Salesforce will put $500 million into generative AI startups.
Salesforce, a leading enterprise software company, has pledged to invest $500 million in generative artificial intelligence (AI) startups as part of its Generative AI Fund. This investment is an expansion from its previous commitment of $250 million. The aim of the fund is to support startups working on responsible generative AI solutions.
Salesforce Ventures managing partner, Paul Drews, stated that this increased investment will allow the company to collaborate with more entrepreneurs and accelerate the development of transformative AI solutions for the enterprise sector. He emphasized that AI is already changing the way the world operates, and they are enthusiastic about leveraging the momentum of their Generative AI fund.
In addition to the investment announcement, Salesforce introduced AI Cloud, a suite of capabilities designed to provide trusted, open, and real-time generative experiences across various applications and workflows. The Einstein GPT Trust Layer, a part of AI Cloud, addresses concerns regarding the risks associated with adopting generative AI. It enables customers to meet their enterprise data security and compliance requirements while benefiting from generative AI.
Salesforce’s AI Cloud is centered around Einstein, the world’s first AI for CRM (customer relationship management), which currently powers over one trillion predictions every week across Salesforce’s applications.
Salesforce CEO, Marc Benioff, emphasized the significance of AI in reshaping the world and transforming businesses. He stated that every company needs to adopt an AI-first approach, and AI Cloud provides customers with a trusted and efficient way to leverage the power of AI. With the new Einstein GPT Trust Layer, AI Cloud is expected to unlock innovation, productivity, and efficiency for organizations.
