American CRM giant Salesforce has announced a significant investment in the UK, despite undertaking painful cost cutting measures earlier this year.
As Salesforce kicked off its World Tour London: AI Day on Thursday, the firm announced it will invest $4 billion in its UK business in the next five years.
At the event, Salesforce also unveiled its latest AI product innovations, after the firm earlier this month announced a suite of generative AI tools called AI Cloud aimed at bringing an “open” approach to the intensely competitive market.
Salesforce AI
That suite, planned to launch later this year, includes Salesforce’s own generative AI tools, integrated into Salesforce’s flagship products such as Data Cloud, Tableau, Flow and MuleSoft, powering such features as code generation, marketing email creation and business process automation.
It furthers Salesforce’s strategy, which it first discussed in March, of introducing generative AI tools such as ChatGPT across the company’s product line.
Salesforce’s own AI models include Sales GPT, Service GPT, Marketing GPT, Commerce GPT, Slack GPT, Tableau GPT, Flow GPT and Apex GPT.
Salesforce said it is experiencing rapid growth in the UK as companies invest in their digital transformations and utilise artificial intelligence.
UK investment
The $4 billion investment in the UK comes after Salesforce’s previous five-year investment of $2.5 billion announced in June 2018.
This continued investment in the UK will drive innovation and support its growing customer base, the firm said.
“Salesforce’s major investment in its UK business over the next five years is a ringing endorsement of our economy,” said UK Prime Minister, Rishi Sunak. “It will strengthen the company’s UK presence, increasing capacity, as well as creating vital jobs, reinforcing our position as one of their largest markets outside of the US.
Rishi Sunak at London Tech Week 2022. Image credit: Rishi Sunak/Twitter
“This investment sits alongside my key priority to grow the economy and pledge to make the UK the best place in the world to start, grow and invest in tech businesses,” said the Prime Minister.
“This significant investment builds on our long-standing commitment to the UK,” added Marc Benioff, Chair and CEO, Salesforce.
Marc Benioff of Salesforce. Image credit: Salesforce
“The UK is home to some of the world’s most incredible, innovative companies, and we’re thrilled to work together with them to drive the next wave of digital transformation in this new AI era.”
Salesforce and its ecosystem of customers and partners in the UK is expected to create 271,700 new jobs and £52 billion ($66 billion) in new business revenues by 2026, according to research by IDC.