Salesforce (CRM) is diving deeper into generative AI as it looks to keep its business ahead of rivals.
Another key component of the new product is the prevention of large language models from retaining sensitive customer data. That element is meant to address growing concern inside of businesses of generative AI going too far with leveraging customer data.
New research out of Salesforce showed that 73% of employees believe generative AI introduces new security risks. About 60% of those who plan to use the technology don't know how to keep data secure.
"AI is reshaping our world and transforming business in ways we never imagined, and every company needs to become AI-first," Benioff said in a statement.
Wall Street is hopeful that next generation AI will unlock new growth for Salesforce as its stock hovers around a 65% year-to-date gain, despite a sluggish economy.
"Salesforce makes a compelling, sophisticated and differentiated argument for its strong positioning within the generative AI revolution, discussing the ‘GPT Trust Layer’ built into Einstein GPT and its ability to leverage real-time access to large troves of valuable data within its platform, providing a path for customers to securely and effectively operationalize GenAI," JP Morgan analyst Mark Murphy said in a recent note.
But even with the promise of new AI products, investors remain focused on the near-term outlook for Salesforce amid cautious spending among customers.
Several weeks ago Salesforce only reiterated its full-year sales outlook, calling out longer time periods to get deals done.
Shares of Salesforce are down 1.6% since that muted outlook on May 31. The S&P 500 is up 2.2% during that same timeframe.
"Better than expected, but challenging signs of future," Guggenheim analyst John DiFucci wrote in a research note.
Brian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Tips on the banking crisis? Email brian.sozzi@yahoofinance.com
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