The Americans did see a deceleration, a 10% year-on-year revenue growth, compared to 17% in EMEA and about 24% in nominal APAC. Theyre skeptical about the quality of what generative AI produces. Launching today are: ChatGPT for Slack, built by OpenAI: In addition, Salesforce and OpenAI today announced the ChatGPT for Slack app. The jury is still out on that. Developers Find a Salesforce developer who can bring your custom project to life. Every CEO I've spoken with sees AI as a revolution beginning and ending with the customer, and every CIO I've spoken with wants more productivity, more automation, and more intelligence through using AI. Marc, you talked about a super cycle of buying and technology in the years ahead. It's early on in this "new AI" movement, but it does indeed look like a revolution. Marc Benioff Predicts Generative AI Will Be "Revolutionary" -- But Will Einstein GPT is built right into Salesforce, so it can use your own data to custom-tailor everything it generates to your unique business. We're working with them to augment their client advisors by building AI chat technology that creates a Guccified [indiscernible] service, well, incredible new voice, amplifying brands, storytelling and incremental sales as well. It's also a research area, too. So clearly, a big motion for us right now. Click. Integration and API Management; No-Code Integration and Automation; Robotic Process Automation; MuleSoft Integration Pricing; Slack. Salesforce (CRM) Q1 2024 Earnings Call Transcript, Got $1,000? With Einstein GPT, customers can then connect that data to OpenAIs advanced AI models out of the box, or choose their own external model and use natural-language prompts directly within their Salesforce CRM to generate content that continuously adapts to changing customer information and needs in real time. Once the model is trained, you can now send an image, and the model will return probability values for each category weve defined. So, unless you put the layer both before who can access the data and then when it generates response, what he can do, you don't want one wealth manager to generally generate a report, an account report where you're mixing customers' balances. Login. And so, we are really focused on this productivity measure and metric for our organization right now, investing heavily, as I mentioned earlier, and the enablement part of our organization. developer.salesforce.com/promotions/orgs/analytics-de. In terms of enablement of the sales organization, its ability to kind of move forward, that is not, I would say, a material part of what happened in the quarter or what's going to happen for the year. This includes a 910 basis points headwind from restructuring. Your next question comes from the line of Raimo Lenschow with Barclays. It's about the "cheapest" valuation Salesforce has ever traded for, though. Like Marc mentioned, we already do 1 trillion transactions per day. And I think in each of these areas, we can offer more value, but we must do it in the auspices of trust, data integrity and governance. So, we are going to run this and pick very we are going to pick a very cost-optimized curve, so the value is very high. Thanks very much and congrats on a good start to the year. Investors want to see tightening up on expenses to generate more robust profit margins and free cash flow generation. I think the key is innovations we are doing, which people will see starting next month is around what we call [from generation] [ph] and grounding. We are continuing to see most of the pressure in North America. Einstein analyzes your past leads to determine which current leads have the most in common with leads that have previously converted. We're going to leverage the Metadata platform and do this grounding automatically for our customers, of course, while keeping the trust. Well, I'll tell you that. And then the second stage, which is really as we've been going through this comprehensive operating and go-to-market review, that review is going to enable the second phase of our transformation, and that's something that's going to be ongoing and long-term over the next few years. He wants every banker to be able to rewrite a mortgage, but not every banker can, because writing the mortgage takes a lot of technical expertise. We had some amazing wins in the quarter with Northwell Health, Paramount, Siemens, Spotify, NASA . On selecting any of the above option, you will be redirected to their respective login pages. ChatGPT powers up Salesforce's Einstein AI - TechRepublic And through Q1, we've now returned more than $6 billion in share repurchases. Let us integrate Einstein OCR in Salesforce for extracting form data. They can be sure that the customer data is where they know it is, where they can be assured that it is for their compliance and for their governance. Those are used cases. Thank you, Brian. So when we launch new AI technology, we can help our customers navigate these difficult waters to do the business of business smarter and fairer. The process involves a bit of backtracking, so youll want to pay close attention to these steps. If you do, there will be no way to get your private key without manual help from their support team. And because ChatGPT was released for anyone to use, people experienced first-hand how well it could hold a natural-sounding conversation. Integration of Einstein GPT, Salesforce's LLM into Slack. While they're using the LLMs, the data itself is not moving and being stored in the LLM. So how does it generate such convincing text? For Q2, we expect GAAP EPS of $0.79 to $0.80 and non-GAAP EPS of $1.89 to $1.90. It's definitely not just the technology of this lifetime, but maybe any lifetime. Nevertheless, Salesforce is ready to help its customers embrace the moment, and it was (for Salesforce, anyways) a quick process to implement. In Q1, we delivered 8.2 billion in revenue, up 11% year over year and 13% in constant currency. Hi, thank you very much team. And through the GPT trust layer and rebuilding all of our apps, including Slack and Tableau, but as we demonstrated him yesterday, a new Sales Cloud, a new Service Cloud, a new marketing cloud, and what we'll show on June 12 in New York City, a complete reconceptualization of our product line. For purposes of CRPO, we only include projected revenue from fixed fee deals. You're likely to choose the word "sentences," and so is GPT. Video Series Stream our Connections video series. Salesforce's Thierry Nicault on how Einstein GPT transforms customer Not only do you have the free version of Slack, not only do you have the per user version of Slack, but then you have the additional LLM version of Slack. On our last call in March, we told you about how Salesforce had radically accelerated our transformation to profitable growth. You mentioned removing some layers here. I met with hundreds of customers in the quarter and we hosted 700 meetings in our innovation centers with our top customers and prospects. And just yesterday, I'm in a room here at the top of Salesforce Tower on the 60th floor, and we have the CEO of a very large bank here. Increase on open rates on new product email to 71% as compared to 815% open rates without Einstein. The question remains whether this generative AI movement will be revolutionary for Salesforce's stock. After that, youll set a new passwordeven if you created your account with the help of an external authorization partner like Googleand be redirected, again, to the tour page. Now to guidance for Q2. At any rate, AI does promise to dramatically alter workforce productivity -- the white-collar workforce in particular -- over the next decade. We can see how Data Cloud and Einstein GPT are going to create experiences that weren't possible before and really drive growth. Integration with OpenAI: Salesforce is combining OpenAIs enterprise-grade ChatGPT technology with Salesforces private AI models to deliver relevant and trusted AI-generated content. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. And that is where my head is at, which is I am constantly comparing against what happened in 2021, but also looking at 2020 and 2019. For our guide for this next quarter, we are seeing some pressures from the macro situation and then also specifically from professional services. Your line is open. Share Improve this answer Follow answered Mar 10 at 17:53 Vinay 2,580 1 5 7 thanks. The arrival of mainstream generative AI has raised a lot of questions about the future of work. And I'm so grateful to them for how they supported the whole company, all the customers and themselves during what was probably one of the most disruptive quarters that I've seen and yet we delivered these incredible numbers and this incredible technology vision going forward. As Marc just talked about, this new AI wave is going to create a huge opportunity for us. Assuming all the images are uploaded successfully, the response will have a datasetId (repeated as the main id and once per category), which will be used in future calls. As you know, we're operating in a constrained environment right now. Thank you so much. Salesforce - Salesforce Introduces New Einstein Services, Empowering And Srini, do you want to come in and talk about exactly what we're doing to make sure that we're delivering the best possible solutions for our customers for AI? In this Quick Look badge, you learn about GPT and how it fits into the larger concept of generative AI. Making the world smarter, happier, and richer. Okay, let's get this out of the way: GPT stands for generative pre-trained transformer, which means a lot to AI researchers but not so much to you and me. I think when we think about our business from an industry perspective, we have a very nice footprint of our great technology companies and financial services company, both of which were a bit slower than we would have liked in the Americas in Q1. And I that's also what gives me tremendous confidence going forward and what we're really seeing is that customers are absorbing the huge amounts of technology that they bought. The app provides new AI-powered conversation summaries, research tools to learn about any topic, and writing assistance to quickly draft messages. Based on current year guidance, Salesforce stock trades for 79 times expected EPS, or 29 times adjusted EPS. Underinvestment could mean missing the boat when there are secular shifts. And for the last 6 years, we've had an AI ethics group developing these principles. Once you have a Salesforce (or Heroku) account, enabling API access (and obtaining a private key) is done via the Einstein signup page at https://api.einstein.ai/signup whether you plan to use the API in a Salesforce app or non-Salesforce app. (If you want to learn about the admin work for enabling and setting up CRM Analytics, check out the trail called Build and Administer CRM Analytics.). Please. Pay Attention to This Semiconductor Stock Instead, If History Repeats, 1 Widely Owned Commodity Is Set to Skyrocket, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, unlock all sorts of efficiency gains for knowledge workers, Copyright, Trademark and Patent Information. Good afternoon. The problem is, Salesforce came under intense scrutiny during the 2022 bear market. We're increasing our margin guidance and sales forces leading the way as the number one AI CRM. Were excited to apply the power of OpenAIs technology to CRM, said Sam Altman, CEO of OpenAI. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Our customers need to understand where their data is going and they must be able to maintain data integrity and access and privacy controls. Dont leave this page before downloading your private key, even though it may say you need to verify your email! You can log in using your Salesforce or Heroku credentials. The world's most recognized companies are relying on Salesforce more than 90% of the Fortune 100 used Salesforce and they average more than five of our clouds. And then we have to be not only open, but also optimized. So, we're able to ground these models and do it. In all cases, customers are going to be more productive. And one more amazing result, this week, Einstein, Salesforce Einstein that we've been talking about for so many years on these calls, will generate an incredible 1 trillion predictions for our customers, an incredible milestone on our AI journey.
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