NOW Morgan Stanley TMT 2026

Hey, everybody. Keith Weiss from Morgan Stanley. I run the U.S. software equity research franchise, and super pleased to have from Service Now, Bill Mc Dermott, Chairman and CEO. Thank you.

Bill, thank you so much for joining us.

Thank you, Keith.. ke Inc,dn2vcsfsd.ARHKWHRnn KIRWv RD

So I would say there is no better time than right now to be talking to Bill Mc Dermott about what's going on in the software, right? Because the investors in this room had a high level of uncertainty. They don't have a clear view of what's going to go on with software broadly. They have a lot of concerns about the viability of Saa S vendors over time.

And you are, I would say, the best software salesperson that I've ever met. So nobody better to talk to us about the positioning of Service Now, the positioning of you as a trusted vendor of your customers and how AI is an opportunity for you versus a risk. So maybe we could start out there. And like when you think about Generative AI, you think about these innovations, what does it mean to Service Now in terms of your opportunity of what you can do for your end customer?

Sure. Thank you very much, Keith, and I appreciate the very kind words. I know, for example, you had Jensen today. I'd like to congratulate Ted and the Morgan Stanley team for really the conference of the century in terms of who you've had.

And of course, Satya as well. And I really do think this universal agentic network that Service Now has formed should come out in the conversation today because that's an example of 2 great companies, 2 great partners, and we're doing amazing things. Sever years ago, we started building models with Jensen. We have done some great work to make Service Now the AI control tower for business reinvention.

And so when you think about this universal agentic network, consider this, Service Now is connected to every node in the Fortune 2000. Every hyperscaler seamlessly integrates with Service Now. Every language model has been integrated and adopted by Service Now for the right industries. We can turn it on and turn it off based on industry and all the systems of record.

And then you say, well, what about the data. All this stuff produces massive data, plus you have data companies that are also very good companies like Snowflake and Databricks