AI Disruption in Corporate Software Slows Down
Salesforce and other corporate-software companies were once feared to be disrupted by AI-concocted versions, but this hasn't happened yet.
The share price of Salesforce fell about 30% early this year after the release of new coding tools from Anthropic and OpenAI, but since then it has reported better-than-projected sales and profits and raised its outlook, citing an AI tailwind.
Salesforce debuted an expanded partnership with Anthropic to integrate its Claude AI model with Salesforce's software, allowing users to apply Claude's reasoning capabilities to their corporate data and automate certain sales functions.
Other big software companies like ServiceNow, Snowflake, and Workday have also reported strong results this summer, citing AI in lifting their sales forecasts.