves, they tell me, okay, you cover it. So I cover everything else basically. That’s going to change soon, but software is my focus, networking is my focus.
And I want to start with a few things before we start — I want to start with outlining the background for the discussion. We have 30 minutes to discuss and we’re going to talk strategy. We’re not going to talk about the quarter. I don’t care about the quarter. I talk about — I care about where is this company positioned for the next 10 years.
Salesforce today is a much bigger company than it was 7 years ago. And the growth decelerated. The growth in the last quarter with professional services, 7%, 7.1%, without 7.7%. It used to be 30%. It used to be 20%. And that’s before AI. We’re not talking about AI. AI might be a tailwind, might be a headwind, right? So what I want to understand is the reasons for the deceleration, the risks that we see in AI, the opportunities that we see in AI, and how the company is positioned to basically address the opportunities because
