Raimo Lenschow
Barclays Bank PLC, Research Division
And it’s funny, I’m asking that question because like we kind of have the announcement on you already. But like how do you think — now that you hand eventually the reins over, how do you think about the growth algorithm for Five9 going forward? Any message?
Michael Burkland
CEO & Chairman
Perfect question. Look, I mean, we’ve been a growth story. Raimo, you and I go way back to the early days of Five9. And look, it’s a wonderful opportunity ahead of us. We are so excited about the future. It’s really a two-pronged strategy in terms of how we’re — we’re building products and how we’re going to market, but it’s also a two-pronged growth opportunity. There are 2 big growth vectors ahead of us that remain.
The AI for CX growth vector is significant. We all know that. Our AI business — our AI growing 41% year-over-year. It’s now 11% of our enterprise subscription revenue. So sizable and growing very rapidly. Our AI bookings in the quarter grew 80% year-over-year. So wonderful first vector of growth, if you want to call it that, they’re the faster vector of growth.
There’s also a really solid, durable growth opportunity in our traditional CCaaS market. Gartner projects — again, remember that there are 40% of the contact center agents are in the cloud today and 60% are on-premise, if you want to think about