WalkMe Doubles Down on AI Innovation, Releases Enhancements to Award-Winning Copilot, WalkMe(X)

Rhea-AI Summary

WalkMe (NASDAQ: WKME) has announced new capabilities in its Summer '24 product release, focusing on AI innovation. The company's WalkMeX, a context-aware copilot for cross-application workflows, has received four industry awards for AI innovation. New features include tools for building copilot experiences and on-demand AI chat for task automation.

WalkMeX combines general-purpose LLMs with WalkMe's proprietary DeepUI technology to provide context-aware assistance across the digital workplace. The Summer '24 release also includes enhancements to Workflow solutions, a New Content Manager for digital adoption content, and improvements to WalkMe Insights analytics.

Positive

• WalkMeX received four industry awards for AI innovation
• New capabilities added to WalkMeX, including tools for building copilot experiences and on-demand AI chat
• WalkMeX combines general-purpose LLMs with proprietary DeepUI technology for context-aware assistance
• Enhancements to Workflow solutions with 20 business domains and over 1200 predefined Accelerators
• Introduction of New Content Manager for improved digital adoption content management
• Improvements to WalkMe Insights analytics portfolio

Negative

• None.

Insights

Tech Expert

WalkMe's latest enhancements to its AI-powered Copilot, WalkMe(X), represent a significant leap in digital adoption technology. The integration of Large Language Models (LLMs) with WalkMe's proprietary DeepUI technology creates a unique context-aware AI assistant that works across multiple applications. This innovation addresses a critical pain point in enterprise software adoption, potentially reducing training costs and improving productivity.

The application-agnostic nature of WalkMe(X) is particularly noteworthy, as it allows for seamless integration across diverse software ecosystems. This could be a game-changer for large enterprises with complex tech stacks. However, the true test will be in its real-world performance and ability to adapt to varied enterprise environments.

While the awards received are impressive, investors should focus more on user adoption rates and revenue impact in the coming quarters to gauge the true market reception of this technology.

Market Research Analyst

WalkMe's strategic focus on AI-driven solutions aligns with the growing demand for efficient digital adoption tools in the enterprise sector. The global digital adoption platform market is projected to grow significantly and WalkMe's innovations position it well to capture a larger market share.

The introduction of 20 business domains and over 1200 predefined Accelerators indicates a strong push towards industry-specific solutions, which could enhance WalkMe's appeal to a broader range of enterprises. This tailored approach may lead to higher customer retention rates and increased average contract values.

However, investors should monitor competitive pressures in the AI space, as many tech giants are also developing similar AI assistants. WalkMe's success will depend on its ability to maintain its technological edge and effectively communicate its unique value proposition to potential clients.

Newly launched WalkMe^X receives four industry awards for artificial intelligence

SAN FRANCISCO, Aug. 19, 2024 (GLOBE NEWSWIRE) -- WalkMe (NASDAQ: WKME), a leading provider of digital adoption solutions for effectively navigating technology change, today announced new capabilities as part of its Summer ‘24 product release and recent industry recognition for AI innovation. Many of these new capabilities are part of WalkMe^X, the world's first and only copilot with the context to meet every user with the next best action for any workflow, across any application with both proactive and on-demand AI assistance.

New WalkMe^X innovations include tools for building powerful copilot experiences that deliver always-on AI assistance to users directly in their flow of work and on-demand AI chat for conversational search and task automation. Since its launch in June, WalkMe^X has emerged as a differentiated copilot offering for its application-agnostic, context-aware AI assistance.

WalkMe^X has been recognized for its AI innovation with several prestigious awards, notably outshining the competition of more than 1,700 submissions for the Globee Technology Awards this year. Recent awards include:

• Two Silver Globee Technology Awards for "Best Product, Service, or Innovation in Artificial Intelligence" and "Hot Technologies in Artificial Intelligence & Machine Learning"
• AI Breakthrough Awards' AI Chatbot Innovation of the Year Award
• Remote Tech Breakthrough Awards' Remote Work Tech Innovation of the Year

“The combination of general-purpose LLMs with our proprietary DeepUI technology gives WalkMe^X the ability to understand context across the digital workplace and what people are trying to do on the screen,” said Moran Shemer, EVP R&D, WalkMe. “WalkMe^X is unique in its ability to function seamlessly across all applications, provide always-on AI assistance, and eliminate the need for users to figure out how and when to prompt. Building on WalkMe’s core Digital Adoption Platform (DAP) capabilities, WalkMe^X allows organizations to create tailored copilot experiences that seamlessly integrate with their unique workflows and specific needs,” said Ron Zohar, EVP R&D, WalkMe.

Other highlights from WalkMe’s Summer '24 product release include:

• Enhancements to WalkMe’s Workflow solutions with 20 business domains and over 1200 predefined Accelerators for over 300 workflows designed to speed up technology time-to-value and ROI.
• The New Content Manager is a one-stop shop for admins to manage their digital adoption content, combining customized views, advanced filtering, collaboration tools, and project management capabilities. This powers digital adoption at scale and better decision making as teams share visibility on initiatives across the enterprise.
• Enhancements to WalkMe’s portfolio of analytics solutions, WalkMe Insights includes extended visibility into how DAP content is performing, and custom dashboards and widgets that can be easily self-configured to the needs of every customer.

Learn more about WalkMe^X here.

About WalkMe
WalkMe (WKME) pioneered the world’s leading Digital Adoption Platform, enabling organizations to navigate the change brought on by technology. Leveraging over a decade of experience, WalkMe’s platform integrates generative AI to deliver proactive, accessible, and actionable insights. Our context-aware solutions guide users through any workflow, identifying and resolving digital friction to ensure seamless execution of critical processes across all departments. Trusted by global leaders like IBM, Nestlé, ThermoFisher Scientific, and the U.S. Department of Defense, WalkMe empowers organizations to maximize software ROI and drive people-centric digital transformation. For more information, please visit our website at: www.walkme.com

Special Note Regarding Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial results, including revenue and non-GAAP operating loss guidance, and expectations regarding the company’s operations and future profitability are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: our ability to manage our growth effectively, sustain our historical growth rate in the future or achieve or maintain profitability; the impact of adverse macro-economic changes on our business, financial condition and results of operations; the growth and expansion of the markets for our offerings and our ability to adapt and respond effectively to evolving market conditions; our estimates of, and future expectations regarding, our market opportunity; our ability to keep pace with technological and competitive developments and develop or otherwise introduce new products and solutions and enhancements to our existing offerings; our ability to maintain the interoperability of our offerings across devices, operating systems and third-party applications and to maintain and expand our relationships with third-party technology partners; the effects of increased competition in our target markets and our ability to compete effectively; our ability to attract and retain new customers and to expand within our existing customer base; the success of our sales and marketing operations, including our ability to realize efficiencies and reduce customer acquisition costs; our ability to meet the service-level commitments under our customer agreements and the effects on our business if we are unable to do so; our relationships with, and dependence on, various third-party service providers; our ability to maintain and enhance awareness of our brand; our ability to offer high quality customer support; our ability to effectively develop and expand our marketing and sales capabilities; our ability to maintain the sales prices of our offerings and the effects of pricing fluctuations; the sustainability of, and fluctuations in, our gross margin; risks related to our international operations and our ability to expand our international business operations; the effects of currency exchange rate fluctuations on our results of operations; challenges and risks related to our sales to government entities; our ability to consummate acquisitions at our historical rate and at acceptable prices, to enter into other strategic transactions and relationships, and to manage the risks related to these transactions and arrangements; our ability to protect our proprietary technology, or to obtain, maintain, protect and enforce sufficiently broad intellectual property rights therein; our ability to maintain the security and availability of our platform, products and solutions; our ability to comply with current and future legislation and governmental regulations to which we are subject or may become subject in the future; changes in applicable tax law, the stability of effective tax rates and adverse outcomes resulting from examination of our income or other tax returns; risks related to political, economic and security conditions in Israel; the effects of unfavorable conditions in our industry or the global economy or reductions in information technology spending; factors that may affect the future trading prices of our ordinary shares; and other risk factors set forth in the section titled “Risk Factors” in our Annual Report on form 20-F filed with the Securities and Exchange Commission on March 14, 2023, and other documents filed with or furnished to the SEC. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Media Contact:
Melanie Pasch
press@walkme.com

Investor Contact:
John Streppa
investors@walkme.com

FAQ

What new features did WalkMe (WKME) announce in its Summer '24 product release?

WalkMe announced new capabilities for WalkMeX, including tools for building copilot experiences and on-demand AI chat for conversational search and task automation. They also introduced enhancements to Workflow solutions, a New Content Manager, and improvements to WalkMe Insights analytics.

How many awards did WalkMe's (WKME) WalkMeX receive for AI innovation?

WalkMe's WalkMeX received four industry awards for AI innovation, including two Silver Globee Technology Awards, an AI Breakthrough Award, and a Remote Tech Breakthrough Award.

What technology does WalkMe (WKME) use in WalkMeX for context-aware assistance?

WalkMe's WalkMeX combines general-purpose LLMs (Large Language Models) with their proprietary DeepUI technology to provide context-aware assistance across the digital workplace.

What is the New Content Manager introduced by WalkMe (WKME) in the Summer '24 release?

The New Content Manager is a one-stop shop for admins to manage digital adoption content, combining customized views, advanced filtering, collaboration tools, and project management capabilities. It aims to power digital adoption at scale and improve decision-making across the enterprise.