Cory Carpenter
JPMorgan Chase & Co, Research Division

All right. Good afternoon, everyone. Cory Carpenter, Internet analyst at JPMorgan. Thanks Yelp for joining us at the conference again. And I'm going to kick it over for the safe harbor.

David Schwarzbach
Chief Financial Officer

Thanks so much, Cory, for having us at the conference. We'll be making some forward-looking statements during the conversation today that are subject to risks and uncertainties. Please refer to our SEC filings for more information on the risk factors that may affect our results.

Cory Carpenter
JPMorgan Chase & Co, Research Division

All right. I got a ton of questions. If anyone on the line has one, I think you can submit it electronically. I have that in front of me or in the room, feel free to raise your hand.

So let's start with just the big theme, at least from our perspective in recent quarters, you've talked about rearchitecting the company around AI. Maybe to start, could you talk about the changes you're making and just what your vision for this evolution is?

David Schwarzbach
Chief Financial Officer

So we are absolutely reconceiving the entire Yelp experience around AI, but we're also transforming how we work. On the product side, we've invested heavily to build out what we call Yelp Assistant. That's a new experience. It's a conversational experience. We think it's really engaging.

And one of the things that's clear about LLMs is people want the evidence. Why did the LLM tell me what it did? Because oftentimes, they seem to turn up