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Salesforce (CRM) Banks on Generative AI for Long-Term Growth
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Salesforce (CRM - Free Report) is currently focusing on incorporating generative artificial intelligence (AI) tools across its products as it looks to keep its business ahead of rivals. 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 (LLM) and uses a lot of data to understand and generate conversations.
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 technology, which delivers AI-created content across every sales, services, marketing, commerce and IT interaction at hyperscale. With Einstein GPT, the company will transform customer experience with generative AI.
Upping its ante in the space, CRM launched its AI Cloud service in June 2023, which is the company’s one-stop AI-powered solution for enterprises looking to enhance productivity. 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 CRM’s products, including the Einstein service, data analysis software, Tableau and workplace-messaging app, Slack.
Investing Big on Generative AI
In March 2023, CRM raised its venture capital fund for generative AI to $500 million from $250 million. 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.
Last week, Salesforce announced that it has entered into a definitive agreement to acquire Airkit.ai, a startup that develops AI-powered customer service applications. However, the company didn’t disclose the financial terms of the agreement but expects to close the transaction during the second half of fiscal 2024.
Founded in 2017, Airkit.ai is a low-code platform that helps e-commerce companies build AI-powered customer engagement applications that can be deployed across multiple channels, including web, mobile and messaging apps.
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) .
In June 2023, 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’s GenOS features custom-trained financial 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.
Earlier this year, ServiceNow 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 create high-quality images and stunning text effects.
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Salesforce (CRM) Banks on Generative AI for Long-Term Growth
Salesforce (CRM - Free Report) is currently focusing on incorporating generative artificial intelligence (AI) tools across its products as it looks to keep its business ahead of rivals. 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 (LLM) and uses a lot of data to understand and generate conversations.
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 technology, which delivers AI-created content across every sales, services, marketing, commerce and IT interaction at hyperscale. With Einstein GPT, the company will transform customer experience with generative AI.
Upping its ante in the space, CRM launched its AI Cloud service in June 2023, which is the company’s one-stop AI-powered solution for enterprises looking to enhance productivity. 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 CRM’s products, including the Einstein service, data analysis software, Tableau and workplace-messaging app, Slack.
Investing Big on Generative AI
In March 2023, CRM raised its venture capital fund for generative AI to $500 million from $250 million. 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.
Last week, Salesforce announced that it has entered into a definitive agreement to acquire Airkit.ai, a startup that develops AI-powered customer service applications. However, the company didn’t disclose the financial terms of the agreement but expects to close the transaction during the second half of fiscal 2024.
Founded in 2017, Airkit.ai is a low-code platform that helps e-commerce companies build AI-powered customer engagement applications that can be deployed across multiple channels, including web, mobile and messaging apps.
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) .
In June 2023, 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’s GenOS features custom-trained financial 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.
Earlier this year, ServiceNow 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 create high-quality images and stunning text effects.