Latest news with #MarcBenioff
Economic Times
17 minutes ago
- Business
- Economic Times
AI doing up to 50% of work at Salesforce: CEO Marc Benioff
Reuters Salesforce CEO Marc Benioff, in an interview with Bloomberg, said that the company is using artificial intelligence (AI) to do 30% to 50% of the statements have been made by other tech leaders, including Microsoft CEO Satya Nadella and Google chief Sundar Pichai, who have said that AI does a significant portion of work like coding in their companies. Benioff continued, 'All of us have to get our heads around this idea that AI can do things that before, you know, we were doing, and we can move on to do higher-value work.' When the interviewer Emily Chang asked if AI could replace him one day, Benioff joked, 'I hope so. I mean, of course, I'm partially kidding. You know that, but we're becoming more automated.'According to Bloomberg, Salesforce has already let go of over 1,000 employees this year. While some may be moved into new roles, large-scale job cuts like these are becoming more common with the growing adoption of month, Salesforce acknowledged that its adoption of AI tools has enabled the company to scale back on recruitment. During an analyst call, chief financial and operations officer Robin Washington said the company is reducing hiring, with 500 customer service staff to be moved into other roles, an adjustment expected to save $50 million.A few months ago, Benioff went so far as to say that the company wouldn't be hiring any more engineers this year due to significant productivity gains from it is worth noting that despite the slowdown in technical hiring, the company is expanding its sales of January 31, Salesforce had a workforce of around 76,500. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. The bike taxi dreams of Rapido, Uber, and Ola just got a jolt. But they're winning public favour Second only to L&T, but controversies may weaken this infra powerhouse's growth story Punit Goenka reloads Zee with Bullet and OTT focus. Can he beat mighty rivals? 3 critical hurdles in India's quest for rare earth independence HDB Financial may be cheaper than Bajaj Fin, but what about returns? Why Sebi must give up veto power over market infra institutions These large- and mid-cap stocks can give more than 23% return in 1 year, according to analysts Are short-term headwinds from China an opportunity? 8 auto stocks: Time to be contrarian? Buy, Sell or Hold: Motilal Oswal initiates coverage on Supreme Industries; UBS initiates coverage on PNB Housing
Fox News
an hour ago
- Automotive
- Fox News
Fox News AI Newsletter: ChatGPT rewiring your brain
IN TODAY'S NEWSLETTER: - ChatGPT could be silently rewiring your brain as experts urge caution for long-term use- Tesla's newly launched robotaxi service experiences driving issues, traffic problems: report- Salesforce boss reveals the stunning amount of work now handled by AI BRAIN DANGER: Using ChatGPT on a long-term basis could have negative effects on brain function. That's according to a study led by the Massachusetts Institute of Technology (MIT), which found that using a large language model (LLM) to write multiple essays over a four-month period could hamper cognitive abilities. 'ERRATIC': Videos taken this week by passengers showed Tesla robotaxis – which are Model Y vehicles with advanced software – braking suddenly, speeding, conducting improper drop-offs, entering the wrong lane and driving over a curb, according to Reuters. 'DIGITAL LABOR REVOLUTION': Salesforce CEO Marc Benioff revealed the software company uses artificial intelligence (AI) technology to perform a good deal of its work. 'FAIR USE': Two artificial intelligence development companies won in court this week against book authors' copyright lawsuits. Two federal judges in San Francisco ruled that Anthropic and Meta may use books without permission to train its artificial intelligence systems. SMART SWING SIDEKICK: If you've ever found yourself juggling clubs, bags and gear while trying to keep your focus on your golf game, the Robera Neo might just be the solution you didn't know you needed. This AI-powered smart caddie is designed to follow you around the course, carrying your clubs effortlessly and freeing you up to concentrate on your swing. BALANCING ACT: Congressional lawmakers on Wednesday questioned the balance between speed and safety when discussing artificial intelligence (AI) regulations and the need for the U.S. to dominate China in the race to develop the emerging technology. TECH TAKEOVER THREAT: Buried in the budget reconciliation package recently passed by the House is a moratorium that would block every U.S. state from passing laws on artificial intelligence or automation for the next decade. ROBOT TAKEOVER: Artificial intelligence-powered self-driving trucks are no longer a distant concept. They are quickly becoming a real solution to some of the logistics industry's biggest challenges. As supply chains face growing pressure and the driver shortage deepens across the U.S. and Europe, Plus Automation is stepping up with bold ambitions and powerful AI. MONEY MOVES: Nvidia has boomed over the past few years amid the rise of artificial intelligence (AI), as the company designs cutting-edge AI chips. FOLLOW FOX NEWS ON SOCIAL MEDIA FacebookInstagramYouTubeTwitterLinkedIn SIGN UP FOR OUR OTHER NEWSLETTERS Fox News FirstFox News OpinionFox News LifestyleFox News Health DOWNLOAD OUR APPS Fox NewsFox BusinessFox WeatherFox SportsTubi WATCH FOX NEWS ONLINE STREAM FOX NATION Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future with Fox News here.
Yahoo
13 hours ago
- Business
- Yahoo
Salesforce is using AI for up to 50% of its workload, and its AI product is 93% accurate, says CEO Marc Benioff
Salesforce CEO and founder Marc Benioff said the company now relies on artificial intelligence for 30% to 50% of its entire workload. Coco Gauff and Emma Grede team up to help small businesses I've become an AI vibe coding convert Tech layoffs June 2025: Microsoft, Google, Disney, ZoomInfo join the list of companies said to be shedding jobs The software giant, like many other tech companies in Silicon Valley, including Microsoft and Google, is going all in on the AI boom. 'All of us have to get our head around this idea that AI could do things, that before we were doing, and we can move on to do higher-value work,' Benioff told Bloomberg, including positions like software engineering and customer service. 'It's these agents, these digital laborers, digital employees who are out there doing this work servicing the customers, selling to the customer, marketing to the customer, partnering with me to do the analytics, the marketing, the branding.' Benioff said he even writes his yearly business plan with an AI partner, along with a 'human' Salesforce executive, adding that the company was on track to have one billion of these 'agents' before the end of the year. (Sixty-five percent of companies are now experimenting with AI agents, according to an April KPMG survey.) Benioff also estimated that Salesforce has reached 93% accuracy with the AI product it's selling to customers, including Walt Disney Co., which was developed to carry out tasks such as customer service without human supervision, according to Bloomberg. Benioff added that it's not 'realistic' to reach 100% accuracy, and that other companies are at 'much lower levels because they don't have as much data and metadata.' The software giant was ranked the No. 1 customer relationship management (CRM) software provider in 2025 for the 12th consecutive year by the global market intelligence firm IDC. Salesforce's clients include Apple, Boeing, Amazon, Walmart, and McDonald's, to name a few. According to Bloomberg, AI is ushering in a new era of 'the tiny team.' Gone are the days when Silicon Valley companies rapidly hire as they scale; now tech companies are in a race to the bottom, competing to see who can manage the lowest head count in an effort to cut costs and increase efficiencies. The AI boom comes at a time when many tech companies are slashing jobs, in part to keep up with inflation and increased economic uncertainty, spurred on by the Trump administration's tariffs and conflict with Iran. Salesforce Inc. (NYSE: CRM) was trading up less than 1% on Thursday in midday trading, at the time of this writing. In the company's latest round of earnings for the first quarter, which ended April 30, the company reported revenue of $9.8 billion, up nearly 8% year over year, beating analyst expectations, and it raised guidance 'by $400 million, to $41.3 billion, at the high end of the range.' Earnings per share (EPS) came in at $2.58, topping estimates of $2.55. Benioff said Salesforce has 'built a deeply unified enterprise AI platform—with agents, data, apps, and a metadata platform . . . with Agentforce, Data Cloud, our Customer 360 apps, Tableau, and Slack all built on one trusted, unified foundation, [so] companies of every size can build a digital labor force—boosting productivity, reducing costs, and accelerating growth.' The company had a market capitalization of $257 billion at the time of this writing. Its next earnings report is scheduled for late August. This post originally appeared at to get the Fast Company newsletter:
Entrepreneur
17 hours ago
- Business
- Entrepreneur
Microsoft Staff Told to Use AI More at Work: Report
Microsoft may even start factoring AI tool use into performance reviews, the report claims. A new report from Business Insider claims that Microsoft is considering formal metrics for evaluating how much employees use AI during the workday. The outlet viewed an email from Julia Liuson, president of the developer division at Microsoft, which told managers to include time spent using internal AI tools, both in-house and from the competition, in employee performance reviews. Related: 'Not Cool': Sam Altman Says Lawsuit Over Secret Jony Ive Project Is 'Silly' "AI is now a fundamental part of how we work," Liuson wrote in the email. "Just like collaboration, data-driven thinking, and effective communication, using AI is no longer optional — it's core to every role and every level." AI use at work is already on the rise. This week, Salesforce CEO Marc Benioff told Bloomberg that AI was handling half of all work at his company. AI is taking care of "30% to 50% of the work at Salesforce now," Benioff said. Meanwhile, a new report from SignalFire, a venture capital firm that monitors the job movements of over 650 million employees on LinkedIn, found that advances in AI have already led big tech companies to reduce the hiring of new graduates (down 25% from 2023 to 2024). Related: Meta Poaches the CEO of a $32 Billion AI Startup — After Trying to Buy the Company and Being Told No
Yahoo
19 hours ago
- Business
- Yahoo
Salesforce's Goes All-In on AI Internally
Salesforce (NYSE:CRM) is leaning heavily on AIshifting 3050% of its own workload to intelligent agentseven as its shares slide 20% this year. CEO Marc Benioff told Bloomberg that Salesforce now uses AI for everything from customer service inquiries to augmenting software engineering, freeing employees to tackle higher-value projects. The company laid off roughly 1,000 staff in February but simultaneously beefed up its AI sales force around products like Agentforce. Meanwhile, Data Cloud and Agentforce annualized recurring revenue has topped $1 billion, up 120% year-over-year, with 4,000 paying customersevidence that Benioff's internal AI playbook is resonating externally. Practicing what it preaches gives Salesforce a credibility edge as enterprises hunt proven AI use cases. With peers like ServiceNow (NYSE:NOW) reporting dramatic efficiency gains16 lead-to-sale conversions and 86% task deflectionSalesforce's in-house experience could be a key differentiator in a crowded CRM market. Despite a tough stock performance, strong AI-driven revenue growth and internal efficiency wins may help Salesforce regain momentum. Investors will be watching upcoming earnings for signs that scale and cost savings translate into renewed top- and bottom-line strength. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data
