American cloud-based software company Salesforce has doubled its commitment to generative AI startup investments to $500 million, and unveiled Artificial Intelligence (AI) cloud to attract more enterprises by offering AI-powered products under one umbrella.
The AI Cloud will include Salesforce’s products from the Einstein service to the workplace-messaging app Slack and data analysis software Tableau. Along with the company’s offerings, AI Cloud will host the large-language models (LLMs), the core software of artificial intelligence systems, from providers such as Amazon Web Services (AWS), Anthropic, and Cohere.
Speaking on the company’s recent investment in AI startups, Salesforce Ventures managing partner Paul Drews said,
Tekedia Mini-MBA edition 16 (Feb 10 – May 3, 2025) opens registrations; register today for early bird discounts.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
“We are already seeing AI change the way the world works, and we are excited to build on the momentum of our Generative AI fund. Expanding our generative AI fund enables us to work with even more entrepreneurs who are accelerating the development of transformative AI solutions for the enterprise, and we are excited to support the next generation of innovative founders”.
Also commenting, Salesforce Foundation CEO Becky Ferguson said,
“Generative Al presents a massive and exciting opportunity for purpose-driven organizations to better serve and meaningfully engage with their communities. In this time of rapid innovation, we, need to ensure no one gets left behind. This Al accelerator brings the full power, of Salesforce with unrestricted grants, pro-bono expertise, and our technology to create a more equitable Al world”.
Notably, Salesforce’s investment in generative Al startups also includes a new startup accelerator program. The ‘Salesforce Accelerator – Al for Impact’ program, aims specifically at more philanthropic organizations to offer money and expert help on using generative Al in their work. The accelerator plans to distribute $2 million to its first cohort and invite them to meet with advisors on how best to leverage generative Al.
Recall that in March, Salesforce launched the Einstein GPT service and revealed it was working with ChatGPT creator OpenAI to add the chatbot sensation to its collaboration software Slack.
The new Einstein GPT employs OpenAl’s large language models and its databases to compose and edit emails to customers, digital advertisements, and computer code for developers. OpenAl is simultaneously releasing a ChatGPT app to embed in Slack, providing those using the Salesforce-owned communication platform with access to the generative Al chatbot and its summarization and writing assistance.
Salesforce joins the likes of other tech companies heavily investing in AI startups. A Bloomberg report reveals that the software company has participated in over 140 deals for AI and machine learning startups, particularly in the area of AI insights for sales, natural language chatbots for service requests, targeted marketing content, and personalized e-commerce experiences.
It is worth noting that in recent years, generative artificial intelligence (AI) has emerged as a game-changing technology with immense potential across various industries. Subsequently, generative AI startups are rapidly gaining traction, and venture capital investors are keen to capitalize on their potential.
The emergence of ChatGPT in November last year, served as a pivotal moment for the technology industry, signaling the need for increased innovation and prompting many tech companies to develop AI tools.
This saw major tech giants such as Google, Microsoft, and Meta, amongst others, invest heavily in generative AI, with the hope of enhancing users’ experience and achieving a breakthrough that would put them ahead of their competitors.
Salesforce has unveiled a new ecosystem of generative AI models and services called AI Cloud, becoming the latest tech company to integrate artificial intelligence into its core products. CEO Marc Benioff and other Salesforce leaders showcased a string of AI Cloud offerings at the company’s AI Day event Monday; those tools include Sales GPT for personalized emails, Marketing GPT for crafting personalized campaigns and Tableau GPT for analyzing data. AI Cloud will start at US$360,000 a year, Reuters reports.
Salesforce has doubled its Generative AI Fund to $500 million so it can accelerate its investments in “responsible generative AI” startups.
The company last week announced a partnership with Google Cloud to strengthen its AI and data offerings. (LinkedIn News)