News

Salesforce CEO explains why his company's Einstein Copilot product is unique

Chairman and CEO of Salesforce Marc R. Benioff attends the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 18, 2024. 
Denis Balibouse | Reuters
  • Salesforce CEO Marc Benioff told CNBC's Jim Cramer on Wednesday that his company's Einstein Copilot product is different from other artificial intelligence programs because of the way it uses customers' data to make decisions.
  • The company issued weak revenue guidance when it reported earnings Wednesday.

Salesforce CEO Marc Benioff told CNBC's Jim Cramer on Wednesday that his company's Einstein Copilot product is different from other artificial intelligence programs because of the way it uses customer data to make decisions.

"We already have tremendous user interfaces at Salesforce," Benioff said. "Our Sales Cloud, our Service Cloud, our Marketing Cloud, even Tableau, even Slack, these are amazing ways to talk to that data. But we have the ability then to go inside the data with the artificial intelligence and then provide unique insights, because that data is living with us every single day."

He elaborated, saying Salesforce is built "on a rich fabric of data and metadata," and it serves companies including Amazon, IHG and Schneider Electric. According to Benioff, Salesforce's AI program is predictive and generative, and it can unlock "trapped data" for its customers.

Salesforce reported earnings Wednesday, and while earnings surpassed Wall Street's expectations, revenue guidance came in weak. The company's stock initially dipped as much as 6% but then went up 1% in extended trading.

Benioff stressed that it's important for Salesforce to continue to grow and make acquisitions.

"Here we are at this extraordinary revenue level, and we are growing at a size and scale that means that we're adding huge software companies onto our company every single year," he said. "It's an amazing pace to be, and at this size and scale, I'm very grateful for the ability to kind of have the revenue growth that we have, but also the free cash flow guidance that we're giving for this year, which will be up over 23%, maybe 24%, 25%."

Sign up now for the CNBC Investing Club to follow Jim Cramer's every move in the market.

Disclaimer The CNBC Investing Club Charitable Trust holds shares of Salesforce.

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com

Copyright CNBC
Contact Us