1、EQUITY RESEARCHAugust 12,2025Takeaways from Ai4 2025:AI Demand Continues toAccelerate;Agentic is The FutureOur view:We attended Ai4 2025,a conference focused on AI for the business community,in-person inLas Vegas.The conference featured participants and sponsors from leading AI companies,such as Nvi

2、dia,Google,IBM,MongoDB,Oracle,and Nebius,as well as businesses/partners including EY,Deloitte,PWC,IBM,and Red Hat,among others.After attending sessions and speaking with partners,customers,and attendees,we offer our keytakeaways:Demand for GenAI continues to accelerate.Partners,customers,and compani

3、es we spokewith suggested that every company is having discussions about their AI strategy and how toleverage AI across their organizations.Beyond this,while our conversations suggest that manycompanies remain in the POV/POC phase as they work through use-case discovery,organizationsare increasingly

4、 deploying AI broadly across the enterprise,suggesting that companies recognize theneed to innovate and adopt AI in order to remain competitive.That said,we heard that customersare increasingly focused on validating the ROI before deploying agents broadly,and that mostcustomers are interested in ind

5、ustry/vertical specific agentic solutions that can handle tailored usecases.Early days,but Agentic is the future.Its clear to us coming out of the conference andour discussions with customers,partners,and leading AI companies,that the future of AI isagentic frameworks.Consistent with what weve writt

6、en previously,our discussions indicated thatcustomers remain in the POC phase when it comes to deploying agents,with most customerschoosing to deploy agents internally first,before phasing in customer-facing deployments.Further,we continue to hear that concerns around security/data privacy,governanc