Salesforce AI CEO speaks about the company's generative AI push

CNBC Television
2 Apr 202403:34

TLDRThe video script discusses the impact of AI on businesses, particularly focusing on Salesforce's Einstein AI tools. It highlights the positive customer response to these AI products, emphasizing the significant productivity gains across various industries. The conversation also touches on the monetization strategies for Einstein AI, including new editions and add-on seats. The script underscores the role of AI in enhancing efficiency and productivity, with examples of service representatives benefiting from AI's ability to manage routine tasks, leading to faster resolution times and improved customer satisfaction. Additionally, it explores the potential for generative AI to improve margins within Salesforce itself.

Takeaways

  • 📉 The tech and AI sectors are currently experiencing a pullback in market performance.
  • 🚀 Customer response to AI products and platforms, such as Slack AI and Einstein, has been tremendous, leading to significant productivity gains.
  • 💡 The shift from pilot to production with AI tools is driven by visible business outcomes and customer satisfaction.
  • 💸 There is a willingness among customers to increase spending on AI products where they see a clear return on investment.
  • 🛠️ Salesforce offers a new Einstein 1 edition for sales and service, bundling features like AI, data cloud, and Slack for industry-specific needs.
  • 📈 AI adoption is widespread across various industries, including financial services, healthcare, life sciences, and the public sector.
  • 🌟 AI's ability to unlock data silos and automate mundane tasks enhances efficiency and productivity within companies.
  • 💬 Service representatives can provide faster resolutions and improve customer satisfaction through AI's assistance.
  • 📊 AI implementation within Salesforce has allowed the company to adapt its products and improve profitability.
  • 🔄 Generative AI tools like Einstein GPT are being used internally at Salesforce for tasks such as account summaries and email generation.

Q & A

  • What is the current trend observed in the tech industry regarding AI?

    -There is a pullback in some of the tech names, particularly among AI winners, as they are currently experiencing a period of adjustment.

  • How do customers respond to Salesforce's AI products and platforms?

    -The customer response has been tremendous, with users across various departments such as service, marketing, and commerce management, experiencing significant productivity gains.

  • What does the Einstein Co-Pilot do for users?

    -Einstein Co-Pilot is a generative AI tool that aids users by automating mundane tasks and enhancing productivity, leading to faster resolution times and improved customer satisfaction scores.

  • How is Salesforce monetizing its AI offerings?

    -Salesforce offers a new Einstein 1 Edition for sales and service, which includes AI, data cloud, Slack, and other features. Additionally, they provide add-on seats for specific AI components that customers can purchase as needed.

  • Which industries are showing a quick adoption of generative AI tools?

    -Adoption is broad and not limited to specific sectors. It spans across financial services, health and life sciences, pharma, and the public sector, indicating a universal demand for AI integration.

  • How does AI impact efficiency and productivity within Salesforce itself?

    -By integrating AI into their own products, Salesforce sellers and support teams have seen improvements in efficiency, such as faster response times to customer queries and reduced time spent on routine tasks.

  • What is the potential impact of generative AI on profitability for companies?

    -Generative AI can help improve margins by streamlining processes, reducing the need for manual labor, and enhancing overall productivity, thus contributing to better financial performance.

  • How does the data integration with AI create opportunities for businesses?

    -Integrating data and AI unlocks previously untapped potential within organizations, allowing for more informed decision-making and innovation, leading to better business outcomes.

  • What is the role of AI in breaking down information silos within a company?

    -AI helps break down silos by aggregating and analyzing data from various sources, providing a more comprehensive view of the company's operations and enabling more effective strategies.

  • How does the Einstein platform support different industry-specific needs?

    -The Einstein platform offers industry-specific solutions by integrating with Salesforce's ecosystem, including data cloud, Slack, and other features tailored to the unique requirements of each sector.

  • What are some of the key advantages of using AI in customer service?

    -AI in customer service allows for quicker response times, more accurate information retrieval, and personalized assistance, leading to higher customer satisfaction and more efficient use of resources.

Outlines

00:00

🚀 Increasing AI Investment and Customer Response

The paragraph discusses the current trend of increased investment in AI technologies, particularly among tech companies and AI winners. It highlights the customer response to AI products and platforms, such as Slack AI and generative AI tools like Einstein Co-Pilot. The conversation emphasizes the tremendous productivity gains observed in service users, marketers, and commerce managers who utilize these AI tools. The discussion further explores the monetization strategies of these AI products, including the introduction of a new Einstein 1 edition for sales and service, and the availability of add-on seats for specific AI components. The impact of AI on efficiency across various industries is also touched upon, with a particular focus on how AI enhances customer satisfaction and resolution times.

Mindmap

Keywords

💡Tech industry

The tech industry refers to the segment of the economy that encompasses all companies related to technology, especially those involved in computing, internet-based services, and electronics. In the video, the tech industry is mentioned in the context of a pullback in some tech names and AI winners, indicating a shift in market trends and investor focus towards certain technology companies.

💡AI tools

AI tools refer to software applications and platforms that utilize artificial intelligence to perform tasks, automate processes, and enhance productivity. In the context of the video, AI tools are generative and are used to improve customer experiences and business operations. These tools are seen as a key driver of increased spending and productivity gains in various industries.

💡Productivity gains

Productivity gains refer to improvements in the efficiency and output of work, often resulting from the adoption of new technologies or processes. In the video, the term is used to describe the positive impact of AI products and platforms on businesses, leading to better business outcomes and a willingness among customers to transition from pilot to production phases.

💡Einstein Co-Pilot

Einstein Co-Pilot is an AI-powered tool designed to assist users in various tasks, potentially including sales, service, and data analysis. The name 'Einstein' is likely used to evoke the idea of intelligence and innovation, while 'Co-Pilot' suggests a collaborative role in helping users achieve their goals. In the video, Einstein Co-Pilot is presented as a key product that has been well-received by customers and has contributed to notable improvements in their operations.

💡Business outcomes

Business outcomes refer to the measurable results or achievements that a company aims to accomplish through its operations, strategies, and investments. These outcomes are typically aligned with the company's goals and can include increased revenue, improved customer satisfaction, or enhanced market position. In the video, the emphasis on business outcomes underscores the importance of AI tools in delivering tangible benefits to companies.

💡Monetization

Monetization refers to the process of generating revenue from a product, service, or asset. In the context of the video, it involves strategies employed by the company to earn money from their AI offerings, such as Einstein Co-Pilot. This could include selling subscriptions, offering add-on features, or packaging services in a way that appeals to customers and maximizes profitability.

💡Salesforce

Salesforce is a global cloud computing company best known for its customer relationship management (CRM) software. The platform helps businesses manage their interactions with customers and partners. In the video, Salesforce is mentioned as the provider of Einstein AI and other services, indicating its role in offering AI-driven solutions to a wide range of industries.

💡Service representatives

Service representatives are individuals who work in customer service roles, assisting clients with inquiries, issues, and support. In the context of the video, service representatives are benefiting from AI tools that help them provide faster and more effective customer service, leading to improved efficiency and customer satisfaction.

💡Data silos

Data silos refer to the separation of data into distinct, unrelated databases or systems, which can hinder the flow of information and make it difficult to get a comprehensive view of the data. In the video, the breaking down of data silos is presented as a positive development that unlocks new possibilities for businesses by integrating and analyzing data more effectively.

💡Margins

Margins in a business context refer to the difference between a company's revenue and the cost of producing its goods or services. Higher margins indicate greater profitability. In the video, the discussion around margins relates to how AI tools, like Einstein, can potentially improve a company's profitability by increasing efficiency and reducing costs.

💡Generative AI

Generative AI refers to artificial intelligence systems that can create new content, such as text, images, or data, based on patterns and information they have learned. In the video, generative AI is highlighted as a key technology that is being rapidly adopted across various industries, demonstrating its versatility and potential to transform different sectors.

Highlights

The pullback in some tech and AI winners is currently being observed.

There is an anticipation of increased spending on generative AI tools in the upcoming year.

Einstein Co-Pilot and generative AI tools are being utilized by customers, resulting in significant productivity gains.

The customer response to AI products and platforms, including Slack AI, has been tremendous.

Productivity gains are inspiring customers to transition from pilot to production with AI tools.

Business outcomes are a key factor driving customer spending on AI tools.

Salesforce offers a new Einstein 1 Edition that includes AI, Data Cloud, and Slack for sales and service.

Add-on seats for Einstein AI are available for specific customer needs.

AI tools are being adopted across every industry, from financial services to health and public sector.

AI and data integration is transforming organizations by unlocking tremendous possibilities.

Service representatives are benefiting from AI by reducing the time spent on mundane tasks.

Customers are experiencing faster resolution times and increased satisfaction due to AI implementation.

AI is impacting efficiency and productivity at Salesforce itself, improving profitability.

Salesforce sellers use the platform daily, providing direct feedback on AI tools.

Einstein GPT for Sales is being tested and adapted internally at Salesforce.

AI's role in improving margins and profitability within the company is being explored.

The adaptability of Salesforce's own products is a key strength in staying competitive.

Account summaries and email generation are examples of AI applications within Salesforce.

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