Salesforce Inc. has announced that it is doubling its investment in AI startups and introducing new generative AI features in its products. The company’s venture capital fund focused on generative AI will now be increased to $500 million, and its portfolio of AI tools will be called AI Cloud. This move is part of Salesforce’s efforts to revive sales growth by leveraging the emerging technology of artificial intelligence.
Regaining Investor Confidence: Salesforce’s Stock Performance
Salesforce implements AI security standards to prevent customer data misuse in training language models. This move comes after OpenAI’s ChatGPT sparked intense interest from businesses across a variety of industries. Furthermore, Adam Caplan, Senior Vice President of AI, noted that customer data security is the biggest concern for clients. The standards will ensure secure and confidential customer data, enabling businesses to use AI technology without data leakage concerns.
The company has been regaining investor confidence after a difficult six months, with its stock jumping 62% this year. Investors are worried about Salesforce’s sales growth, projected to be only 10% this quarter, compared to previous 30% increases. In addition, Salesforce aims to regain shareholder confidence through job cuts, executive departures, and pressure from activist investors. The company is also looking to improve its sales growth and regain its previous success.
Salesforce CEO Emphasizes the Potential of AI for Expansion
Salesforce CEO Marc Benioff sees AI as a growth driver and has appointed Clara Shih as CEO of Salesforce AI. Customers will incur additional fees to access generative AI features across the software suite as pricing is currently under testing. In addition, Salesforce plans to gradually introduce AI tools in sales and customer support products starting this summer. These AI capabilities will expand across the entire portfolio, signaling Salesforce’s leading role in driving a major tech buying cycle fueled by AI.
The company has recently implemented generative AI tools using OpenAI’s technology. These tools include a chatbot for its Slack business communication unit and for customer service tasks. (www/theseedpharm.com) What’s more, Bloomberg Intelligence analysts project generative AI to generate $1.3 trillion in sales by 2032, encompassing hardware, software, services, and tools. Furthermore, Generative AI technology has the potential to revolutionize business operations, as it offers opportunities for increased efficiency and productivity. With the help of generative AI, businesses can automate mundane tasks, reduce costs, and improve customer service.
Salesforce Expands into Generative AI to Revolutionize Business Data Usage
They have announced the launch of its new generative AI initiative, headed by former Web3 executive Rob Caplan. Salesforce’s customer data advantage may help them revolutionize business data usage with generative AI technology. Deutsche Bank analysts view Salesforce as a likely winner in generative AI due to its brand and distribution. Lastly, with this new technology, businesses will be able to use data more efficiently and effectively to create better customer experiences.
