Salesforce (CRM) Expands Generative AI Tools With AI Cloud

Salesforce CRM 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-consensus-chart | Salesforce Inc. Quote

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.

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, ServiceNow NOW and Adobe ADBE.

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) Receives a Rating Update from a Top Analyst

In a report released yesterday, Alex Zukin from Wolfe Research maintained a Hold rating on Salesforce (CRM – Research Report). The company’s shares closed yesterday at $213.69.

Zukin covers the Technology sector, focusing on stocks such as Adobe, Microsoft, and Oracle. According to TipRanks, Zukin has an average return of 24.8% and a 67.44% success rate on recommended stocks.

In addition to Wolfe Research, Salesforce also received a Hold from Citi’s Tyler Radke in a report issued today. However, yesterday, Barclays maintained a Buy rating on Salesforce (NYSE: CRM).

See the top stocks recommended by analysts >>

CRM market cap is currently $208.1B and has a P/E ratio of 562.64.

Based on the recent corporate insider activity of 275 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRM in relation to earlier this year. Earlier this month, Tallapragada Srinivas, the Pres of CRM sold 150,344.00 shares for a total of $31,663,950.04.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform. The firm also provides guidance, support, training, and advisory services. The company was founded by Marc Russell Benioff, Parker Harris, David Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.

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Salesforce unveils generative AI products Marketing GPT and Commerce GPT

Salesforce, a customer relationship management company, has today introduced its latest generative AI product offerings, Marketing GPT and Commerce GPT. As per the company, with Marketing GPT, marketers will be able to automatically generate personalized emails, smarter audience segments, and marketing journeys. Using Commerce GPT, brands will be able to deliver personalised shopping experiences and customized offers that adapt to their customers’ needs, using GPT-powered dynamic buying journeys.

According to the company, Marketing GPT will empower marketers to deliver personalised, relevant, and engaging experiences across every touchpoint with generative AI and trusted first-party data from Data Cloud. Marketers will also be able to Segment Creation smartly giving marketers the ability to create audience segments quickly and improve targeting using natural language prompts and AI-driven recommendations based on trusted data from Data Cloud.

The company further claims that using Marketing GPT, marketers will be able to improve marketing ROI with Segment Intelligence for Data Cloud, which automatically connects first-party data, revenue data, and third-party paid media data for a more comprehensive view of audience engagement. Additionally, marketers will be able to deliver the right message at the right time with Rapid Identity Resolution, Segmentation, and Engagement, which automatically resolves customer identities and refreshes segments in Data Cloud to help ensure up-to-date accuracy.

Furthermore, Marketing GPT will leverage Typeface’s generative AI content platform to create contextual visual assets for multi-channel campaigns within Marketing GPT based on specific brand voice, style guides, and messaging.

The second product, Commerce GPT will enable companies to deliver customised commerce experiences at every step of the buyer’s journey with auto-generated insights and recommendations based on unified real-time data from Data Cloud.

According to the company, with Commerce GPT and Data Cloud, brands will be able to automate growth and conversion strategies while maximizing merchant productivity with Goals Based Commerce. Powered by Data Cloud, Einstein AI, and Flow, Goals-Based Commerce offers recommendations toward delivering desired outcomes, ranging from improving margins to increasing average order value (AOV).

Commerce GPT will supercharge merchant productivity with Dynamic Product Descriptions that automatically fill in missing catalog data for merchants with auto-generated product descriptions tailored to every buyer.

Salesforce partners like DEPT®, Media.Monks, NeuraFlash, and Slalom are building a generative AI ecosystem with new accelerators, large language and data models, and integrations to help businesses implement Marketing GPT and Commerce GPT with less cost and complexity.

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