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Zoom Video (ZM) Enhances AI for Productivity and Collaboration

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Zoom Video Communications, Inc. (ZM - Free Report) announced the general availability of new features across Zoom Workplace, including enhanced capabilities for its AI Companion in Zoom Meetings and Zoom Team Chat. AI Companion, a generative AI assistant available at no extra cost, now offers quick reply drafting in Team Chat, along with improved customization and personalization options for organizations.

AI Companion supports today's workforce by enhancing communication whether users are in the office, at home, or on the move. It can now suggest short, contextual replies for Team Chat on mobile devices, helping users stay connected and aligned with their teams from anywhere.

AI Companion aims to alleviate the burden of tedious tasks that can hinder creativity and productivity. The new global search feature further enhances productivity by enabling users to efficiently find information across various Zoom platforms, including meeting recordings, messages, files and more.

Additionally, AI Companion now supports Learning Tools Interoperability, enabling educators to easily access and share meeting summaries with students. To boost employee engagement, the integration of Workvivo TV with Zoom Rooms allows for the instant broadcast of critical company news and updates across multiple locations.

ZM’s Recent Security Updates in Workplace to Boost Enterprise Customers

Zoom recently announced the global availability of post-quantum end-to-end encryption (E2EE) for Zoom Workplace, specifically for Zoom Meetings, with plans to extend this security feature to Zoom Phone and Zoom Rooms soon.

This advancement makes Zoom the first Unified Communications as a Service (UCaaS) provider to offer post-quantum E2EE for video conferencing. As security threats grow more sophisticated, Zoom's proactive approach involves upgrading encryption algorithms to withstand potential future threats from quantum computing.

Zoom’s post-quantum E2EE ensures that only meeting participants have access to the encryption keys, making data transmitted through Zoom's servers indecipherable without the necessary keys. This initiative is part of Zoom's continuous efforts to adapt to the evolving security landscape and provide robust protection for user data.

These recent advancements are expected to boost enterprise customers, as well as the company’s top-line growth.

The Zacks Consensus Estimate for ZM’s fiscal 2025 enterprise customers is pegged at 228,310, indicating year-over-year growth of 3.6%. The Zacks Consensus Estimate for fiscal 2025 revenues is pegged at $4.6 billion, indicating year-over-year growth of 1.62%.

Shares of this Zacks Rank #3 (Hold) company have lost 11.2% year to date against the Zacks Computer and Technology sector’s growth of 16.5% due to the tough competition from Microsoft (MSFT - Free Report) , Alphabet (GOOGL - Free Report) and Salesforce (CRM - Free Report) in the cloud communications market. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Microsoft Teams is a versatile platform that facilitates chatting, video meetings, file storage, and the use of various apps. Recently, it introduced a new feature called meeting recap, which includes the generation of meeting transcripts. The Teams Premium offering, Intelligent Recap, leverages AI to take this a step further by recognizing spoken names and discussed topics, organizing and summarizing the meeting into sections, and suggesting action items based on the meeting content.

Alphabet’s Google Meet excels in scheduling and joining meetings directly from email and calendar apps, a feature that gives it an advantage over Zoom. The platform is enhancing the Google Meet experience with improvements in studio lighting and sound as part of its Duet AI integration announced last year. These enhancements are currently available to users or organizations with the Duet AI for Google Workspace Enterprise add-on.

Slack, developed by Slack Technologies and owned by Salesforce since 2020, is a cloud-based platform designed for team communication. It offers both free and paid subscriptions, allowing users to send text messages, share files and media, make voice and video calls, and participate in group chats, thereby facilitating efficient team collaboration.

Zoom has been actively enhancing its platform with AI integration and making more features generally available to remain competitive in the cloud communications market. With its recent advancements, Zoom aims to maintain its edge and effectively counter the competition.

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