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Salesforce (CRM) Expands Generative AI Tools With AI Cloud
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Salesforce (CRM - Free Report) has elevated the set of its generative artificial intelligence (AI) tools with the launch of the AI Cloud service. With this, the company claims to offer one-stop AI-powered solutions for enterprises looking to enhance productivity.
Generative AI is a type of AI technology that can produce various types of content, including text, imagery, audio and synthetic data. It is driven by a large language model, which means it uses a lot of data to understand and generate conversations.
Salesforce stated that its AI Cloud is a suite of services that delivers enterprise-ready real-time, open and secure generative experiences across all applications and workflows. The suite will power new capabilities across Salesforce’s products, including Einstein service, data analysis software Tableau and workplace-messaging app, Slack.
The inclusion of AI Cloud across CRM’s product suites will enable sales representatives to quickly auto-craft personalized emails, while marketers can auto-create personalized contents. An organization’s service team can auto-generate personalized agent chat replies and case summaries, while the commerce team can auto-create insights and recommendations. Moreover, software developers can auto-generate codes and predict potential bugs and provide suggestions to fix them.
The launch of AI Cloud demonstrates Salesforce’s strategy of incorporating generative AI tools across its products as it looks to keep its business ahead of rivals. The company forayed into the generative AI space with the launch of Einstein GPT in March 2023.
Einstein GPT is the world’s first generative AI CRM (Customer Relationship Management) technology, which delivers AI-created content across every sales, service, marketing, commerce and IT interaction at hyperscale. With Einstein GPT, the company will transform customer experience with generative AI.
With Einstein GPT, customers can connect real-time data from Salesforce Data Cloud to OpenAI’s advanced AI models or choose their own external model. Using large language prompts within Salesforce CRM, these customers will be able to generate content that adapts to changing customer information and needs in real-time.
Along with the launch of AI Cloud, the company also raised its venture capital fund for generative AI to $500 million from $250 million announced in March 2023. With this enhanced fund, Salesforce Ventures, the company’s global investment arm, will support the generative AI ecosystem and promote the development of responsible and trusted technology.
Other Companies Integrating Generative AI
Generative AI technology is finding applications in marketing, advertising, drug development, legal contracts, video gaming, customer support and digital art. This has sparked AI competition among the world’s biggest tech players, including Intuit (INTU - Free Report) , ServiceNow (NOW - Free Report) and Adobe (ADBE - Free Report) .
Earlier this month, Intuit expanded its platform architecture with the introduction of a proprietary generative AI operating system — GenOS. This will enable the company to design, build and deploy breakthrough generative AI experiences for millions of customers, including small businesses. It will also help customers solve their financial challenges.
Intuit GenOS features custom-trained financial large language models (LLMs) that specialize in solving tax, accounting, marketing, cash flow and personal finance challenges. The LLMs, combined with the company’s network of domain experts and data protection controls, intend to provide actionable insights and invoke actions like contacting human experts.
ServiceNow recently launched generative AI capabilities — ServiceNow Generative AI Controller and Now Assist for Search — for the Now platform that helps deliver faster and more intelligent workflow automation.
The digital media solutions provider, Adobe, aggressively expanded its footprint in the generative AI space through partnerships and new solutions. Adobe has unveiled a family of generative AI models, Firefly, focused on the generation of texts and images. Per the company, Firefly will offer more precision, speed, power and ease in content creation. It will let users of various experience levels create high-quality images and stunning text effects.
At present, ServiceNow sports a Zacks Rank #1 (Strong Buy), while Adobe has a Zacks Rank #2 (Buy). Salesforce and Intuit each carry a Zacks Rank #3 (Hold). Shares of NOW, ADBE, CRM and INTU have rallied 40.7%, 41%, 61.1% and 14.6%, respectively, year to date. You can see the complete list of today's Zacks #1 Rank stocks here.
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Salesforce (CRM) Expands Generative AI Tools With AI Cloud
Salesforce (CRM - Free Report) has elevated the set of its generative artificial intelligence (AI) tools with the launch of the AI Cloud service. With this, the company claims to offer one-stop AI-powered solutions for enterprises looking to enhance productivity.
Generative AI is a type of AI technology that can produce various types of content, including text, imagery, audio and synthetic data. It is driven by a large language model, which means it uses a lot of data to understand and generate conversations.
Salesforce stated that its AI Cloud is a suite of services that delivers enterprise-ready real-time, open and secure generative experiences across all applications and workflows. The suite will power new capabilities across Salesforce’s products, including Einstein service, data analysis software Tableau and workplace-messaging app, Slack.
The inclusion of AI Cloud across CRM’s product suites will enable sales representatives to quickly auto-craft personalized emails, while marketers can auto-create personalized contents. An organization’s service team can auto-generate personalized agent chat replies and case summaries, while the commerce team can auto-create insights and recommendations. Moreover, software developers can auto-generate codes and predict potential bugs and provide suggestions to fix them.
Salesforce Inc. Price and Consensus
Salesforce Inc. price-consensus-chart | Salesforce Inc. Quote
Salesforce Dives Deeper Into Generative AI
The launch of AI Cloud demonstrates Salesforce’s strategy of incorporating generative AI tools across its products as it looks to keep its business ahead of rivals. The company forayed into the generative AI space with the launch of Einstein GPT in March 2023.
Einstein GPT is the world’s first generative AI CRM (Customer Relationship Management) technology, which delivers AI-created content across every sales, service, marketing, commerce and IT interaction at hyperscale. With Einstein GPT, the company will transform customer experience with generative AI.
With Einstein GPT, customers can connect real-time data from Salesforce Data Cloud to OpenAI’s advanced AI models or choose their own external model. Using large language prompts within Salesforce CRM, these customers will be able to generate content that adapts to changing customer information and needs in real-time.
Along with the launch of AI Cloud, the company also raised its venture capital fund for generative AI to $500 million from $250 million announced in March 2023. With this enhanced fund, Salesforce Ventures, the company’s global investment arm, will support the generative AI ecosystem and promote the development of responsible and trusted technology.
Other Companies Integrating Generative AI
Generative AI technology is finding applications in marketing, advertising, drug development, legal contracts, video gaming, customer support and digital art. This has sparked AI competition among the world’s biggest tech players, including Intuit (INTU - Free Report) , ServiceNow (NOW - Free Report) and Adobe (ADBE - Free Report) .
Earlier this month, Intuit expanded its platform architecture with the introduction of a proprietary generative AI operating system — GenOS. This will enable the company to design, build and deploy breakthrough generative AI experiences for millions of customers, including small businesses. It will also help customers solve their financial challenges.
Intuit GenOS features custom-trained financial large language models (LLMs) that specialize in solving tax, accounting, marketing, cash flow and personal finance challenges. The LLMs, combined with the company’s network of domain experts and data protection controls, intend to provide actionable insights and invoke actions like contacting human experts.
ServiceNow recently launched generative AI capabilities — ServiceNow Generative AI Controller and Now Assist for Search — for the Now platform that helps deliver faster and more intelligent workflow automation.
The digital media solutions provider, Adobe, aggressively expanded its footprint in the generative AI space through partnerships and new solutions. Adobe has unveiled a family of generative AI models, Firefly, focused on the generation of texts and images. Per the company, Firefly will offer more precision, speed, power and ease in content creation. It will let users of various experience levels create high-quality images and stunning text effects.
At present, ServiceNow sports a Zacks Rank #1 (Strong Buy), while Adobe has a Zacks Rank #2 (Buy). Salesforce and Intuit each carry a Zacks Rank #3 (Hold). Shares of NOW, ADBE, CRM and INTU have rallied 40.7%, 41%, 61.1% and 14.6%, respectively, year to date. You can see the complete list of today's Zacks #1 Rank stocks here.