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Zoom Video (ZM) Partners With Anthropic to Boost AI Efforts
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Zoom Video Communications (ZM - Free Report) recently announced a strategic partnership with Anthropic an artificial intelligence (AI) based research and safety company.
This collaboration with Anthropic, which builds interpretable, steerable and reliable AI systems, will expand Zoom’s federated approach to AI. Anthropic’s AI will be integrated with Zoom’s platform, which includes Meetings, Team Chat, Whiteboard, Zoom IQ and Phone.
This integration aims to enhance the outcomes for end-users and provide superior experiences for agents. By leveraging Anthropic AI, the Zoom Contact Center suite enables improved customer experiences through effective self-service options and accurate understanding of customer intent.
The AI technology guides customers to optimal resolutions, surfaces valuable insights for managerial coaching and enhances productivity by offering unified communications and contact center experience.
In the near future, Zoom also plans to utilize AI capabilities to ensure that agents have access to the appropriate resources, thereby ensuring exceptional service experiences for customers regardless of their reasons for reaching out.
Zoom Ventures has made a strategic investment in Anthropic, further solidifying the existing partnership between the two companies. Anthropic is focused on advancing research and development in order to develop scalable AI systems that are controllable, reliable and ethical. Zoom has chosen not to disclose the specific financial details of the investment.
Zoom Video Communications, Inc. Price and Consensus
Zoom is relying on AI to boost its number of users as well as the engagement of those users. The company has been making significant investments in AI to boost its top line.
Revenues from Enterprise customers grew 18% year over year and represented 57% of total revenues, up from 50% in fourth-quarter fiscal 2022. This was evident in the 27% growth in customers, which came in at 3,471, contributing more than $100,000 in trailing 12-months revenues. These customers accounted for 28% of revenues, up from 23% in the year-ago quarter.
In March 2023, Zoom announced the expansion of Zoom IQ. Notably, Zoom IQ is a cutting-edge companion that enhances collaboration and unleashes individuals' capabilities by condensing chat conversations, structuring concepts, generating content for chats, emails and whiteboard sessions, creating meeting agendas and providing various other functionalities.
The company also announced its plan to leverage OpenAI to strengthen its distinctive federated AI approach, emphasizing flexibility. By having the capability to integrate various models, Zoom aims to deliver maximum value to its customers, catering to its diverse requirements.
Shares of Zoom have declined 2.6% year to date against the Zacks Computer and Technology sector’s increase 22.7% in the same time frame.
The Zacks Consensus Estimate for ZM’s first-quarter fiscal 2024 earnings is pegged at a profit of 99 cents per share, indicating a year-over-year decline of 3.88%. The Zacks Consensus Estimate for revenues is pegged at $4.44 billion, indicating year-over-year growth of 1.18%.
Momo (MOMO - Free Report) , Dropbox (DBX - Free Report) and BlackLine (BL - Free Report) are some better-ranked stocks from the broader sector which investors can consider.
Shares of Momo have gained 2.4% year to date. The Zacks Consensus Estimate for Momo’s first-quarter 2023 revenues is pegged at $393.8 million, indicating a year-over-year decline of 20.7%. The consensus mark for earnings is pegged at 32 cents per share, which has remained unchanged over the past 30 days.
Shares of Dropbox have declined 1.3% year to date. The Zacks Consensus Estimate for Dropbox’s second-quarter 2023 revenues is pegged at $613.64 million, indicating year-over-year growth of 7.15%. The consensus mark for earnings is pegged at 43 cents per share, which has remained unchanged over the past 30 days.
Shares of BlackLine have declined 22.9% year to date. The Zacks Consensus Estimate for BlackLine’s second-quarter 2023 revenues is pegged at $143.88 million, indicating year-over-year growth of 11.99%. The consensus mark for earnings is pegged at 28 cents per share, which has remained unchanged over the past 30 days.
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Zoom Video (ZM) Partners With Anthropic to Boost AI Efforts
Zoom Video Communications (ZM - Free Report) recently announced a strategic partnership with Anthropic an artificial intelligence (AI) based research and safety company.
This collaboration with Anthropic, which builds interpretable, steerable and reliable AI systems, will expand Zoom’s federated approach to AI. Anthropic’s AI will be integrated with Zoom’s platform, which includes Meetings, Team Chat, Whiteboard, Zoom IQ and Phone.
This integration aims to enhance the outcomes for end-users and provide superior experiences for agents. By leveraging Anthropic AI, the Zoom Contact Center suite enables improved customer experiences through effective self-service options and accurate understanding of customer intent.
The AI technology guides customers to optimal resolutions, surfaces valuable insights for managerial coaching and enhances productivity by offering unified communications and contact center experience.
In the near future, Zoom also plans to utilize AI capabilities to ensure that agents have access to the appropriate resources, thereby ensuring exceptional service experiences for customers regardless of their reasons for reaching out.
Zoom Ventures has made a strategic investment in Anthropic, further solidifying the existing partnership between the two companies. Anthropic is focused on advancing research and development in order to develop scalable AI systems that are controllable, reliable and ethical. Zoom has chosen not to disclose the specific financial details of the investment.
Zoom Video Communications, Inc. Price and Consensus
Zoom Video Communications, Inc. price-consensus-chart | Zoom Video Communications, Inc. Quote
Zoom’s AI Initiatives to Boost Top Line
Zoom is relying on AI to boost its number of users as well as the engagement of those users. The company has been making significant investments in AI to boost its top line.
Revenues from Enterprise customers grew 18% year over year and represented 57% of total revenues, up from 50% in fourth-quarter fiscal 2022. This was evident in the 27% growth in customers, which came in at 3,471, contributing more than $100,000 in trailing 12-months revenues. These customers accounted for 28% of revenues, up from 23% in the year-ago quarter.
In March 2023, Zoom announced the expansion of Zoom IQ. Notably, Zoom IQ is a cutting-edge companion that enhances collaboration and unleashes individuals' capabilities by condensing chat conversations, structuring concepts, generating content for chats, emails and whiteboard sessions, creating meeting agendas and providing various other functionalities.
The company also announced its plan to leverage OpenAI to strengthen its distinctive federated AI approach, emphasizing flexibility. By having the capability to integrate various models, Zoom aims to deliver maximum value to its customers, catering to its diverse requirements.
Zacks Rank & Key Picks
Currently, Zoom Video Communications carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Zoom have declined 2.6% year to date against the Zacks Computer and Technology sector’s increase 22.7% in the same time frame.
The Zacks Consensus Estimate for ZM’s first-quarter fiscal 2024 earnings is pegged at a profit of 99 cents per share, indicating a year-over-year decline of 3.88%. The Zacks Consensus Estimate for revenues is pegged at $4.44 billion, indicating year-over-year growth of 1.18%.
Momo (MOMO - Free Report) , Dropbox (DBX - Free Report) and BlackLine (BL - Free Report) are some better-ranked stocks from the broader sector which investors can consider.
Shares of Momo have gained 2.4% year to date. The Zacks Consensus Estimate for Momo’s first-quarter 2023 revenues is pegged at $393.8 million, indicating a year-over-year decline of 20.7%. The consensus mark for earnings is pegged at 32 cents per share, which has remained unchanged over the past 30 days.
Shares of Dropbox have declined 1.3% year to date. The Zacks Consensus Estimate for Dropbox’s second-quarter 2023 revenues is pegged at $613.64 million, indicating year-over-year growth of 7.15%. The consensus mark for earnings is pegged at 43 cents per share, which has remained unchanged over the past 30 days.
Shares of BlackLine have declined 22.9% year to date. The Zacks Consensus Estimate for BlackLine’s second-quarter 2023 revenues is pegged at $143.88 million, indicating year-over-year growth of 11.99%. The consensus mark for earnings is pegged at 28 cents per share, which has remained unchanged over the past 30 days.