Cisco CEO Chuck Robbins: Most of my peers expect to eventually hire fewer people due to AI

Financial Performance - Cisco achieved 5% growth for the year and strong EPS growth [2] - Q4 showed meaningful growth of 8% and double-digit EPS growth [2] - Cisco recognized roughly $1 billion of AI infrastructure orders during the quarter [4] AI & Webscale Business - Cisco more than doubled its initial target of $1 billion in AI orders from webscale customers [3] - Large cloud providers (the six of them) grew triple digits (greater than 100%) for Cisco during the year, marking four consecutive quarters of growth exceeding 100% [11] Security Business - Excluding US Federal, overall bookings were up 10% [7] - Excluding US Federal, security orders were up double digits [7] - New and refreshed security products, comprising 2/3 of the organic Cisco security portfolio, grew in excess of 20% during the quarter [9] Innovation & Technology - Cisco is delivering innovation at a faster pace than seen in a long time [8] - Cisco's products consume less energy, driving strong demand from webscale customers [10][11] - Cisco is fusing security into the network to avoid latency issues [15] Agentics & Labor - Customers are aiming for "Agentics," which involves machines performing tasks typically done by people [14] - Cisco is evaluating whether new hires are necessary, exploring technology-based alternatives [16]