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Salesforce enhances AI tools for marketing and commerce

EditorNatashya Angelica
Published 2024-05-22, 01:48 p/m
© Reuters.
CRM
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SAN FRANCISCO - Salesforce (NYSE: NYSE:CRM), a leader in customer relationship management software, has announced the expansion of its Einstein Copilot capabilities to aid marketers and merchants in streamlining their tasks. The announcement, made today at the company's Connections event, introduces new features designed to automate the creation of campaign briefs, personalized content, and promotions using trusted data.

The newly unveiled Einstein Copilot for Marketers and Copilot for Merchants utilize artificial intelligence to assist in campaign creation and commerce tasks. For instance, a retailer could use Einstein Copilot for Marketers to quickly generate a campaign targeting previous customers with personalized product offers. Similarly, Einstein Copilot for Merchants can help set up online storefronts and create SEO-optimized product descriptions to improve sales conversions.

Additionally, Salesforce has introduced Data Cloud for Commerce, a tool that unifies business and customer data, providing a comprehensive view that can be leveraged across the entire customer journey. This integration aims to enhance personalized promotions and shopping experiences, thereby increasing customer loyalty and sales.

A key innovation is Einstein Personalization, an AI-based decision engine that enables brands to deliver real-time personalized marketing campaigns based on customer data from Data Cloud. This feature allows for automatic triggering of the next best offers and content, adjusting to customer interactions with a brand in real-time.

Salesforce's new tools are built on the Einstein 1 Platform, which is unique for its use of company-specific data and metadata. This allows the AI to interpret prompts with full context, while the Einstein Trust Layer maintains data confidentiality and compliance.

The company's commitment to enhancing AI capabilities for marketers and merchants addresses a critical need for personalization in customer engagement. Despite the high customer expectation for personalized experiences, many businesses struggle to integrate data insights effectively.

Einstein Copilot for Marketers is set to be generally available in summer 2024, with Copilot for Merchants following in a beta version in fall 2024. Data Cloud for Commerce will be available for B2B commerce customers in summer 2024 and B2C commerce customers in fall 2024. Einstein Personalization will enter restricted general availability in summer 2024.

This expansion of Salesforce's AI suite is based on a press release statement and reflects the company's ongoing efforts to provide tools that harness trusted AI to improve business outcomes and customer experiences.

InvestingPro Insights

As Salesforce (NYSE: CRM) continues to innovate with AI-driven tools for marketers and merchants, the company's financial metrics and market performance provide valuable insights for investors. Salesforce boasts a substantial market capitalization of $275.25 billion, underscoring its prominence as a leading player in the software industry—an aspect highlighted in one of the InvestingPro Tips.

With a P/E ratio (adjusted for the last twelve months as of Q4 2024) of 52.31, Salesforce is trading at a high earnings multiple. This may reflect investor confidence in the company's growth prospects and its ability to leverage AI for market advantage. The company's revenue growth remains robust, with an 11.18% increase over the last twelve months as of Q4 2024, showcasing its ability to expand and capture market share.

An InvestingPro Tip notes that Salesforce is expected to be profitable this year, a prediction supported by its recent revenue growth and gross profit margin of 75.5%. The company's ability to generate a high return over the last decade, coupled with a significant price uptick of 26.93% over the last six months, may interest long-term investors.

For those looking to delve deeper into Salesforce's financials and market performance, additional InvestingPro Tips are available at https://www.investing.com/pro/CRM. Readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a total of 11 InvestingPro Tips that provide further analysis and insights.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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