Salesforce Einstein Now Delivers 80+ Billion AI-Powered Predictions Every Day

Rhea-AI Summary

Salesforce announced that its AI platform, Einstein, now generates over 80 billion AI-powered predictions daily across its products, enhancing sales, service, marketing, and commerce. The use of Einstein has surged as businesses adapt to a digital-first world, significantly improving customer interactions. Notable metrics include a 300% increase in bot sessions and a 32% increase in sales conversion rates using Einstein Lead Scoring. The trend reflects a broader industry shift towards AI, with global spending expected to reach $110 billion by 2024.

Positive

• Einstein delivers over 80 billion predictions each day across Salesforce products.
• 300% increase in Einstein Bot sessions since February 2020.
• 32% increase in sales conversion for users of Einstein Lead Scoring.
• 67% increase in daily predictions for Marketing Cloud.

Negative

• None.

SAN FRANCISCO, Nov. 24, 2020 /PRNewswire/ -- Salesforce, [NYSE: CRM], the global leader in CRM, today announced that Einstein, the first comprehensive AI for CRM, now delivers more than 80 billion AI-powered predictions every day across all Salesforce products for sales, service, marketing and commerce. The new all digital, work-from-anywhere world has accelerated our customers' use of Einstein to sell smarter, deepen customer relationships, scale customer support and personalize experiences, from anywhere.

Salesforce Einstein now delivers more than 80 billion AI-powered predictions every day. AI is now an imperative.

IDC predicts that global spending on AI will double in the next four years – reaching $110 billion in 2024 – as companies see an opportunity to boost innovation, improve customer service and automate routine tasks so their employees can focus on more strategic work.

"AI is now an imperative, not a nice-to-have. Einstein substantiated what many have asked for years: How and when will AI really drive enterprise-level value, at scale," said Marco Casalaina, SVP of Product Management and GM of Einstein. "The pandemic forced companies to invest in the technologies that quickly add value. Einstein does exactly this by working invisibly behind the scenes to predict customer behavior and preferences."

Einstein: Delivering AI-Powered Predictions at Incredible Scale
Einstein makes applications smarter with built-in automation and AI on top of existing CRM data. Einstein gets smarter with each new piece of data added to a customer's CRM, which makes Einstein uniquely positioned to deliver the best outcomes for sales, service, marketing and commerce.

• Einstein Platform: More than 80 billion predictions* every day across all Salesforce products (sales, service, marketing, commerce)
• Einstein for Service: 300% increase in Einstein Bot sessions since February of this year – a 680% increase compared to 2019; 700% increase in predictions for agents assistance and service automation (year over year)
• Einstein for Commerce: 300% increase in daily predictions for Einstein for Commerce in Q3 2020 (year over year)
• Einstein for Marketing: 67% increase in Einstein for Marketing Cloud daily predictions in Q3 to help marketers create more personalized messages over email and mobile channels
• Einstein for Sales: 32% increase in converting prospects to buyers for customers using Einstein Lead Scoring by providing insights about past customer interactions
• Einstein Search: More than 1.5 million natural language searches per month; 1.5 natural language searches every second; 100+ million personalized keyword searches per month

Customers are using Einstein to navigate the pandemic and emerge stronger

• Orvis taps Einstein to develop highly personalized conversations with customers
  As the pandemic hit, outdoor apparel and lifestyle brand Orvis turned to Einstein for Marketing Cloud to drive stronger engagement as a greater percentage of its customers began shopping online. Orvis uses Einstein to develop highly personalized communications for its customers, and Einstein's capabilities ensure that they meet their customers' expectations. For example, Orvis' most engaged customer segment grew by 20 percent, which goes hand-in-hand with sales growth. And since they shifted to focus on the right customer conversation with targeted email campaigns, traffic increased more than 30 percent, and click-through rates by 22 percent. Orvis also uses AI insights from its marketing efforts to build an efficient feedback loop, which enables them to respond to trends its customers are interested in 6x faster.
  
  
• Internet Creations uses Einstein to improve forecast accuracy of cash flow during COVID-19
  As the newly appointed CEO of Internet Creations, a business technology and consulting firm, in 2020, Felisa Palagi was tested by the pandemic right away. With growing delays in customer payments, it was becoming difficult to forecast their short- and long-term cash flow. The company needed a way to keep the business running, while also being empathetic to the challenges their customers were facing. They adopted Einstein to more accurately predict cash flow, and Einstein Prediction Builder to arrive at 2.5x more accurate forecasts, while taking less than one hour to build a prediction. They also adopted Einstein Bots, which led to faster response times for their customers.
  
  
• Icebreaker trusts Einstein to exceed shopper expectations
  Outdoor apparel retailer Icebreaker is able to scale its personalization capabilities with the help of Commerce Cloud Einstein, which leverages data science to suggest products for both existing and new shoppers across the entire shopping journey. Icebreaker found that its shoppers clicked on Commerce Cloud Product Recommendations 40 percent more often, leading to 28 percent more revenue from recommended products and an 11 percent overall increase in average order value.
  
  
• Sun Basket turns to Einstein Bots to keep customers happy amid surging demand
  Meal delivery service Sun Basket faced a sudden 50 percent spike in case volume when the pandemic hit and needed to adapt their customer service quickly. The company turned to Einstein Bots to manage the influx of customer requests. They increased their reliance on Einstein Bots to help customers track their orders or packages, report any issues with delays or damage and get a credit or refund. The Sun Basket bots now have the same or even better Customer Effort Score (CES) than human agents (90+ percent).

What's Ahead for Einstein: Upskilling, Innovation, Adoption
Salesforce remains focused on helping customers upskill their employees to better use AI in real business environments with Trailhead, Salesforce's free online learning platform. These training modules provide learning content to help anyone understand the basics of AI and how it works,the responsible creation of AI,how to implement chatbots,how to use Next Best Actions and more.

Additional information:

• Einstein's Guide to AI Use Cases: Learn how AI can lead to improved metrics across the board and add a positive impact on your customers, employees and bottom-line. This guide shares relevant AI use cases based on your role that will help you improve your most critical KPIs.
• Einstein on Trailhead: Tap into this free library of educational content, designed around what people need to learn, rather than what a training department needs to teach. You can choose from various AI topics to learn new skills at your own pace.
• Dreamforce + DreamTX: Remain up-to-date with the latest Einstein content and sessions from this year's event in December.

*Predictions are forward-looking estimates based on historical data. They use AI and automated machine learning to provide answers that map to specific business outcomes. Predictions might include the best customer service answers for each unique customer case, when to proactively engage with a sales lead, how likely an invoice is to be paid or which products to recommend to increase sales.

About Salesforce
Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Founded in 1999, Salesforce enables companies of every size and industry to take advantage of powerful technologies—cloud, mobile, social, internet of things, artificial intelligence, voice and blockchain—to create a 360° view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.

Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase Salesforce applications should make their purchase decisions based upon features that are currently available. Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM." For more information please visit https://www.salesforce.com, or call 1-800-NO-SOFTWARE.

 

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SOURCE Salesforce

FAQ

What is the significance of Salesforce's announcement on November 24, 2020?

Salesforce revealed that its AI platform, Einstein, is generating over 80 billion predictions daily, indicating significant advancements in AI capabilities.

How much is global spending on AI expected to grow by 2024?

Global spending on AI is projected to double, reaching $110 billion by 2024.

What improvements did Einstein bring to Salesforce's products?

Einstein has enabled major improvements such as a 300% increase in bot sessions and a 32% rise in sales conversion rates through enhanced AI predictions.

What increase did Einstein for Service see in predictions for agents' assistance?

There was a 700% increase in predictions for agents' assistance and service automation year-over-year.