[UPBEAT MUSIC] Welcome, welcome, welcome to Unite. This is so exciting. This is the event in which we unite all of our customers and all of our great channel partners with all of our leading product and engineering team members to make sure that we are collecting this group together. There's never been a better name for an event than Unite. So we are all here to unite against a common cause of stopping the hackers and the cyber criminals.
Now, I've got an interesting statistic to share. When you look at the Unite event done earlier this year in Madrid and combine it with this, there are over 1,000 cybersecurity professionals that have attended Unite events this year. It is one of the largest events in the identity management space. So give yourselves around of applause for that.
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I think it's important to do a quick level set on, particularly for those who are new to Unite, a little bit about what we've been doing in our spare time. So we're now very proud to boast that we have over 11,000 global customers running the One Identity products. We manage over half a billion identities.
We've got a philosophy that growth is critical. Growth is the engine of any vibrant business, but not at the expense of profitability. And I can report today that last year we set a record for profitability at One Identity.
So why is that so important? Well, that allows us to invest in innovation and in R&D and to support you, our customers and our partners. So profitability is paramount. It's critical.
We're also into a couple of years of the Unified Identity Platform. This is a groundbreaking solution we're going to talk about a little bit later and how this is really leading a lot of market trends.
We want to meet you, our customers, where you want to be met. Many of our competitors will impose a direction. But whether you are a cloud-first company, whether you require an on-premise because of regulatory requirements or other requirements, or a hybrid approach, we are committed to always delivering the solution that is best fit for you.
And we are constantly innovating. Earlier this year, we launched our PAM Essentials a light solution for privileged access management that deploys in days instead of in months and potentially years. And you're going to hear more and more innovations as we go through the whole week.
So why do we do what we do? Well, this is our mission statement, and we wake up every single day living these norms-- to protect and simplify access to digital identities, enabling a safer and more secure world. We are aligned with you and your objectives here. And we live this credo on a daily basis.
We're really proud of all of our customers and the successes that we've been able to enjoy together. But don't just listen to me. I always like to give some of the industry statistics. So let's go through a couple of these.
Forbes' list of their Global 2000 companies, 27 of the top 50 are One Identity customers. 10 out of the top 10 banks, One Identity customers. If you look at those companies with leading market capitalization, essentially the largest companies on the planet, six of the top 10 are our customers.
We're proud to call customers like Volkswagen, BMW, Hilton, Johnson & Johnson, Bank of America, JP Morgan. These are all, like you, One Identity customers. So we are so proud that you are part of the One Identity family.
Patrick put up some thoughts here. We asked the provocative question that you pick a side to the industry, to the market. Because if you're not working against the cybercriminals and hackers, well, heck, you're helping them. You're working for them. Just by your mere presence here, by your participation in the One Identity family, you've picked a side.
And it's not enough just to be acquiring cybersecurity solutions and identity management solutions. You've got to implement. You've got to rigorously train your team. I know I'm telling you things you know, but it's just paramount and critical. Because the hackers are out there, day in, day out, attempting to breach and get into your enterprises and agencies. So we thank you for being here and picking a side.
Now, we do a lot of thinking here at One Identity. And as we go through the week, we're going to be soliciting a lot of your feedback about where we need to go and what are the forefronts of your challenges and issues and needs.
But I'm going to go through a couple of predictions. The two predictions I want to go through today, the first is around artificial intelligence, and the second is around market consolidation. And I'm here to say that both of these predictions and areas and trends will have a big, big impact on each and every one of you in your daily business and daily lives.
Now, there's a lot of talk about artificial intelligence. There's a lot of hype. What does Gartner have to say? So Through 2025, generative AI will cause a spike in cybersecurity resources required to secure it by more than 15%. What does that mean? That means budgets. Just the defense mechanisms needed to thwart and back down those threats that are generative AI-based will have to go up.
A couple of other stats. the Boston Consulting Group, a large consulting organization, just in AI consulting activities alone last year, their revenues grew 20%. And this next one, it's just fascinating to me. KPMG went from zero AI-generated consulting services revenue a year ago to $650 million. So these consulting organizations and these analysts are preparing for this onslaught of AI needs and threats.
Was this news to us? Was this a surprise? Not really. Five years ago at this very event, at Unite, we made some prognostications, some predictions that artificial intelligence was going to play a central and defining role in cybersecurity. And we started building out our roadmap in a very methodical, mature, and safe way to leverage those things that are best with artificial intelligence.
So I ask the audience. With all the hype and all the talk about AI, is it a fad? Is it just a tool? Or is this, in fact-- and we've seen this before in industry-- an inflection point, a real springboard that can change the way that we conduct our daily lives?
Now, no discussion about AI and AI predictions would be worth a darn unless you had some scary robotic pictures. So we've all seen and heard the hype that AI and chat bots, they're going to take over our enterprise. They're going to terminate our employees. It's the end of humanity.
So don't just roll your eyes. There are some scare tactics out there. And if used irresponsibly, sure, there are challenges with AI. We're going to go through how we are going to employ this technology because it's going to be critical. So we believe it is an inflection point.
The bad guys have weaponized generative AI for all sorts of things. Let's just talk about deepfakes for a moment. So I'm going to guess that everybody here has either experienced a story or have seen a situation in which a deepfake was used-- impersonating, perhaps, the CEO of your enterprise to go down to somebody at a lower level to have an employee confidential file sent to them. Heck, just yesterday we got a phishing attempt with a bogus deepfake, that, of course, we thwarted.
But the bad guys, the threat actors, are leveraging generative AI, and they're getting better and better at these deepfakes. But the bottom line is generative AI is weaponizing the hackers, and it's going to get more and more challenging to defend against.
So is it a passing fad, or is it scary? Have we ever seen these inflection points before? I'm going to go two quick walks down memory lane. So go way back to the late 1800s, when Henry Ford first introduced the automobile. And everybody said this is scary. It's going to kill people on the streets. Why do we have to get rid of our horses?
Of course. Yeah, that was a silly inflection point. But look at the innovation over the course of many years. And I love the irony that in this really cool-looking Corvette is a 655-horsepower engine. So yeah, at the time, it wasn't maybe so obvious. Of course, now it's obvious.
Much like electricity, another inflection point way back when. The hype, the concern, the scare tactics were it's going to electrocute everybody. It's going to burn everybody's houses. So, of course, it was really the engine, the fuel, the engine of growth for the Industrial Revolution. So not the first time we've faced inflection points. Not the first time we've faced these scary innovations.
So what are we doing? Let's bring this together. We are leveraging in a very responsible and methodical manner AI and ML, machine learning, within identity intelligence for risk detection, privileged analytics, and intelligence, risk-based prevention, behavioral driven governance. We're doing all these today. KuppingerCole, one of the top industry analysts in the identity management space, has lauded our use of these really key technologies to innovate and to help you.
Our philosophy is we believe in three stages of AI development. First, leverage it to inform the end user to guide decision-making and then to augment decision-making. You're going to hear a lot from Brian Chappell, our Head of Global Product Strategy, later today on just how we're incorporating not just AI and ML but other leading technologies into our roadmap.
But most importantly-- and this is what's so great about events like Unite-- we're looking for your feedback. There's all sorts of feedback sessions. We want this to be interactive. So we want to gauge, are we going in the right direction? And we want to get feedback on your thoughts.
So a couple of things that are on our list, our roadmap list for the use of AI, a common risk engine, pattern recognition, interactive chat box-- recommendation engines that will do just that. They will augment our collective decision-making.
So closing out this first prediction on artificial intelligence, it will play a critical role in cybersecurity. But I have a pledge to each and every one of you. We will never allow your data to be leveraged with gen AI without your permission. So we will incorporate-- and Brian will talk about this a little bit-- opt-in and opt-out capabilities because there are organizations and agencies that have limitations on the use of AI. I'm convinced that in the days ahead, this will be a much more commonly accepted capability. But you have our pledged.
All right, second prediction, market consolidation. So why is market consolidation of importance? And how will it impact everybody in this audience? Well, let's see what Gartner has to say. This was a couple of years ago. They started seeing that the markets were coming together. The identity management markets were coming together from a siloed approach to a consolidated approach.
Why do markets consolidate? There's better economies of scale for you, the end users, for you, the customers. There's better integration, easier integration.
And I think the best way to tell the future about market consolidation is to look at other markets, maybe a non-identity management market, actually a market that I personally participated in. So if you'll indulge me for just a moment, and I'm going to date myself here.
Anybody out there know what SFA stands for? OK, so I've really dated myself-- sales force automation. So this is a different set of siloed markets that, way back when, I participated in, there were dozens of sales force automation companies-- Vantive, GoldMine, Aurum, YouCentric. I was one of the co-founders.
And right next to that was an adjacency, another market ripe for consolidation called marketing automation. And a lot of these companies, most of which are gone now. Why are they consolidated? Pardot, Eloqua, Unica.
And right next to them was another siloed approach called call center and customer support. Scopus, Chordiant, PEGA, Siebel, companies all gone. They were titans of the industry, all gone. They all consolidated.
Then there was one company that came up with a thing called customer relationship management that pulled everything all together. Because that's what market forces really mandated and enterprises and customers in the market mandated.
Well, these adjacencies, they shouldn't be siloed. They all should be one. And now you wouldn't think to get different solutions and cobble them together. Why would you do that? We already have it all consolidated.
Well now, let's move over to our space. And we have at minimum three, maybe four different silos in our market. Privileged access management, which is adjacent to identity management and governance, which is adjacent to access management, which is also adjacent to active directory management.
These are all solution sets that really are screaming for consolidation. That's what Gartner is saying. There are many private equity firms that are rolling up various competitors of ours, attempting to consolidate.
But One Identity, we are light years ahead of our competitors. We saw this many, many, many years ago. Well to start with, we were essentially the founders of privileged access management more than 15 years ago. We've been in identity governance for going on 30 years now.
So when you talk about deep domain expertise, I'd be hard pressed to find a company out there with deeper domain expertise. So we started bringing these different siloed approaches together many years ago.
We believe that the market is screaming for consolidation. And we also believe we're at the forefront. And there's a phrase about the competitive landscape. So we think that the finest form of flattery is imitation. And many of our competitors that had one of those silos are now introducing a second solution set. But if we've got 15 years in the privileged access management space and one of our competitors has 15 weeks, we think there's a little bit of an unfair advantage.
Quick question for those in the audience who has one of our four key solution sets? Show of hands. Well, every hand should go up. It's a user conference. You must have one of our products. All right. 100%, I'm going to say. But who has more than one. Show of hands. All right, about 15%, 20%
So I've got a challenge for everybody in the audience. If you have our Safeguard privileged access management solution, learn a little bit about our active roles, active directory management this week. If you've got our identity governance solution, learn a little bit about OneLogin, our access management solution.
And I can assure you, this is going to be a trend. Deeper and richer integration of our unified identity platform will be a trend. All right, I'm in the home stretch now. And I'm going to check with everybody at the end of the week and see if you've actually learned a little bit about one of these adjacencies.
We have one of the greatest channels programs in the identity management marketplace. We're considered a leader because the channel underpins everything we do. So we love to go to market with our partners. Why? Because they extend our reach and our capabilities. They bring together the whole suite of solutions, some of which are identity-based and some of which are outside of strict identity management.
So our channel partners are essential to us. Many of them are here today. And I just want to give you a quick round of applause. Thank you for being here today.
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And to our sponsors. Now, time doesn't permit me to go through each and every sponsor, but I'd like to thank each and every one of you. You make events like this possible. And I encourage all of our customers to reach out and meet our channel partners. Many of them you'll hear from over the next couple of days. And these are world-class organizations that fill in all of the needs of cybersecurity excellence.
So I'm in the home stretch now. I want to thank you for picking a side. Thank you for being here and taking time out of your incredibly busy schedules to be with us. Thank you for sharing your ideas and helping us to further build out our roadmaps and our next generation innovation.
Thank you for being a reference. Thank you for filling out the Gartner peer insights. These are critical to making us a continued strong and vibrant and growing organization. It's really exciting to be here with you.
Thank you for selling out this event. We appreciate all of your time and efforts. I'm closing out. Thank you very much for everything. Have a great week at Unite. Hit the video.
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