{"id":6663,"date":"2024-02-29T18:03:36","date_gmt":"2024-02-29T18:03:36","guid":{"rendered":"https:\/\/tup.kxe.temporary.site\/salesforce-predicts-lower-growth-as-ceo-focuses-on-ais-problems\/"},"modified":"2024-02-29T18:03:36","modified_gmt":"2024-02-29T18:03:36","slug":"salesforce-predicts-lower-growth-as-ceo-focuses-on-ais-problems","status":"publish","type":"post","link":"https:\/\/okdesign.ca\/en\/salesforce-predicts-lower-growth-as-ceo-focuses-on-ais-problems\/","title":{"rendered":"Salesforce predicts lower growth as CEO focuses on AI&#8217;s problems"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>In its Q4 2023 earnings call, Salesforce yesterday reported $1.45 billion in profits and $9.29 billion in revenue for the last quarter of 2023. Its profit of $1.47 a share is a huge turnaround from a year ago when it had a loss of $98 million, or 10 cents a share, for the same period.  The increases were driven by huge growth in its data cloud segment. <\/p>\n<p>The company said around a quarter of its deals worth more than $1 million included data cloud. Data cloud deals grew 90% year-over-year, approaching $400 billion. Prompting Benioff to exclaim during the earnings call, \u201cFiscal year \u201925 needs to be one thing \u2014 the \u2018Year of Data Cloud!\u2019\u201d He described Data Cloud as \u201cthe fastest growing organic product in the history of Salesforce.\u201d<\/p>\n<p>President and COO Brian Millham said the improved sales are \u201can indicator of the demand that we\u2019re seeing for people to get ready for the AI transformation.\u201d However, the company doesn\u2019t expect AI itself will impact its earnings in the near term.\u00a0<\/p>\n<p><!-- \/1038259\/MT_Post-text --><\/p>\n<h2 class=\"wp-block-heading\" id=\"h-benioff-goes-boom\">Benioff goes boom<\/h2>\n<p>This could explain why Benioff kicked off the call with a half hour of forceful discussion that mostly focused on the problems with AI and its creators. He spoke about \u201cstolen data\u201d and the New York Times\u2019 copyright infringement lawsuit against OpenAI, but did not seem to take a stand for or against either side. <\/p>\n<p>Benioff also warned about the fiscal dangers posed by AI. His example was a recent case in which a Canada Air customer won a settlement because a company chatbot made up a non-existent low ticket price.<\/p>\n<p>\u201cThese models don\u2019t know anything about the company\u2019s customer relationships, and in case some cases are just making it up,\u201d he said. FYI, two days prior Salesforce announced the public beta release of Einstein Copilot, its AI-powered chatbot assistant <\/p>\n<p>Later, CFO Amy Weaver said Salesforce is \u201cnot factoring in material contribution from these products into our FY 25 revenue guidance at this time.\u201d The customer relationship management company expects single-digit revenue growth for the 2025 fiscal year.<\/p>\n<p><strong><em>Dig deeper: <\/em><\/strong><a rel=\"nofollow noopener\" href=\"https:\/\/martech.org\/the-data-disconnect-why-understanding-your-data-landscape-matters-more-than-ever\/\" target=\"_blank\"><strong><em>The data disconnect: Why understanding your data landscape matters more than ever<\/em><\/strong><\/a><\/p>\n<p><!-- START INLINE FORM --><\/p>\n<div class=\"nl-inline-form border py-2 px-1 my-2\">\n<div class=\"row align-items-center justify-content-center nl-inline-container\">\n<div class=\"col-12 col-lg-3 col-xl-auto pb-2 pb-lg-0\">\n<p class=\"inline-form-text text-center mb-0\">Get MarTech! Daily. Free. In your inbox.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p><!-- END INLINE FORM -->\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/martech.org\/salesforce-predicts-lower-growth-as-ceo-focuses-on-ais-problems\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In its Q4 2023 earnings call, Salesforce yesterday reported $1.45 billion in profits and $9.29 billion in revenue for the last quarter of 2023. Its profit of $1.47 a share is a huge turnaround from a year ago when it had a loss of $98 million, or 10 cents a share, for the same period. [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":6664,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-6663","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Salesforce predicts lower growth as CEO focuses on AI&#039;s problems - OK Design<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/okdesign.ca\/en\/salesforce-predicts-lower-growth-as-ceo-focuses-on-ais-problems\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Salesforce predicts lower growth as CEO focuses on AI&#039;s problems\" \/>\n<meta property=\"og:description\" content=\"In its Q4 2023 earnings call, Salesforce yesterday reported $1.45 billion in profits and $9.29 billion in revenue for the last quarter of 2023. 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