Salesforce launches AI Cloud, doubles fund for AI startups to $500 mn

American technology firm Salesforce on Monday announced AI Cloud, a customer relationship management (CRM) software that combines artificial intelligence (AI) software with data from multiple sources to provide what it calls a “trusted, open, real-time generative AI” aimed at enterprise users.

The company also announced that its Salesforce Ventures arm is doubling the size of its Generative AI Fund, investing in emerging AI businesses, to $500 million from $250 million.

The CRM vendor said in a statement that AI Cloud “brings the power of generative AI to deliver trusted, AI-created content across every sales, service, marketing, commerce, and IT interaction to boost productivity and efficiency.”

That said, the AI Cloud aims to tap enterprises by offering the company's AI-powered products under one umbrella, which includes Einstein service to workplace-messaging app Slack and data analysis software Tableau. Its starter pack will be available for $360,000 annually, according to the statement.

In March, Salesforce announced the launch of Einstein GPT, a generative AI tool for CRM. Salesforce said in a release that it plans on integrating Einstein GPT with its proprietary models to deliver content across sales, services, marketing, commerce, and IT interaction, at hyper scale. The company also said that it is working with ChatGPT creator OpenAI to add the chatbot feature to its collaboration software Slack.

“AI is reshaping our world and transforming business in ways we never imagined, and every company needs to become AI-first,” Salesforce CEO Marc Benioff said in a statement. 

“AI Cloud … is the fastest and easiest way for our customers to unleash the incredible power of AI, with trust at the centre driven by our new Einstein Trust Layer. AI Cloud will unlock incredible innovation, productivity and efficiency for every company,” he said.

Along with the company's own offerings, AI Cloud will host the large-language models (LLMs) from providers such as Amazon Web Services, Anthropic and Cohere, the company said.

Salesforce’s announcement comes at a time when almost every major tech company is offering AI strategies and solutions to business users. Not just Microsoft, Google and Nvidia, who are aggressively dominating the AI space, last week, IT firm Intuit unveiled its AI strategy, Adobe announced plans for a new generative AI subscription plan, and Cisco Systems also announced new AI tools for its WebEx video conferencing software.