Okta Warns of Rising AI Threats

Bloomberg

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00:00I think about the world as layered into different critical services.

00:04Cloud infrastructure is one critical service.

00:07And as the lean, independent, neutral identity company,

00:09we're building this identity service for the entire world,

00:13whether that's enterprises, whether that's consumers,

00:15whether that's people building AI agents.

00:17We want to be that identity infrastructure.

00:20It's important for cybersecurity, it's important for business continuity,

00:23and it has to be reliable.

00:24So how do you make sure that it's reliable then?

00:26A lot of redundancy and a lot of focus and a lot of making sure

00:30we do exactly what customers expect, whether it's backups, redundancy,

00:34and monitoring it continuously, it's very important for us.

00:37Now, you are growing very, very substantially.

00:40You have 800 people in San Francisco and how many thousand around the world?

00:436,000 global employees doing a great job for our customers every day.

00:46Well, love to hear it and how I hope they are.

00:48How fast are you adding customers and what's your pitch

00:52versus another identity security company?

00:54Yeah, it's an interesting perspective we have,

00:58and there's different perspectives on some vendors want to sell you

01:01everything across the entire application and platform stack.

01:05Some vendors want to sell you everything across cybersecurity.

01:08We focus on identity, and we focus on verifying who the people are in your company,

01:14who the people are coming to your website as customers or prospects.

01:17And now, really, with AI agents, we make sure that that identity service

01:21is continuous across everything you're trying to automate in your business with AI, too.

01:26And that's our focus.

01:27And beyond that, we focus on connecting to everything else in the technology stack

01:30and letting our customers choose what they want to use.

01:32What is the scale of AI agents Okta expects in the next 12 months?

01:37It's starting out very strong, but it's going to be growing significantly.

01:42When you think about what companies can automate with these AI agents,

01:45how they can improve their top-line revenue, how they can cut costs,

01:50how they can be more efficient, how they can serve their customers better,

01:53it's got tremendous potential.

01:55What about your exposure to ChatGPT user growth?

01:59How much of that do you have, and how is it changing how you do business?

02:02Well, I think ChatGPT is the perfect example of how much can be automated with AI.

02:08And when every company looks at that, they think,

02:10hey, we can make our customer experience better with adding ChatGPT-like capabilities.

02:15We can make our employees more productive.

02:17So it's really driving them to deploy more AI technology,

02:23and that means more identity is required.

02:25Those connections have to be secure.

02:26Those connections have to be reliable.

02:28So it's really an exciting time for the industry.

02:30Is it still in the land-grab phase?

02:33And if that's the case, which I think it is,

02:35then how do you make sure that you're the one doing the grabbing?

02:38Well, I think it's really important that everyone understands

02:40how important identity management is to rolling out AI and AI agents.

02:46I mean, they only need one person to manage their identity, right?

02:48Well, it's important that the identity service connects to everything.

02:52It connects to every application in the back end, every development platform.

02:56One of the things about AI agents particularly

02:57is how you build these things is changing very rapidly.

03:01So we give our customers the ability to make sure they have security,

03:05governance, and visibility,

03:06and then let them choose the rapidly evolving platforms behind the scenes

03:10to whatever fits their needs.

03:12That's really core to everything we do, that choice and that flexibility.

03:14What did the Google Whiz Palo Alto CyberArk deal mean for you?

03:19Well, it's a different worldview.

03:21I think companies try to consolidate around everything in cyber.

03:26We think that that's not the right approach.

03:28We think the right approach is to consolidate on identity

03:30because it preserves the choice of other cyber tools for customers.

03:35They're not locked into one endpoint tool or one network security tool.

03:38They can choose whatever is best for their business

03:40and will keep them more secure,

03:41especially as the threat environment is rapidly evolving.

03:44The ability to choose the best cyber tool

03:47and not be locked into a stack from one monolithic vendor is very powerful,

03:51and it's resonating with our customers.

03:53They cut costs and standardize their identity workflows

03:56and use cases around Okta

03:58and then choose everything else around the rest of cyber

04:01to best fit their needs.

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