Salesforce brings new Sales Cloud Einstein, presents $50 mn AI fund

Salesforce share in CRM marketCRM major Salesforce recently announced Sales Cloud Einstein, featuring artificial intelligence (AI) for assisting client for growing their business with the use of advanced technology.

Einstein Forecasting and Einstein Opportunity Scoring are the two main features of the new version of Sales Cloud Einstein.

Einstein Forecasting supports sales leaders to gain visibility and intelligence to accurately predict sales revenue during sales cycle.

Einstein Opportunity Scoring automatically prioritizes high-value opportunities and Einstein Email Insights automatically identifies the most important emails, enabling sales reps to sell faster and smarter.

Einstein Forecasting assists from the head of sales to the CFO to ensure business predictability. The company said sales leaders still rely upon incomplete spreadsheets and antiquated systems to forecast sales projections, resulting in inaccurate forecasts and under-performance.

The US-based CRM company said automated Einstein Forecasting solution uses company’s historical CRM data to take the guesswork out of forecasting.

Salesforce, which competes with Oracle, SAP and Microsoft, said Einstein Forecasting combines data mining and machine learning to analyze, process and understand key factors like seasonality and historical performance to make accurate, individualized sales forecasts.

Einstein Forecasting combines a unique mix of self-learning algorithms that learn individual and team forecasting behaviors, analyzes whether they are consistently optimistic, pessimistic or on target, and then synthesizes an unbiased analysis for the sales leader.

Einstein Opportunity Scoring identifies, surfaces and prioritizes the most valuable deals within Sales Cloud. With Einstein Opportunity Scoring a sales rep no longer has to spend countless hours sifting through opportunities. Instead, sales reps are able to focus on the deals most likely to close and add resources to deals that may be at risk.

With Einstein Email Insights every sales rep will have their own personal email assistant — powered by natural language processing (NLP). Einstein Email Insights identifies the most important emails and recommends the best action or response, enabling sales reps and leaders to prioritize their inbox and quickly address customer needs.

“Salesforce continues to lead the CRM market, delivering innovation, after innovation,” said Adam Blitzer, EVP and GM, Salesforce Sales Cloud.

Salesforce said Einstein AI is delivering more than 475 million predictions daily, enabling companies such as U.S. Bank, Room&Board, FareCompare, Silverline and Black Diamond to be smarter, more productive and predictive about their businesses.

Bill Hoffman, chief analytics officer and head of CRM at U.S. Bank, said: “Salesforce provides us with a single platform to empower every customer and employee interaction, and we’re excited about the predictive abilities Einstein Forecasting will further deliver.”

Salesforce Ventures also announced $50 million Salesforce AI Innovation Fund. Fast-growing AI start-ups Highspot, Squirro and TalkIQ are the first recipients of funding from the Salesforce AI Innovation Fund to accelerate their development of AI solutions on Salesforce.

“Artificial intelligence has the potential to make every company and employee smarter, faster, more efficient and more productive,” said John Somorjai, EVP of Corporate Development and Salesforce Ventures, Salesforce.

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