Salesforce reports a strong revenue outlook for the current period, exceeding analyst estimates, driven by increased adoption of its AI tools like Agentforce, which has secured over 9,500 paid deals. The company's revenue is expected to be between $11.1 billion and $11.2 billion, with growth partly fueled by its recent $8 billion acquisition of Informatica. Despite some challenges in customer adoption and competition, Salesforce remains optimistic about the future impact of its AI products.
Salesforce CEO Marc Benioff is expanding the company's AI-driven platform with Agentforce, which now includes an entry into the IT service management space, traditionally dominated by ServiceNow, aiming to leverage existing customer bases and data integration to compete in a rapidly growing market.
Salesforce CEO Marc Benioff is expanding the company's AI-driven platform, Agentforce, into the IT service management (ITSM) market, challenging industry leader ServiceNow. With a focus on integrating AI agents across Salesforce's cloud services, the move aims to capture a share of the growing $13.5 billion ITSM market, potentially generating hundreds of millions in revenue. Benioff emphasizes that Agentforce is central to Salesforce's ecosystem, not a separate entity, and highlights successful deployments at companies like FedEx and Dell. The strategy leverages Salesforce's extensive customer base and data infrastructure to compete in new enterprise territories.
Salesforce reports that its use of AI in customer service has saved approximately $100 million annually, with over 12,000 customers adopting its Agentforce product, leading to significant efficiency improvements and workforce reductions.
Salesforce's quarterly sales growth was modest, with concerns about AI's impact on traditional software revenue, despite CEO optimism about AI products like Agentforce. The company's revenue slightly missed estimates, and its stock declined amid investor skepticism about AI's disruptive potential in enterprise software.
Salesforce CEO Marc Benioff is enthusiastic about the company's new AI agent platform, Agentforce, which has already secured 200 deals in its first quarter. The platform is expected to significantly boost Salesforce's revenue, with projections now reaching $37.8 to $38 billion for the fiscal year. Benioff envisions AI agents as digital collaborators that can work continuously, potentially transforming the workforce landscape. Despite the rise of AI, Salesforce plans to hire 1,400 salespeople to meet the growing demand for Agentforce, highlighting a blend of human and AI collaboration in the enterprise sector.
