Everyone, and thank you for joining us today. Those that don't know me, I'm Dennis Walsh, Udemy's Vice President of investor relations. Today's webinar is part of Udemy's IR Access Initiative, in which we provide deeper insights into the business through multiple online channels. If you haven't done so already, you can sign up for IR Access email alerts on our investor relations website to keep you notified of new blog posts and events. On today's webinar, we are very excited to introduce Udemy's Chief Product Officer, Prasad Raje. Later, Prasad will provide a demonstration of Udemy's Intelligent Skills Platform, including a preview of the generative AI capabilities we expect to launch soon. After the demonstration, we will leave time for Q&A. Just like our other calls, we may make forward-looking statements within the meaning of federal securities laws. Our risks are outlined in our filings with the SEC, which can be found on our IR website at investors.udemy.com. With that, let's get started. Thanks for joining us today, Prasad. I'm so happy to be here, Dennis. Awesome. Well, last August, we were thrilled to welcome you to join Udemy's team as our first-ever Chief Product Officer. Since this is the first time that many of our investors and analysts are getting to meet you, could you spend a few minutes talking about your background and experience prior to joining Udemy? Of course. I've been in the SaaS business for the last 25 years, ever since there's been a SaaS business. One of my first companies was Instantis. That was a platform-as-a-service company that pivoted to be a SaaS company, and that was eventually acquired by Oracle. Subsequent to that, I was VP of Product Strategy at Oracle. And subsequent to that, I was at RingCentral, where I led our UCaaS product strategy and product execution. RingCentral went from $700 million to $1.5 billion during the time I was there. Subsequent to that, I was at Outreach, which was also an enterprise sales platform, where I led the transformation of that platform to an enterprise sales AI-driven offering. So that brings me to Udemy. That's a really impressive background, and we're certainly very lucky to have you on our team. So next, I really think it would be helpful for this audience if you could share a little bit about what attracted you to joining Udemy. Well, three things. Number 1, it's the mission. The mission of Udemy is inspiring, transforming lives through learning. That is an absolutely high calling. Secondly, Udemy has a unique business model, a marketplace, an e-commerce engine that then throws off enormous and phenomenal content that powers our Udemy Business offering as a SaaS offering. So this coupled e-commerce and SaaS offering is unique in the industry. That was very attractive. And finally, Udemy is sitting on an incredible amount of content, and GenAI is all about content. For me, those two things brought together create an incredible amount of opportunity for us from a product standpoint going forward. That's awesome. And so earlier this year, Udemy announced its generative AI roadmap with some really exciting capabilities that you and the team have been working on, which are really going to be game-changing for organizations, professional learners, and instructors. Also, many of the folks watching today really haven't had the opportunity to see Udemy's Intelligent Skills Platform in action, to truly understand the value and impact that it provides for Udemy Business customers. So with all of that in mind, I'm going to turn the floor over to you now. So you provide a demonstration of the platform and a preview of those generative AI capabilities to better illustrate just how impactful this will be for our customers, learners, and partners. Happy to do that, Dennis. Let's do it. So before we talk about the intelligent skills platform, let me show you the journey that Udemy has been on. Udemy started off as a consumer marketplace with a phenomenal course catalog, which drove an e-commerce engine and generated consumer revenue. And then we added the business catalog, a curated catalog that we offered to businesses as a SaaS offering, which added to our UB product line and added our dramatic revenue growth on the UB product line. We stand now at the cusp of a dramatic transformation. There are two major wins in the industry, and this is skills and GenAI. Skills and GenAI are driving our transformation to an intelligent skills platform because, A, our customers are demanding upskilling at an unprecedented rate, and B, because GenAI is here that's driving that skills transformation even more urgently, and because GenAI is a technology transformer that's changing the technology landscapes of all SaaS offerings and certainly ours as well. So let's get into it. This is what the intelligent skills platform looks like in detail. At the core of it is our marketplace, consisting of 220,000 courses, 75,000 instructors, a dramatic rate of change of this content, and a responsiveness to new technology drivers that combine the marketplace. For example, when GenAI came about, we had the first emergence of new content in our marketplace of any other competitor. Now, we have the Udemy Business catalog that sits on top of this marketplace, that we take a subset of the top courses and make available to our Udemy Business customers. The catalog is just the beginning. On top of that core content is a set of capabilities that we describe in these five spokes. Let me walk you through them. Number one is learning modalities. By that, I mean the set of capabilities we bring to the customer in how their learner actually consumes our content. We have our offering today in terms of our asynchronous video consumption of content, and we're going to augment this with GenAI, as you're going to hear about very shortly. Second is interactive learning. In addition to all the video content we have, we have an extensive array of practice tests, quizzes, and a lot of interactive components that really engage the learner in the learning journey that enhances and improves their pace of learning and the quality of their learning. So all that capability is in that second spoke. The third spoke is learning guidance. Learning guidance has to do with providing a pathway through our enormous set of content for our customers that is curated, guided, and that brings them these relevant outcomes that they're seeking. Next is validation. Validation is the area of the product where we confirm that the learner has the skills they were intended to get. For example, we provide a series of assessments that provide a measurement of how much skill that the learner has acquired. We also provide extensive capabilities for our learners to upload third-party certificates that they have acquired in other contexts into our platform. Finally, there's Insights. Insights has to do with informing the Chief Learning Officer an aggregate view of what upskilling is occurring in their entire population, as well as for learners to know what they have consumed and where they are in their learning journey. All these capabilities add up to a set of functionality that we provide to our customers, especially to our UB customers, that add value on top of the content of our platform. GenAI is infused as a capability set across multiple different spokes that you see here. We're going to touch upon this later on in this presentation. Finally, we have integrations. Integrations are a mechanism by which the capabilities of our platform are made available to other IT systems that our customers have deployed in this context. These might be HRIS systems, learning management systems, learning guidance, learning experience systems, and so on. So as a whole, our offering, the purple magic here in the center of Udemy, is in service of receiving their skills needs from organizations and delivering business outcomes in the form of transformed skills for their organizations so that organizations can execute their talent management strategies with this skills focus. And we deliver terrific outcomes for learners themselves in the form of upskilling that they have achieved in order to transform them to their next level of their career journeys. So you step back a little. This is a complicated diagram. What this is really telling you is that Udemy is in the business of taking skills from state A to state B, of taking your existing state of skills, performing effective, targeted, efficient upskilling of your population, and delivering compelling business outcomes as a result of that upskilling. With that, let's get started. Launch your team into the future faster with Udemy and AI. Let's say your team needs to learn data science to forecast trends and fuel growth. Just tell Udemy. Chat with our AI to refine your request. Through a guided conversation, it'll create dynamic skill trees and customize learning paths for your team based on their unique needs. Combining its deep knowledge of our content with your specific skills needs, Udemy AI delivers highly detailed skills trees with clear learning outcomes. In minutes, you can create personalized learning programs with the right content from the right courses for the right people. Let's say you want to communicate better to executives, but your time is limited. Just ask Udemy. Our AI knows every word of every lesson in every course in our up-to-date catalog. It'll connect you to the specific courses you'll need to develop your skills, even when you're short on time. Imagine a person on your team is taking a Python course, but they're struggling with a concept. Udemy's got them. Our AI has deep knowledge of the course topic, and it can tailor an answer to their needs. Now your team can get answers to questions in real time and keep learning confidently. At Udemy, growth happens when your team learns from our global community of world-class instructors. With our AI, you develop your team's skills and get your people ready for whatever tomorrow brings. Launch your team into the future faster with Udemy and AI. So what you saw there was a preview of the generative AI capability we're building on our platform. What I want to do now is actually walk you through a demonstration of our existing platform as currently experienced by our customers. And then we will intersperse during this demonstration how our generative AI capabilities are going to transform the experience. I'm joined here for that purpose by Gary Hickey. Gary is our manager of our sales engineering team. And he's going to walk through the product with me and show you all the wonderful capabilities along those five spokes that I described and the detailed functionality in each of those spokes. Gary, welcome. Thank you, Prasad. Hello, everyone. My name is Gary Hickey. I have the pleasure of showing you the Intelligent Skills Platform in our product today. So first of all, I'm going to show this flow where we're going to set some occupation skills and interests. We're going to look at a Udemy Business course, talk about the Udemy Learning Assistant, outsized learning, and also Learning Communities. So I'm going to jump into the product now. So this is the Udemy Business home screen. So whether you are a returning user, Udemy will encourage you to pick up where you left off, jump straight back into learning. Or if you are a first-time learner, you will come to the platform and you will maybe not see as much information, but Udemy will encourage you to add your occupation and interests as you can see here. While we are immensely proud of our vast catalog collection, we also know it's important to focus the user to see the right content at the right time and what is relevant to them. So we ask the user to give us a little bit about them so that we can show them the right content using the power of Udemy's recommendation engine. So once I add some occupation and interests, I'll be asked a series of questions. So what field am I in, for example? I'll be asked, what am I interested in? Maybe web development, as I am an engineer. And also now some skills. So perhaps I want to focus on web development as a skill. And maybe I want to look at some React.js as a software library. Maybe these are something that I'm interested in right now today. Once I do that, I'll also be asked, what certifications am I interested in learning today and how can Udemy help me achieve that certification or badge? In this example, I would click the Amazon Web Services Certified Cloud Practitioner. And I will now submit this. Now, what happens is Udemy's recommendation goes off, and it comes back to your home screen with a much more personalized look and feel. So now I'm starting to see content relevant to what I am interested in. So for example, we'll see lectures on React.js. We'll see assessments relevant to what I want to learn. And also now we will see some things on web development. But now perhaps I want to also search for courses. We can come up here and we can type in web development as an example. And now we're brought into a much more detailed search. Let's select one of these. In this example, I'm going to select the 2024 Web Development Bootcamp. Now you're brought to an overview of this course. We can see that over 1.2 million students have taken this course. We can see that this course has a rating of 4.7 with over 365,000 reviews. It was last updated in March of this year, again showing the power of our marketplace model, showing our reactivity to change, and showing the freshness of our content. Once I do this, I can see some outcomes. What will I learn by taking this course? What is the actual breakdown of this course content? Once I am satisfied that this is the right course for me, I can enroll. Now I'm brought to the first or the main modality of learning in Udemy Business, our course content or our video content. Again, we can start playing the course. In this, we see the course content playing screen. On the right, we get a breakdown of each section so we can see the various sections of this course. Across the bottom, we'll see some features that we can interact with. First of all, we see the overview. Then we can also see the Q&A. Again, one of our differentiating factors and very important to us is our instructor-to-user relationship. The fact that our users are able to interactively engage with our instructors is very important. Again, we can leave some notes. We can see some announcements by the instructor as content may change. It is important that our instructors can engage with our users. Again, we can see some reviews. Again, also, we can add some learning tools. We can say, add a calendar invite to remind you to learn at certain points in your week or in your busy schedule. And while this is very important, this is where we still see the majority of our Udemy Business customers spending their time on our platform. And why this is very important and why I mention this is because this is where we will strategically place the first of our GenAI features, which is the Udemy Learning Assistant. This shows a preview concept of what we are working on our roadmap. You see here the concept of a screen during the course taking experience. And what you see there is that little wizard icon. And the purpose of this learning assistant is so that you can ask questions about the course content and about the concepts that are being delivered in the course. You can see that the learning assistant, once you interact with it and ask it a question in other words, this becomes a much more interactive experience for the learner where they're seeking out the specific information they want and getting it right away in a chat format. But I want to make a distinction. What's happening here is the questions you're asking and the answers you're getting are in the context of that course, are in the context of that instructor's voice and that instructor's instruction so that you're getting something that is highly specific to where you are in your learning journey. The internet doesn't know where you are in your learning journey. The Udemy Learning Assistant knows where you are and gives you and guides you to the right answers as you go along. What we have here is a seeking for help. Sometimes it's possible that the question you've asked is not answered right away in that particular lecture. We won't stop you at that moment. You will see that the learning assistant will respond to you and say, maybe you can go find the answer somewhere else in that same course, maybe point you to another course, or maybe point you to the Q&A discussion section that Gary pointed out earlier. There are many ways in which the learning assistant will guide you, get you unstuck, and get you going on your learning journey in a way that's highly efficient, highly relevant, and highly specific to your particular needs. So while we showed our traditional Udemy Business content, let's also have a look at another way of learning. That is bite-sized learning, also referred as microlearning. So while Udemy may have been known as more of a long-term engagement model where users would come onto the platform and they would upskill in a certain topic or prepare for a certain certification, which may take 30-40 hours on average, now we can come to the platform, engage in the platform in a very quick way, get snippets of information, and apply those short pieces or snippets of information back into your day-to-day role or function. Let me give an example. I'm an AWS engineer, and my company has asked me to start or create a server on AWS. I have forgotten how to do this. So I asked the platform a question in the search bar, how to start an EC2 instance, and I run this. Now, while I get courses back, I also receive back bite-sized lectures. You can now click on one of these bite-sized lectures, watch this for five or six minutes, get that little piece of information, and then go back to your day-to-day function. So now you're learning on the platform on a much quicker level. Again, there's no commitment, no enrollment. You're coming to the platform, getting what you need, and then going back to your day-to-day practice. You could do this multiple times a day. So that is microlearning. And that is a new, very popular way of learning. And it's something that our customers really appreciate. One more thing I'd like to show you in terms of learning modalities, and I want to talk about this that's coming to us in 2024, and that is Learning Communities. Learning Communities is a new way of learning and something we are very excited to show. We are going to bring together a certain topic and skill and a group of users. Anytime a user does an activity on a course relevant to the topic or skill, it will appear on an activity feed for all the users to see as part of that group. We can now see what our peers are learning. We will then be able to interact with those activities by reacting to them or starting discussions on what our peers are doing have been done. That is Learning Communities and something that we are excited to show in 2024. So there are different types of learning modalities. And I'm going to show us the next spoke or component of the intelligent skills platform. And that is interactive learning. And while we have many forms of interactive learning, such as Q&A and leaving reviews, I really want to focus on our Udemy Business Pro offering. As this is the next evolution of learning, this is learning by doing and rolling up your sleeves. So I'm going to talk a little bit about the UB Pro offering. I'm going to talk about assessments, labs, and workspaces as separate components, and then bring them all together into a very ultimate U Pro learning experience. So I'm going to be talking about our immersive learning offering, Udemy Business Pro. It's made up of three separate components. The first component is assessments. Assessments are a multiple-choice question solution where users are required to select the correct answer from a list of choices provided. Assessments measure and evaluate a learner's current knowledge to identify areas for review, and Udemy will provide content recommendations based on their areas of improvement. Let's have a look. In the interest of time, I've completed an assessment for the AWS Certified Developer Associate. As you can see, once you have completed the assessment, you receive a score. In this particular case, my score is 52, and my proficiency level is developing. I can also review the answers, and I will receive feedback based on my correct and incorrect answers. But where Udemy's assessment offering really shines is where we actually provide content recommendations on the areas you need to improve. Now, since I got my score, I have received this course, Ultimate AWS Certified Developer, and I click on it. So now, while this course loads, we will also come back to what we showed earlier with the right sections, but now we have highlighted areas of improvement. As we can see, this section is recommended for me. We are literally focusing and guiding the user on the right areas of the course to bridge their skill gaps and knowledge of a particular topic so that they can improve the next time they take an assessment. This can be on a repetitive process so that the user can bridge the gap in their skills. The next component of the Udemy Business Pro offering are labs. Labs are real-life world projects designed to help you apply in practice what you have learned through your Udemy Business video content. Let's quickly explore some labs, and I'll give you an idea of some examples of what a lab might entail. Let's stick with the theme of AWS, and we can now click on it by this popular topic. Now we can click on a lab. First of all, we get a title of the lab, so improve the security posture by automating security controls. We also get a scenario. So we're putting into the context a real-life situation. For example, you are a solutions architect working at a technology company, and you've been tasked to do this as part of your role. We get some objectives, we get some outcomes, and then we can also start the lab. Once we start the lab, we'll be given an assignment, and also this is broken down into various tasks that you must complete to achieve the outcome. So really rolling up your sleeves, applying in practice what you have theoretically learned in your Udemy Business content. Now, it's all well and good that we have provided you these tasks to do, but also it's very important that we give you a safe, risk-free environment to apply this in practice. So now we bring into the third component of our Udemy Business Pro offering, which is launch spaces, which is workspaces, where you can now launch an AWS workspace as such, and you can come back and now start applying in practice what you have learned. Once you have done that. And why this is important, why we offer labs and why we offer workspaces is that we want to bring this into one unified learning solution, which is where our Udemy Business Pro learning paths will come into play. So now we take everything that we have talked about, and we combine it into one unified learning experience. So for example, let me quickly just take Amazon Web Services again, keeping with this team of AWS, and let me pick something like an AWS Certified Data Analytics. Now we can see we are brought to this sort of flow where we will be given, first of all, our assessment. So we now find out what our current skill level is and where we need to improve or bridge that skill gaps. And now we are recommended content based on your assessment. And if you note back to what I said in assessments earlier, we are provided lecture-level recommendations on where to improve. And once we have consumed that content, we can now apply in practice with labs, with hands-on experience, what we have learned. This is really the full solution of going from zero to hero, where we are combining our Udemy Business Pro, we are combining our traditional Udemy Business content, and bringing this into one unified solution where you go from zero to hero on a certain skill or a certain topic, and now preparing you to finally and eventually validate those skills with certification and badges. So we talked about how we have a tremendous number of courses in our platform, and our customers tell us we can find just about any course on your platform, but we really need to customize this to our needs. And this is the problem of skills mapping. They come to us with a description of a skill, and that might be as simple as a pillbox description that says, as Gary described, Amazon EC2 certification. Or they might come to us with a more complex definition of skills, which might be a paragraph or an entire page long that describes, for example, how their data science engineers need to learn the various aspects of data science. Now, in the past, converting these asks into specific courses and specific learning paths was a very manual process. Going forward now, we intend to use the power of generative AI to create an entirely automated sequence of outcomes, of learning paths from those skills needs. This is what we call our Skills Mapping Wizard. We have done this by doing a deep introspection of our course content. We have literally taken every lecture and every course of our content, and we have converted that into a set of learning objectives on a lecture-by-lecture basis. We understand deeply what each lecture in each of our courses is actually imparting to the learner. Then we take the very complex and ill-defined skills needs that the customer provides us, and we marry that together with our deep understanding of the content to generate an extremely relevant learning path. In concept, we receive these skills needs. These skills needs may be very simplistic or very complex. We generate first, in fact, a skills tree out of those skills needs. So we actually have a formal, hierarchical definition of the actual abilities and skills and the subskills that you will learn and you need to know in order to accomplish that skill. And then we marry that skill tree breakdown into our learning objectives of our courses so that we can deliver a learning path that is extremely relevant. So here's the skill definition view. The skill definition asks the user, and in this case, it could be an end user, or it could be a learning administrator in a company that is providing a high-level description, and then any amount of additional description that they have available, the specificity of the pre-known abilities of these learners, the specificity of what the nature of the audience is, are they highly technical, are they not technical, and so on. This allows the organization to really specify at a deep level of detail the nature of the upskilling they're trying to do. Once we understand the actual skills needs, we confirm that this is, in fact, what you intended by showing you the resulting skill tree, by saying, this is what we think you asked us for. These are the abilities you're actually asking us for. By the way, this breakdown and creation of the skill tree is, in and of itself, extremely valuable to our customers because this takes them many, many people, many, many weeks or months to do for the collection of skills that they have to upskill their entire workforce on. We can do this extremely fast, extremely quickly in this interactive format in a completely automated way. Once we have done that skill tree generation, we then create the learning path. This is the actual set of content to guide you to your upskilling process for that skills tree's need. This could include, of course, our course content, which is subsetted into the set of lectures that are highly specific and relevant. It could include assessments, it could include labs, and so on and so forth. This, we believe, is extremely transformative for our customers. This makes them completely have a very specific, highly personalized, highly relevant experience so that their learners can get upskilled from that point A to point B in the shortest possible time with the greatest degree of specificity. This would not have been possible without the advent of GenAI. It would have been an extremely difficult problem to solve. So this is another rendition of the skills mapping capability in the form of a chatbot. Let me show you what this looks like in concept. So here, we're showing a screen that is our learning paths, part of our product. And the learning paths is where a learning designer or a learning manager would come and create a new learning path. In this example, they're going to create a learning path using GenAI. So they start with create learning path, and we take them to a conversation. We keep them into a chat mode here and try to elicit more details about what they are trying to create a learning path for. First of all, it's the basic description of the skill, what they're trying to do. Of course, they can be as verbose or as succinct here as they want. Then the chatbot will elicit further details about who it is that is being targeted for this skill, how they will use this skill, what the difficulty level of the skill needs to be so that we elicit specificity and detail about the skill need that is being asked for. Once that is ready, instantaneously, the user is able to click learning path and see this screen that has a number of very interesting components. In the center there is that learning path, which is the set of courses and content and specifically lectures that are responsive for the skill needs that have been defined. On the right-hand side, you also see something called the skill tree, which is essentially a breakdown of the high-level skill definition we had before into a much more formal, hierarchical definition that spells out specific skills that are intended to be acquired in this learning path. Also, we see on the left-hand side the continuation of the chatbot so that you can interact with this in multiple ways to then further, for example, refine your requirements. You might realize that this is a purely technical piece of content, and I'd like to be able to add a soft skill to this learning path. And you can go ahead and do that by saying, I want to add a skill for communication. And the intent is that the learning path, as well as the skill tree, will update dynamically so that you can see the resulting change that you have just made. So the whole point of all this is to have a highly specific, highly personalized way to generate learning paths and skills trees for just about any skill that an organization might come to us with. And this is done immediately in real time with all the benefit of the sophisticated technology we bring to bear, the GenAI technology that introspects and understands deeply the learning objectives of each lecture, each course, and puts these together in an intelligent way that is highly efficient, highly specific, highly targeted. Next, I'm going to show us in the platform how we have validated the skills that we have learned while we were in Udemy Business. So next, once we can come to my learning, we can now come along to the certification section, and we can see our badges that we have done. In this specific example, I've used the AWS Certified Cloud Practitioner exam. I've used the Udemy Business Pro path. I've done my assessments. I've done my Udemy Business content. I've applied that in practice with my labs. I've got my certification. I've got my badge, and now I've imported it into the Udemy Business platform. But that's not where we stop. So now, for example, I've done my Certified Cloud Practitioner. Now, how do we go to the next step? So now we look at, again, certification preparation. I do not stop my learning journey there. Once I've done the AWS Certified Cloud Practitioner exam, I can come along, and I can explore certification preparation. Now I can also come along and see what is next for me. Let's say I focus again on AWS. Now we can see the next one, which is the AWS Certified Solutions Architect Associate. I can come along. I can see what the badge details entails. If I've completed this certification, I can import that badge. But now I can also use Udemy Business. Udemy Business has teed us up. It has given us the platform of going from zero to hero. It has given us the trail, essentially, on how to get upskilled and validated in this particular topic. Now, I want to speak about Insights. Insights is how do we show the data that is being performed on the platform. We provide very intelligible insights to our customers in the form of dashboards and reporting metrics. So I'm quickly going to show this in the product and what it looks like today. Again, we now provide a skills insights dashboard. This shows a breakdown of what skills are being consumed in your platform, individual to your users. Udemy has defined three main metrics. We have business skills, we have technology skills, and we have personal development skills. Again, we don't know what skills are in focus for you at a certain point in time. So we now provide the possibility for an admin to focus on priority skills, where they can come along and they can select what skills they want to see or what they want to focus on for their organization. Now this shows you where the skills are being learned. If I focus on this particular example of Python, I can click on this Python tab, and I'll see that 1.6% of total time spent learning in this platform is on Python. Again, we can see what groups are learning it the most, and also we can see now providing more content for you. So you've selected Python as a priority skill. Now we are recommending courses for you that you could apply or put into learning programs or assign to users that may encourage you to upskill this priority skill for you, Udemy Business. Again, we also do benchmarking. So what we do now is that we have benchmarks against the industry. So as you are part of a certain organization, you may want to know what are other organizations in your sphere also learning. Again, we focus on business skills and technology skills. On the right side, you'll see the top 10 technology skills in our organization. We can also see a purple benchmark showing how much time is spent on this particular skill or topic. You'll also notice that there is a black line here that shows where the industry is learning. So for this particular example, we can see that Java, we spend 1.5% of our time learning Java, 201 hours altogether. We can see that in the industry, only 1% of their time is spent learning in Java. Again, we are allowing our customers and our users to make informed decisions and allow them to get valuable insights into what is being learned across the industry and what particular skill or topic. Again, we can scroll down to our skill insights dashboard. We can focus on and use this interactive pie chart to see where the time is being spent. So, for example, we can see in IT operations, 16.8% of learning is done here, but 4% is on networking. If I again focus on networking, I can get a much better breakdown of what is being learned. Now, we can also see as the final dashboard for our Skills Inside, what is trending in your organization. So here we can see that podcasting is being quite popular since February the 18th. We have lots of metrics to show, but we can also show and focus users on certain courses, how many active users are in certain courses. And again, we can also focus on groups. Maybe you want to show just specific metrics for a certain type of user. Again, we can come in here and focus or filter, let's say, on specific locations or specific job functionalities within your organization. We talked about validation earlier on. Again, now we have Badging Insights. So we can see here what badging is being learned within your organization. We can see how many users are preparing for a badge. We can see how many users have completed a badge. Again, as we explore and further out validation within our platform. And finally, how are our users engaging with the platform? Again, we can see how many users have joined the platform, how many have enrolled in a course, and how many have watched a course. We can see 87% of users have watched a lecture, for example. We can see that 205 haven't. We also have calls to action. We can email these users. We can export this list. We can maybe understand why perhaps users are not engaging with the platform. And we can also give you some examples on how to drive adoption. Again, the whole point of the skills insight is to provide our customers and organizations informed decisions on how then to proceed with their learning programs. Thank you so much, Gary. That was a great walkthrough of our entire platform. Let me remind you what exactly we walked through. If you look at the areas that we looked at, we looked at our five spokes of the Intelligent Skills Platform. We went through the learning guidance that showed how a learner is actually consuming the content in the form of video content. Also, we showed you our future roadmap there in our GenAI capability with the Udemy Learning Assistant. We talked about interactive learning, all the capabilities that we have for practice tests, quizzes, especially with respect to assessments, labs, and workspaces, the real interactive work of learning, especially technology topics that goes far beyond video consumption. We talked about learning guidance, about how we have learning paths as prescribed paths for our learners. There, we showed you our future capability with our Gen AI skills mapping capability, where we are able to marry the power of generative AI technology with the vast content we have to bring it together into arbitrary learning paths for arbitrary skills that organizations are interested in. We talked about validation and the assessments capability of our product to provide validation of skills. Finally, we talked about insights, where we showed you how the organization can get insights into the aggregate learning of their population as a whole, as well as benchmarks with comparison to other industries. So hopefully, this gives you a good overview of our Intelligent Skills Platform as a set of capabilities that are sitting on top of our unmatched content. We'll now open it up for questions. Dennis? Thanks, Prasad. So yeah, we're going to shift gears now. We're going to open up the call to questions from the audience. So for those of you that are on the Zoom, if you have a question, please use the raise hand function at the bottom of your screen. Or if you're dialed in, you can press star nine to enter the queue. Once your name has been announced, you should unmute your line before asking your question. Participants can also submit written questions via the Ask a Question tab at the top right of the webcast player. So as we gather the queue, we've got a couple of questions already that are in here. So let's just kick it off with a couple that have been submitted on this. Prasad, is when are these capabilities going to be available, and what is the monetization plan for those? Okay, two big questions there. All right, let me take them both. So as you can see, we are actively working on this. This is in active development as we speak. And we are working towards delivering this in a beta format in the second half of the year. And of course, releasing this after that once we have collected our beta cycles and beta input from our customers. So that is specifically with regard to the generative AI capabilities you saw in the roadmap format. By the way, to be very clear, the rest of the capabilities that Gary showed to you in the product are already in the product. Those are not roadmap. Those are experiences in the product that you saw that are present there. The other big question you asked is monetization. Well, these are, of course, early days. What we are trying to do here is make sure that we get ahead of the technology curve, which we believe is the first and most important thing to do. And by the way, not so easy, because this technology is moving really fast, really quickly. Having said that, we are open to many different ways of monetization of the technology. It might be in the form of add-ons. It might be in the form of just looking at extra win rates that we get as a result of our differentiation. It might be in the form of a freemium model where a certain amount is available for free, and then extra is an add-on price. So all those things are open. And these are discussions we will have internally, as well as, frankly, with our customers as we roll this out to the marketplace. Great. And we've got a lot of questions coming in here in the queue. So up first, Stephen Sheldon from William Blair. Please unmute yourself. Hey, thanks, Dennis. Can you hear me? We can. Okay, perfect. So I wanted to ask kind of how do you think about companies taking the insights from your platform and actually using it strategically? So even thinking about things like, we have these specific projects we're working on at our company that are needing these specific skill sets, and actually using the insights from your platform to decide how to staff a project, maybe based upon who in the organization has developed specific skills. Are you seeing that happening at all? Is that an opportunity you're thinking about, I guess, in the product roadmap? Absolutely. Good question. So if you notice, if you recall, when we showed the product on the insights side, we have the ability for organizations to set something called priority skills, where they come and tell us exactly what you said, which is, we care about these skills. It might be Gen AI. It might be Python. It might be leadership. It might be project management. It might be a whole host of things. So they get to decide what those priority skills are. And the dashboard actually doesn't come presuming what your particular needs are. Once you decide what those priority skills are, the dashboard refreshes then to tell you, oh, now that you've told us that, we can actually tell you what fraction of your learners are actually consuming these skills and what fraction are not. This looks like a real gap. If only 2% of your learners are looking at learning some priority skill, that's a pretty obvious gap that you should go do something about. So that's the way we go about it, to make sure that that gap is filled through both the insights that we provide and the ability to tell us what you care about the most. Great. Thank you. Thanks, Stephen. Up next, Tom Singlehurst from Citi. Yeah. Thanks, Dennis. Thanks, Prasad. Thanks, Gary. Great presentation. Really enjoyed it. Yeah, I had one question, actually. I mean, here at Citi, we have Udemy Business, which is great, but it's delivered via Degreed, i.e., a third-party LXP. So the question is, is the AI functionality and tools only going to be available for those customers that are using sort of the full sort of UB functionality, or will there be some way to sort of deploy it on third-party platforms? Excellent question. Excellent question. So even we at Degreed that we integrate with, and many other LMSs and LXPs today, the way it works is the learner, when they're actually taking a course, are clicking into Udemy, and they're actually consuming the course-taking experience within Udemy. So that happens within our platform. And when that happens, obviously, our Udemy Learning Assistant AI capability will be right there during that course-taking experience, if you recall what we just showed in that area. So our intention is to have it embedded during that course-taking experience. That'll be right there. The other aspect is the skills mapping capability. Now, we do intend to make available the skills mapping capability in an API form as well. So companies that are external to us will be able to send us a skills need, essentially, through the API and get the learning path back through the API as well. Once they get the learning path back from us, they can do the same thing. They can click, or the user I mean, that learning path can be displayed in the LXP. The user can click on that learning path. At that point, again, they are launching the learning path experience within Udemy, and off they go. So we have a nice way to symbiotically do this that doesn't break the experience for our users that are using those third-party systems. Great. Next up is Connor Passarella from Truist. Connor, you may be muted. Hey, guys. Can you hear me? We can. Yes. There you are. Great. Okay. Appreciate it. Thanks. Yeah, really great presentation. I'll echo my thanks. I just wanted to ask one on skills mapping at the organizational level and when you think about designing learning paths. So how does Udemy help shape the learning objectives at that organizational level and how they should be focused? Is that something that Udemy can kind of see through a benchmarking feature, kind of recommend to leaders saying, "Hey, your financial services, these financial services firms are focused on implementing these skills with their learners. Maybe this is something you should be focused on from an organizational standpoint"? Great question. Actually, in fact, you hit on it right there. The purpose of our benchmarking capability that we showed there is for you to see what's happening in similar industries so that you have some idea of what's happening from a peer standpoint of what it is that people care about. At the end of the day, though, every learning organization usually has a good point of view about what it is broadly they're trying to accomplish, their business needs and their business goals. What they come to us for is, what does that really mean? For example, if I want my learners to learn a particular skill, which is data science, well, do I, as the chief learning officer, have the ability to know exactly what kind of paths I need or what the exact underlying breakdown of skills are under data science? In some cases, they do. In some cases, they don't. And where they don't, we have the ability with our skills tree generation, as we showed during the skills mapping demonstration, that will actually fill in the blanks for them. So we rely on the richness of our content to know what exactly it means when you say learning about data science. In fact, we have many different points of view about it. And we can surface to you a very specific breakdown of domains, subdomains, and within each subdomain, what we call terminal learning objectives for each skill, so that that whole single word called data science can be actually broken down into very highly specific details. And that's a big value add that we provide to our organizations, of course. And from there, taking it further to, of course, the learning path itself, the content that will walk you through acquiring those skills. That's the whole intent of the skills mapping capability we're building. Great. Thank you very much. Really helpful. Thanks, Connor. And I'll take one of the submitted questions here. It's asking about the instructor reception. How has that reception been to the AI products that have already been released? And what role do we see Gen AI playing in the content creation longer term? All right. Very good question. So for our instructors, we released last year the capability to build coding exercises. We also released just late last year and is in rollout right now, the capability to do question and answer generation. So let me describe what those two things for instructors. We didn't show them the demonstration today, but let me walk you through them. Essentially, the coding exercises is helpful for technical courses, programming courses, where the idea is that the instructor needs to confirm the learning of the learner by having them actually write some code. Now, the difficult part of this is not the coming up with the coding exercise. The difficult part of this is coming up with the testing code that the instructor otherwise would have to write in order to test whether the user has actually typed code that is correct or not. That is something that we have automated for them with GenAI. That has had a tremendous uptake. We have had continuous increases in the number of coding exercises that have been generated going forward in the platform using GenAI. That's been a help to our instructors. The second one is question and answer generation. Essentially, as you saw in the demonstration, learners can ask questions to the instructor about various aspects of their course. What we have done is we have looked at all the past questions that have already been asked and answered and essentially providing the instructor the ability to choose a pre-generated answer from our AI. They just have to review it and hit accept and go ahead and deliver that answer to the learner. So that is something that we have been told by our instructors saves them a tremendous amount of time, especially the large instructors. You think about it, you have hundreds of thousands of learners. There's lots of questions going on. Some of our bigger instructors actually employ TAs to do just this job of answering questions. And this becomes much more efficient for them as a result. So those are examples in which we have really helped our instructors get more efficient. To the second part of that question, content generation. So we do expect that the instructors will take advantage of the AI-assisted content generation tools out there, whether it is avatar generation or typing out a lecture and having your voice generate the content of the lecture. All of those things are assistive tools that we do expect our instructors to use. Those are things that are not our core offering. Those are content generation, content creation tools that our instructors will have lots of places they can get those from. And ultimately, the work product of using those tools is the key content. Instructors are bringing their world experience, their learned experience, their knowledge of how to teach a particular topic, their deep knowledge of the exact denouement of concepts in a particular topic. And that's what they bring to the party. And they might use a variety of tools to make themselves more efficient in that realm. Of course, at the end of the day, we deliver that content on our platform, augmented with our learning assistant, as we described. All of those benefits will apply in any case. And of course, then augmented with automated interactive capability as well. So we think these will all be additive in terms of creating better and more interactive content on our platform. Great. Ryan MacDonald, you're up from Needham. Excellent. Thank you so much for taking the time. Prasad, I'm curious. So as we think about continuing to tie sort of skills mapping to ROI for customers over time, can you talk about what level of personalization you can get to in terms of the priority skills that you want to map to over time? You talked about sort of right now being able to go sort of organization-wide. But can you sort of over time or even today go to a team or personalize to an individual employee level so then you can sort of see in terms of career development or progression or identify maybe skills gaps from underperforming teams? What level of personalization can you get to today versus over time? Thanks. Good question. That is one of those things we will be able to do sort of off the bat from the get-go. The idea there is that once we've built out this capability and it's built out of form, the idea will be that the learner or the organization can come to us with, like I described, just a simple pillbox skill. It might say, for example, project management, or it might say, "Learn Kotlin." Or it might be highly specific to say, "This is for a set of front-end engineers who are intermediate in their careers." And you might have a specific ask in that way. Or it might be specific to a learner who might say, "I already know object-oriented programming. You don't need to teach me object-oriented programming. Just teach me the specifics of this language." So our intention is for this capability to be highly specific and to be able to get that learning path that is responsive to the specificity that the user is asking for. So that's the power, frankly, of the GenAI technology at our disposal now and the ability to be responsive to those needs. And frankly, to create these learning paths, that might be hybrids. It might be that you want to learn programming at the same time that you want to learn how to be a great communicator. And you can do them both in a given learning path in a given duration. So those are the kinds of things we very much intend to make available. Great. Thanks. Next up is Brett Knoblauch from Stifel. There we go. Thanks, guys. I really appreciate this today. I thought it was extremely helpful. On the AI front, I was just curious how these new product features might drive maybe increased or what your expectations are for the new features to drive increased utilization among UB users and how that might impact maybe the adoption of badges. Are you expecting to see an inflection point in maybe the importance and how people will view badges once these kind of go GA? Great question. Great question. So there's many, many places I can take this. First of all, to remind you, our badging capability today already prepares you for close to 200 different certification exams and badges and allows you to essentially have preparation for those badges in terms of content we have available. And in a number of cases, in a large number of cases, we have full-blown paths where we have labs and workspaces and assessments that give you sort of full-blown preparation for badge outputs. In fact, if you just look at even AWS, for example, we are, in terms of volume, one of the largest providers of AWS content enrollments for AWS badge readiness of anyone, even I believe AWS. And so as we go forward, our intention is to keep adding to that badging capability in two ways. 1, by increasing the assessments capability of our platform. Down the road, this is further down on the roadmap, but essentially using GenAI capability to increase the automation of how we create assessments. There's no reason why we can't create questions and assessments driven by GenAI. We're already starting to do that. We're going to intend to extend that as we go along. The other areas that are of interest to us in our roadmap standpoint is badge issuance as well. In certain capability sets that companies care about, we are contemplating looking at issuance of badges on our platform as evidence of skill. You have the full end-to-end capability available. Awesome. Then maybe if I could just ask one more. I know this is really focused on or this presentation is really focused on UB. But how much of the AI investments you're making today or that we talked about today are going to be transferable to the consumer side of the business? So the core technology of the learning assistant is entirely transferable. It's essentially in the course-taking experience. And it's in the same context. The learner on the marketplace might well benefit from the course-taking experience being enhanced by a learning assistant as well. So from a technology standpoint, it's substantially transferable. I think there, to be very honest, the thing we have to look at is monetization more carefully. Obviously, we want to make sure that we figure out the right monetization technique when we make that available on the consumer side. Skills mapping is a little more relevant for our subscription offerings where you are not looking at just one course. The outcome of a skills mapping exercise, again, will be a particular path through a collection of courses. And that's an area where we can go two ways. We can either make it available to our subscription offerings, or we can make a bundle out of the offering, out of the path that comes out. It's a little more work to be done. Fundamentally, long run, yes, it's something that we can apply. It's just we have to figure out the exact monetization and bundling mechanics of it. Awesome. Thank you, guys. Really appreciate it. Great. Thank you. We are at time. We've reached the end of the Q&A session. I just want to thank Prasad and Gary for the demonstration today. Really appreciate your time. Thank you all to everyone for joining, for the questions, and your time today. If you have any additional questions we didn't get to, just don't hesitate to reach out to me. Otherwise, we look forward to connecting again on our Q1 results call in May. Thank you, everybody.