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Service Now is expanding its presence in Florida with a new regional innovation hub, an AI Institute in West Palm Beach. The developer of the site is Related Ross, run by Stephen Ross. He's known for the Hudson Yards redevelopment project and of course ownership of the Miami Dolphins. Stephen Ross and Service Now CEO Bill McDermott join us now. Gentlemen, good morning. Thank you for joining us here on Bloombo Tech. Bill, it's great to have you back on Start with the
Service Now piece. You know, in this environment, Bill, where there's such a microfocus on the talent in AI and where companies are spending resources, why does this position Service Now better to have this footprint in Florida.
Well, there's no artificial intelligence without human intelligence, said, and there's no leader that can develop a project and a dream better than Steven Ross. And you mentioned the Hudson Yards, but he also did the Time Warner Center. And we've been friends for a long time. And I always felt the trust was the ultimate human currency and it still is.
And I believed in his dream and what I see happening here is we're building an AI Institute, and in this institute, we're going to have the most innovative engineers in the world. We're going to be able to prototype solutions for the public and private sector at record pace, and then we're going to move those solutions out into
the market. We're also creating knowledge University, and we're going to put the flag right here in West Palm Beach to rise up three million people in our economy to the AI world so they can get the better paying jobs, the creative jobs where only humans can really excel. And I underscore we really believe it's all about putting AI to work for people, because we're a job creator and we believe that AI has to be in service to peace people, and right in West Palm Beach we're role modeling that.
Mister Ross, you have a vision that West Palm Beach becomes an AI hub more than just service. Now, how difficult is it to convince the technology industry of your vision? And why West Palm Beach.
Well, I mean West Palm Beach is really because of Florida being the great business state it is, and knowing that South Florida is different than the rest of Florida and it's really poised to growth and attract jobs. It's never done that before. It's always been second homes, you know, the second home to all South America, if you will. But right now, the resources of Florida, there's not a
better business state. And when you look and see where people are going in the change that's occurring in this country, there's no place better position. So we had to really put it together to bring those things that Florida didn't have to attract business. And that's what we've been concentrating on.
And fortunately now, I mean if Bill and his vision, which is second to none, really saw, at least in our opinion, most people's opinion, but saw the possibilities and how South Florida was really different than any other place in the country. There's not a better business state in Florida to start with, so we're very fortunate.
Bill eight hundred and fifty jobs over the next five years, talking about one point eight billion dollars in economic impact. You're big on training and training people with service now, but will some of your employees move over? How much are they wanting to come to the Gold Coast.
I would say we'll have a twenty percent of our workforce likely relocate. The demand to do that has been unbelievable, and I keep reminding people the office gets completed in twenty twenty seven, so just relax. But the demand is there. I think it'll be eighty percent. That news. You look at Florida, amazing universities across Florida, look at our veterans.
We're going to cross train our veterans on our open AI opportunity and they're going to get excited and this is going to be a great place for them to grow and prosper people that want to switch jobs and go into this industry because it's flourishing. You know, the jobs are going to get created in tech companies like Service Now, and we keep hiring, We're growing, we're hiring,
we're prospering because the innovation is second to none. And you know something you know that's very well Carolina ed. This platform connects to every cloud, it connects to every learning and every AI model, and it connects to every data source. So this will be the AI platform for business transformation. And the opportunity has never been greater than
it is right now. And I'm excited to do this with my great friend, Steve and really really grow the company, especially in West Palm Beach for the great state of Florida. And I want to say Governor Desan, this Mayor James Stephen Ross, all of us work very hard behind the scenes to make this moment a reality.
Stephen, that reality is mixed use residential, retail office properties. In this particular focus, what about data centers? Are you thinking about the future of Florida there? I know very much West Palm Beach is a place to live and to thrive, But where will your opportunities go next when it comes to technology.
Well, first of all, all we're just starting and really had to really develop the base for them to see the opportunities here. So we really concentrated on bringing great universities like Vanderbilt that are coming here with their business engineering tech schools. And then we had to bring in a hospital. We have Cleveland Clinic, and so we're bringing all those things that are necessary K through twelve education
to attract companies. And that's what we've been concentrating on and working with the city and the county and the state that will really make this a place where companies really want to relocate because they can attract the best talent.
Mister Ross, thank you for that. Bill. I think a very reasonable question that your employees are going to have is whether you yourself are going to make the move to Florida and other members of leadership will make the move if you believe so much in this vision of the future for West Palm Beach.
Well, you have to remember we have a very large commitment to the state of California where we started the company in both San Diego and Santa Clara, California, which is where I'm based. But we will have executive leaders on the top management team that will be domicile here in West Palm Beach and will be part of this amazing revolution. And I will spend a lot of time that the time, the discretionary time that I can here, because I really want people to know we planted a
flag today. This is a flag of opportunity, a flag of growth, and leadership starts at the top. And I've always belie believe that the true measure of a leader is not what you take from this world, is what you give it. And today's service now gave it a lot. We came in here and Kelly, who runs Palm Beach County Business Development set on stage. This is the biggest corporate move into this area in Palm Beach County in the last thirty years. I'm super proud of that, and
i want to make this a stunning success. So I'll be where I need to be, the leadership team will be where they need to be. But the main thing is to build a masterpiece of flywheel of growth and innovation. I've already received several techs today on this announcement from other tech companies and systems integrators that are like, Wow, what are you doing there, what's going on in West Palm bil.
We'll see who comes on to say they're moving next. Phil McDermott, CEO Service Now Stephen Ross Sea related Ross. Great to have you both