Salesforce (NASDAQ:CRM) has set its sights on integrating generative artificial intelligence (AI) tools across its product lineup, positioning itself for a competitive edge in the market. Generative AI is a specialized AI technology capable of generating various types of content, including text, images, audio, and synthetic data. Powered by extensive data and a large language model (LLM), generative AI understands and generates conversations.

Salesforce ventured into the generative AI arena with the launch of Einstein GPT in March 2023. Einstein GPT represents the world’s first generative AI CRM technology, revolutionizing customer experiences by delivering AI-generated content across sales, services, marketing, commerce, and IT interactions on a massive scale.

Expanding its presence in this domain, Salesforce introduced its AI Cloud service in June 2023. AI Cloud serves as Salesforce’s comprehensive AI-driven solution for enterprises seeking to enhance productivity. It encompasses a suite of services delivering real-time, open, and secure generative experiences across all applications and workflows. This suite is poised to empower new capabilities across Salesforce’s product portfolio, including the Einstein service, data analysis software, Tableau, and the workplace-messaging app Slack.

Commitment to Generative AI Investment

In a move to solidify its commitment to generative AI, Salesforce increased its venture capital fund for this technology to $500 million in March 2023, up from $250 million. Salesforce Ventures, the company’s global investment arm, will leverage this augmented fund to foster the generative AI ecosystem and promote the development of responsible and trustworthy technology.

Recently, Salesforce revealed plans to acquire Airkit.ai, a startup specializing in AI-powered customer service applications. While the financial terms of the agreement were not disclosed, the transaction is expected to be finalized during the second half of fiscal 2024.

Airkit.ai, founded in 2017, offers a low-code platform that assists e-commerce firms in constructing AI-driven customer engagement applications deployable across various channels, including web, mobile, and messaging apps.

 

Generative AI Adoption Beyond Salesforce

Generative AI technology has found applications in diverse sectors such as marketing, advertising, drug development, legal contracts, video gaming, customer support, and digital art. Major tech players, including Intuit, ServiceNow, and Adobe, are engaged in fierce competition in this field.

In June 2023, Intuit introduced GenOS, its proprietary generative AI operating system, aimed at enabling the development and deployment of innovative generative AI experiences for millions of customers, especially small businesses. GenOS features custom-trained financial LLMs specializing in solving various financial challenges while providing actionable insights.

ServiceNow, earlier this year, unveiled generative AI capabilities, including the ServiceNow Generative AI Controller and Now Assist for Search, enhancing workflow automation and intelligence.

Adobe has aggressively expanded its presence in the generative AI arena through partnerships and new solutions. Adobe’s Firefly, a family of generative AI models, focuses on generating text and images, promising greater precision, speed, power, and ease in content creation, including high-quality images and captivating text effects.

Featured Image: Freepik © pikisuperstar

Please See Disclaimer