Salesforce Announces $500 Million AI Startup Fund, Unveils AI Cloud

(CTN News) – On Monday, Salesforce announced that it was doubling its venture capital fund for generative AI startups to $500 million and unveiling its AI Cloud service. This hopes to attract enterprise customers by offering the company’s AI-driven products under one umbrella.

Among the Salesforce AI Cloud products, Salesforce has a number of products ranging from the Einstein service to the workplace-messaging app Slack to the data analysis program Tableau.

An annual subscription of $360,000 for its starter pack will be available from the company, the company said.

It underscores the race among technology companies to combine their tools with generative AI, which can be used to automatically generate text, images, and other content based on inputs from past data, which can be incorporated into their content creation tools.

“The rise of artificial intelligence is reshaping our world and transforming business in ways we have never envisaged, and it is imperative that every company becomes AI-first,” said Marc Benioff, the CEO of Salesforce.

Besides hosting the company’s own offerings, AI Cloud will also provide access to large-language models – the core software of artificial intelligence systems – from a variety of providers, including Amazon Web Services, Anthropic, and Cohere, as well as its own offerings.

With Salesforce’s commitment to ensuring privacy of its clients through its use of such offerings, Salesforce has stepped up to help prevent LLMs from retaining sensitive customer information for their own purposes as part of its commitment to ensuring the privacy of its clients.

Earlier this year, the company launched its Einstein GPT service and said it was working with ChatGPT creator OpenAI to add the chatbot sensation to its collaboration software Slack as a way to make it more accessible to its users.

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