The AI arms race is heating up, as not only are we seeing a range of tech stocks drive advancement in developing AI, but also new companies putting it to use. Salesforce (NYSE:CRM) is the latest to step in as it plans to incorporate the Einstein GPT system into its current operations.
After posting a winning earnings report, Salesforce is preparing its inevitable attempt at an encore. One of these possible attempts included the use of artificial intelligence in its current operations, a point that Salesforce has been attempting to carry out for years. It hasn’t had a lot of success, at least, until the AI arms race started up in earnest. Now, Salesforce turns to Open AI to help provide that last missing puzzle piece and get Salesforce’s AI venture started.
Einstein GPT will add a set of new options for Salesforce users, including a chat box in its Service Cloud. The technology can write questions into the chat box, and agents can answer the questions accordingly, augmenting the technology’s range of operations. Eventually, it will be able to update knowledge articles and other collateral accordingly. Pricing for the new AI-driven Salesforce, however, is unavailable since the platform is in a closed pilot.
Analysts, meanwhile, are pretty pleased with how Salesforce is doing so far. By a margin greater than two to one, analyst consensus calls Salesforce stock a Moderate Buy with 21.77% upside potential thanks to its average target price of $223.38.
