Salesforce: Prioritizing Data Protection in the AI Era

by Warren Seah

At the recent Dreamforce conference, Salesforce Inc. Chair and Chief Executive, Marc Benioff, made it clear that the company’s primary focus is not profiting from customer data, but rather safeguarding that data when utilized in artificial intelligence (AI) applications.

Benioff emphasized during his keynote address that the AI revolution is synonymous with a trust revolution. He stated unequivocally, “Your data is not our product.”

In an industry where it is widely acknowledged that most companies monetize user data, Salesforce has differentiated itself by prioritizing data protection while empowering customers to leverage that data within AI applications.

To commence the annual Dreamforce conference, Salesforce CRM unveiled the latest updates to its intelligent Einstein AI product. Furthermore, the company announced seamless integration features with Alphabet Inc.’s GOOG GOOGL Google Workspace. Attendees were consistently reminded that they were part of the “biggest AI event of the year.”

Dreamforce, hosted at the renowned Moscone Center in San Francisco, will continue until Thursday.

Previously in late August: Salesforce prepares for the grandest AI show in the U.S., just weeks away.

Salesforce Introduces Next Generation Einstein AI

On Tuesday, Salesforce unveiled the latest iteration of its Einstein AI, called Einstein Copilot. This cutting-edge technology is integrated into every Salesforce application, including Slack. Alongside Einstein Copilot, Salesforce also introduced the Einstein 1 Platform. This platform empowers companies to establish secure connections with their data and develop AI-powered applications with low-code implementation. Ultimately, this advancement promises to revolutionize customer-relationship management experiences.

Currently, only about 29% of the more than 1,000 applications used by companies are successfully integrated. The remaining data utilized by these applications is fragmented. With Einstein Copilot and the accompanying Einstein Copilot Studio – a tool that enables users to construct their own prompts and models – Salesforce brings forth the “Einstein Trust Layer.” This layer ensures the protection of sensitive data while simultaneously allowing customers to harness it for enhanced generative AI responses.

In recent trading, Salesforce shares experienced a minor decline of 1.6%. In comparison, the Dow Jones Industrial Average saw a gain of 0.2%, the S&P 500 index declined by 0.4%, and the tech-heavy Nasdaq Composite experienced a decline of 0.8%.

FactSet data reveals that among the 51 analysts covering Salesforce shares, 36 have buy-grade ratings, 14 have hold ratings, and one has a sell rating. The average target price is $257.50.

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