Is UiPath still an AI bet?

$PATH is having some issues, with its CEO resigning.

Hey Everyone,

I want to talk about what is going on with UiPath, PATH 0.00%↑. I’ve been watching AI stocks at least since a couple of years before the pandemic. Now with Generative AI there’s this narrative that LLMs could make RPA obsolete, but is that even true?

Agentic AI, or even things like Voice-AI, has shown limited viability thus far ever after 2 years of LLM products. Robotic process automation is a form of business process automation that is based on software robots or artificial intelligence agents. RPA should not be confused with artificial intelligence as it is based on automotive technology following a predefined workflow. It is sometimes referred to as software robotics.

In the current narrative, everything from Homework tools to RPA will be disrupted. I’ve been watching CHGG 0.00%↑ ‘s stock go down and it’s a bit hard to believe. I understand that some students will be using ChatGPT. Still, Chegg, Inc., is an American education technology company based in Santa Clara, California that provides homework help, digital and physical textbook rentals, textbooks, online tutoring, and other student services.

UiPath was down 34% Yesterday

So this is 20 years later for this RPA startup, think about it, UiPath was founded in 2005 in Bucharest, Romania as DeskOver, by Romanian entrepreneurs Daniel Dines and Marius Tîrcă (both with IT backgrounds). Their initial idea was to create solutions that would help maximise business efficiency.

The Ukraine war actually materially impacted this business and their HQ is now in New York.

I’m not sure if UiPath is making the most of the Generative AI era either. It’s market cap is now below $7 Billion and the CEO switch doesn’t inspire confidence.