Our transformation drove our Q1 financial results. Each bot session is . Obviously, AI must be handled with care. In early 2023 ChatGPT burst onto the scene, showing the world that the future is already here. Thanks so much. Brian, do you want to come in and see if you can address that in more detail? We are going to roll Einstein GPT for our developers in the ecosystem, which will not only help not only the local developers to bridge the gap, where there's a talent gap, but also reduce the cost of implementations for a lot of people. This is not true in the consumer environment, but it is true for our customers, our enterprise customers who demand the highest levels of this capability. So, there are a lot of other techniques, which are very technical, which we put it on our block. This ended Q1 at 46.7 billion, up 11% year-over-year. 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? If you do, there will be no way to get your private key without manual help from their support team. 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. Thanks for the question. Einstein GPT has entered the chat. Watch the Video Join Us Supercharge productivity with Salesforce Einstein. Our Q1 results show that we continue to make great progress. Salesforce (CRM) Q1 2024 Earnings Call Transcript, Got $1,000? Can you just give us an idea of, you know, sort of your thoughts on that and really just the opportunity for you all to monetize AI with your product base? And we've led the industry through each of these cycles and I couldn't be more excited for our future as we continue on a path to our long-term goal to make Salesforce the largest most profitable enterprise software company in the world, and the number 1, safest and most trusted AI CRM. Learn about Slack . And we are raising our fiscal year 2024 operating cash flow growth to be approximately 16% to 17%, which now includes a 14 point to 16 point headwind from restructuring. Reduce costs and increase productivity to deliver success now. As a reminder, we will see an increase in our cash taxes in fiscal 2024 as we draw down our remaining net operating losses. We'll handle the model trust. Point. The strength in our Q1 performance is offset by the pressure in our professional services business previously discussed. So Marc, it feels like the tech and software industry has had a recession without the broader economy being in a recession quite yet, and that's very unusual. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Follow the steps below to get a CRM Analytics-enabled Developer Edition that comes with a limited CRM Analytics Platform license and contains the sample data required for this project. Sales Cloud Einstein AI-Driven Deal Insights Get the info you need to focus on the right deal at the right time. And what they are looking for us is guidance on how to solve that. Einstein Prediction Builder - Salesforce You're logged in to your Developer Edition, a Salesforce org with CRM Analytics enabled and all the necessary permissions defined. That's the base line. Thanks, Amy. A few months after ChatGPT entered the zeitgeist, Salesforce is nearly ready to launch its Einstein GPT service. Yes, Marc, thank you. As I mentioned, we've been doing this end-to-end comprehensive operating and go-to-market review. Thanks, Karl. What are the scenarios by which customers can experience this amazing productivity? They want every piece of data that they can consume, but through his regulatory standards, he cannot deliver all that data into the LLM because it becomes amalgamated. Great. We're getting close to the end of that process, and then we will be moving into the implementation. And like Marc was saying, we are seeing like the most common used case everybody understands implicitly is self-service bots or in the call center or agent-assistant assistance, which I think really helps productivity. If you already have a CRM Analytics-enabled Developer Edition org, you should still sign up for a new one now to ensure you get the latest and greatest features. With generative AI here to gobble up budgets of software behemoths, surely Salesforce's transformation from all-out-growth to profitable-growth is at risk, right? 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. Theres also the multi-label type of model, which returns all categories, sorted by probability, with the assumption that multiple categories applyi.e., the probabilities do not add up to 1. So there's a lot of value. Fahad is a Salesforce Certified Force.com Developer and web developer since 2011, including being a senior dev for clients like Honeywell. Sales Cloud Einstein - Salesforce Every CEO realizes they're going to have to invest in AI aggressively to remain competitive and Salesforce is going to be their trusted partner to get them to do just that. All it needs is a starting point in the form of a question, request, or even just the beginning of a sentence. This results in free cash flow growth of approximately 17% to 18% for the fiscal year. Einstein Intent prediction calls are as easy as: Here, could be something like, How can I get a tracking number for my shipment?. Well, I think that when you look at our artificial intelligence strategy, which we're talking to the largest, most important companies and governments in the world, it has to be architected around security. Salesforce Einstein Analytics Engineer New York, NY $81K - $116K (Glassdoor est.) And I'll just say that, of course, his primary focus is on productivity. Bachelor's degree in technology or engineering or related discipline. Make sure you're logged in to your Trailhead account. Einstein Lead Scoring - Salesforce Those are used cases. How big of an impact AI will have on the world remains to be seen, but it holds promise for investors. Of greatest importance will be defining how to keep live employees involved in the curating and refining Einstein's answers. Back. We are hyper focused on delivering the next wave of innovation led by Data Cloud and Einstein GPT. Thank you. And with all the generative AI hype surrounding ChatGPT, which was built using Nvidia (NVDA -1.11%) tech, commentary on the matter from Benioff was a near guarantee. They didn't graduate computer science degrees. That puts the company a bit ahead of schedule in reaching its previously stated goal of 10.8% GAAP operating margin and 27% non-GAAP operating margin for this full-fiscal year. And then I realized, wow, I think Slack could wake up, and it could become a tremendous asset with an LLM consuming all that data and driving it. This time youll get a page as shown below. The arrival of mainstream generative AI has raised a lot of questions about the future of work. Version 4 | Einstein Bots API and SDK | Salesforce Developers Once this is available to use then it will be published globally with a overview of all the relevant details. As Marc just talked about, this new AI wave is going to create a huge opportunity for us. LLM doesn't know. We have a lot of innovation around how to ground the data on 360 data, which is a huge advantage we have. For the first time, Salesforce was ranked number 1 in integration by market share in the latest IDC software tracker, a great testament to our MuleSoft team. We are keeping a very close eye on reinvestment, very excited particularly about artificial intelligence. AppExchange . So, imagine you're asked to fill in the blank: "In conversations, my partner and I finish each other's _______." Let's start with fiscal year 2024. People wonder if they'll be replaced with AI. We can see how Data Cloud and Einstein GPT are going to create experiences that weren't possible before and really drive growth. We all understand that. AI for Sales and CRM by Sales Cloud Einstein - Salesforce Executing on that, as well as having a very disciplined reinvestment strategy, and that led to that. What should be his prioritization? For the current model, we picked a stock iPhone X image for prediction. Salesforce last week made the AI-ready platform designed with OpenAI available for developers of allied apps and services. 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'm very proud of the teams and of our partners. And one of the things that we're talking quite a bit about right now is pricing and packaging, bringing together logical products that we can be selling in a single motion versus our go-to-market, which is largely aligned by product., how do we focus on a larger average deal size for every transaction, and so big investments on that front, really a strong focus on productivity as it relates to moving people up market as well. This assistant model is where we'll see a lot of uptick. Developers Find a Salesforce developer who can bring your custom project to life. The intelligence and automation that Tableau GPT provides is tremendously important in this area of hyperscale data that we're all entering. We expect these factors to persist, which is incorporated in our guidance. In fact, you may hear me say that several times on this call. It probably wont be long before generative AI is part of your everyday life. Underinvestment could mean missing the boat when there are secular shifts. The coming wave of generative AI will be more revolutionary than any technology innovation that's come before in our lifetime or maybe any lifetime. Sure. 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. We also recognize that the world of generative AI includes more than just ChatGPT. Salesforce - Salesforce Introduces New Einstein Services, Empowering Get Started with Einstein Unit | Salesforce Trailhead The CRPO guidance for 10% looks like a bit of a slowdown despite the easier comp. I think you hinted something very important. Now connect your new Developer Edition org to Trailhead. Our core offerings remain resilient. MuleSoft again delivered strong results with wins at Siemens, [Cinnova] [ph], and Vodafone. The way we are thinking of it is like anything else, where the world is going to go, which we strongly believe is going to be multiple models. And like every other sales call I've made in the last quarter, there's only one thing that customers want to talk about, and that's artificial intelligence and specifically, generative AI. Their focus on customer success continues to be outstanding. Hi, thank you. And as we look at some of the examples that we've given like at the New York World Tour, you saw our Marketing Cloud do something very cool that it couldn't do even just 6 months ago. First, sign up for a special, CRM Analytics-enabled, Developer Edition org so you can start working with CRM Analytics. Your line is open. All lines have been placed on mute to prevent any background noise. This includes AI tools that can create things like images or audio. Thank you very much. Well assume from here that youre using Salesforce (via a social account or not) instead of Heroku. Join. As they look to benefit from the intelligence automation and cost savings that Salesforce is uniquely positioned to deliver. I think you're referencing some comments we made on previous calls about enablement being an important strategy for us as we saw during the pandemic, not as many of our AEs and SEs and leaders were as enabled as we would like. But just any other factors we should keep in mind that may create a challenge over the next couple of months? Learn how more than 7,700 sales professionals are finding success now. That made GPT really good at predicting the next word of a sentence by using context. I think there is enough of low-hanging fruit in the initial phases with assistant model, which we'll solve. Sales Cloud Einstein and Sandbox - Salesforce In Q1, the Americas revenue grew 10%, EMEA grew 12% or 17% in constant currency. Our customers need to understand where their data is going and they must be able to maintain data integrity and access and privacy controls. Some of our comments today may contain forward-looking statements and are subject to risks, uncertainties, and assumptions, which could change. Your line is open. Sales. And Einstein GPT is the combination of tremendous research and engineering by our world-class AI team, and I'd like to congratulate them on this amazing result. Once the model is trained, you can now send an image, and the model will return probability values for each category weve defined. As Marc said, we're continuing our transformation across every part of our company. And this is always what we promise to our customers, we'll always future-proof. So, you're really looking at comparisons against that huge mega cycle. We give you a comprehensive introduction to the product so that you can bring the CRM Analytics edge to your Salesforce org. Now to guidance for Q2. You've described very well the GPT trust layer, which I think is going to be a significant amount of value added that we're going to provide to our customers that's going to be quite amazing. Learn more Service Einstein for Service Boost agent productivity, personalise every customer interaction with built-in AI, and scale service across every channel with Einstein Bots. And I'll add my congrats. This is similar to what you might have seen with auto-tagging on Facebook, except that its not limited to faces. Are we past the point of seeing disruption or could that be a future risk? And when will we go to an open source model like we've seen emerge so many of those, including like Llama. The more measured buying behavior persisted in Q1. And as Brian noted, in Q1, we started to see weakness in our professional services business. Our latest AI technology is Einstein GPT, which brings the incredible power of generative AI to the Salesforce Platform. Non-GAAP EPS is now expected to be $7.41 to $7.43. So there are a lot of trust issues we have to solve. If generative AI's promise of supercharging employee productivity pays off, Salesforce's sprawling operation could get the same efficiency boost as its software customers do. That's why we built this GPT trust layer. The use of AI has become increasingly prominent in business. I was very impressed with that. *Average returns of all recommendations since inception. As computing power increases, and research continues, generative AI will get better at creating work thats convincingly human-made. As Marc said, a key part of our transformation to profitable growth is short and long-term restructuring of the company. At our Tableau conference, we had over 8,000 in-person attendees. Not so! 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. What is going to be the key to actually delivering this now across regulated industries? Our focus on performance culture and operational excellence contributed to our strong first quarter results. Im really encouraged by the Slack team who has created an ambitious product roadmap with generative AI at the center. In Q1, we delivered 8.2 billion in revenue, up 11% year-over-year and 13% in constant currency. It's an incredible technology. We could not be more excited about our progress. And so, I think a bit of a slowdown from that perspective is a result you're seeing in the Americas business. A great example [of deploying] [ph] this technology is Gucci. So, you need ability to do this who can access this data, how is it doing both before the query and after the query, we have to build that. It were the actions that we took that we announced in January with the restructuring. And if so, how is it included in guidance. The app provides new AI-powered conversation summaries, research tools to learn about any topic, and writing assistance to quickly draft messages. However, you can sign-up and fill this form to learn. And our Salesforce AI research has a lot of sales for state-of-the-art models and industry cases, which we are optimizing to run at very low cost and high value.
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