Salesforce (NYSE:CRM) is placing a strategic emphasis on integrating generative artificial intelligence (AI) tools throughout its product portfolio, positioning itself at the forefront of innovation within the industry. Generative AI is a cutting-edge technology capable of producing a wide range of content, including text, imagery, audio, and synthetic data. This technology is powered by large language models (LLMs) and relies on extensive data to comprehend and generate conversations effectively.
In March 2023, Salesforce made its entry into the generative AI arena with the launch of Einstein GPT, a groundbreaking generative AI customer relationship management (CRM) technology. Einstein GPT stands as the world’s first generative AI CRM solution, offering AI-generated content across all interactions, spanning sales, services, marketing, commerce, and IT, at an unprecedented scale. With Einstein GPT, Salesforce is poised to revolutionize the customer experience through generative AI.
Further strengthening its presence in this space, CRM unveiled its AI Cloud service in June 2023. This comprehensive offering serves as Salesforce’s one-stop AI-powered solution tailored for enterprises seeking productivity enhancements. The AI Cloud comprises a suite of services designed to deliver enterprise-ready, real-time, open, and secure generative experiences across all applications and workflows. This suite will fuel new capabilities across Salesforce’s products, including the Einstein service, data analysis software, Tableau, and the workplace messaging app, Slack.
Significant Investment in Generative AI
In a notable move, Salesforce bolstered its venture capital fund for generative AI in March 2023, increasing it from $250 million to $500 million. This expanded fund, managed by Salesforce Ventures, the company’s global investment arm, aims to support the growth of the generative AI ecosystem and promote the responsible development of trusted technology.
Just recently, Salesforce announced its definitive agreement to acquire Airkit.ai, a startup specializing in AI-powered customer service applications. While the financial terms of the agreement remain undisclosed, the transaction is expected to close during the second half of fiscal 2024. Founded in 2017, Airkit.ai offers a low-code platform that enables e-commerce companies to develop AI-driven customer engagement applications deployable across various channels, including web, mobile, and messaging apps.
Generative AI Integration by Other Companies
Generative AI technology is rapidly finding applications across various sectors, including marketing, advertising, drug development, legal contracts, video gaming, customer support, and digital art. This surge of interest has ignited fierce competition among leading tech giants, including Intuit, ServiceNow, and Adobe.
In June 2023, Intuit introduced GenOS, its proprietary generative AI operating system. GenOS empowers Intuit to create and deploy breakthrough generative AI experiences, benefiting millions of customers, including small businesses. The system includes custom-trained financial LLMs specialized in resolving tax, accounting, marketing, cash flow, and personal finance challenges. Combined with domain experts and stringent data protection controls, GenOS aims to provide actionable insights and facilitate interactions with human experts.
ServiceNow also entered the generative AI arena earlier this year, launching generative AI capabilities such as the ServiceNow Generative AI Controller and Now Assist for Search. These innovations, integrated into the Now platform, accelerate intelligent workflow automation and enhance productivity.
Digital media solutions provider Adobe has been making substantial strides in generative AI through partnerships and novel solutions. Adobe introduced a family of generative AI models called Firefly, focusing on text and image generation. Firefly is set to offer superior precision, speed, power, and ease in content creation, empowering users to craft high-quality images and captivating text effects.
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