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Army of AI Bots
09Sep

Army of AI Bots

Salesforce Inc. has announced a significant upgrade with the launch of Industries AI, a new automation platform designed to handle a wide range of time-consuming tasks, enhancing productivity across various sectors. We are NOT advocating that the next war will be fought with AI Bots. We aren’t even suggesting there is anything negative about these bots. However, if the next war were to be information and data based, who knows. Industries AI will be integrated into all 15 of Salesforce’s cloud platforms, including Sales Cloud, Data Cloud, Service Cloud, Commerce Cloud, and Marketing Cloud. This expansive solution is capable of managing over 100 common tasks, from matching patients with clinical trials and providing maintenance alerts for vehicles and machinery, to streamlining recruitment processes and enhancing government services. The launch of Industries AI responds to findings from Salesforce’s Trends in AI for CRM Report, which indicated that over 75% of business leaders are concerned about missing out on AI advancements if they do not adopt the technology soon. With a 700% increase in urgency to implement AI over the past six months, many organizations struggle with the resources and expertise needed to develop and train AI models. Salesforce aims to address this by offering a ready-made framework for creating AI agents tailored to industry-specific needs, utilizing each customer’s proprietary data within the Salesforce platform. Industries AI will provide a foundation for quickly deploying autonomous agents, with setup times estimated at just a few minutes. To assist customers in leveraging AI automation, Salesforce has created use case libraries for each of its cloud platforms, featuring over 100 capabilities at launch. These capabilities span multiple industries: Salesforce will begin rolling out Industries AI capabilities in October 2024, with some features available by February 2025. The company plans to regularly update Industries AI with new capabilities as part of its annual Salesforce releases. Jeff Amann, executive vice president and general manager of Salesforce Industries, emphasized that this innovation aims to make powerful AI accessible to all enterprises, regardless of size or budget. “Organizations can now easily start with AI solutions tailored to their specific challenges, enhancing efficiency and productivity across various functions,” he said. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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September 9, 2024in Generative AI
Predictive Analytics
09Sep

Predictive Analytics

Industry forecasts predict an annual growth rate of 6% to 7%, fueled by innovations in cloud computing, artificial intelligence (AI), and data engineering. In 2023, the global data analytics market was valued at approximately $41 billion and is expected to surge to $118.5 billion by 2029, with a compound annual growth rate (CAGR) of 27.1%. This significant expansion reflects the growing demand for advanced analytics tools that provide actionable insights. AI has notably enhanced the accuracy of predictive models, enabling marketers to anticipate customer behaviors and preferences with impressive precision. “We’re on the verge of a new era in predictive analytics, with tools like Salesforce Einstein Data Analytics revolutionizing how we harness data-driven insights to transform marketing strategies,” says Koushik Kumar Ganeeb, a Principal Member of Technical Staff at Salesforce Data Cloud and a distinguished Data and AI Architect. Ganeeb’s leadership spans initiatives like AI-powered Salesforce Einstein Data Analytics, Marketing Cloud Connector for Data Cloud, and Intelligence Reporting (Datorama). His expertise includes architecting vast data extraction pipelines that process trillions of transactions daily. These pipelines play a crucial role in the growth strategies of Fortune 500 companies, helping them scale their data operations efficiently by leveraging AI. Ganeeb’s visionary work has propelled Salesforce Einstein Data Analytics into the forefront of business intelligence. Under his guidance, the platform’s advanced capabilities—such as predictive modeling, real-time data analysis, and natural language processing—are now pivotal in transforming how businesses forecast trends, personalize marketing efforts, and make data-driven decisions with unprecedented precision. AI and Machine Learning: The Next Frontier Beginning in 2018, Salesforce Marketing Cloud, a leading engagement platform used by top enterprises, faced challenges in extracting actionable insights and enhancing AI capabilities from rapidly growing data across diverse systems. Ganeeb was tasked with overcoming these hurdles, leading to the development of the Salesforce Einstein Provisioning Process. This process involved the creation of extensive data import jobs and the establishment of standardized patterns based on consumer adoption learning. These automated jobs handle trillions of transactions daily, delivering critical engagement and profile data in real-time to meet the scalability needs of large enterprises. The data flows seamlessly into AI models that generate predictions on a massive scale, such as Engagement Scores and insights into messaging and language usage across the platform. “Integrating AI and machine learning into data analytics through Salesforce Einstein is not just a technological enhancement—it’s a revolutionary shift in how we approach data,” explains Ganeeb. “With our advanced predictive models and real-time data processing, we can analyze vast amounts of data instantly, delivering insights that were previously unimaginable.” This innovative approach empowers organizations to make more informed decisions, driving unprecedented growth and operational efficiency. Real-World Success Stories Under Ganeeb’s technical leadership, Salesforce Einstein Data Analytics has delivered remarkable results across industries by leveraging AI and machine learning to provide actionable insights and enhance business performance. In the past year, leading companies like T-Mobile, Fitbit, and Dell Technologies have reported significant improvements after integrating Einstein. Ganeeb’s proficiency in designing and scaling data engineering solutions has been critical in helping these enterprises optimize performance. “Scalability with Salesforce Einstein Data Analytics goes beyond managing data volumes—it ensures that every data point is converted into actionable insights,” says Ganeeb. His work processing petabytes of data daily underscores his commitment to precision and efficiency in data engineering. Navigating Data Ethics and Quality Despite the rapid growth of predictive analytics, Ganeeb emphasizes the importance of data ethics and quality. “The accuracy of predictive models depends on the integrity of the data,” he notes. Salesforce Einstein Data Analytics addresses this by curating datasets to ensure they are representative and free from bias, maintaining trust while delivering reliable insights. By implementing rigorous data quality checks and ethical considerations, Ganeeb ensures that Einstein Analytics not only delivers actionable insights but also fosters transparency and trust. This balanced approach is key to the responsible use of predictive analytics across various industries. Future Trends in Predictive Analytics The future of predictive analytics looks bright, with AI and machine learning poised to further refine the accuracy and utility of predictive models. “Success lies in embracing technological advancements while maintaining a human touch,” Ganeeb notes. “By combining AI-driven insights with human intuition, businesses can navigate market complexities and uncover new opportunities.” Ganeeb’s contributions to Salesforce Einstein Data Analytics exemplify this balanced approach, integrating cutting-edge technology with human insight to empower businesses to make strategic decisions. His work positions organizations to thrive in a data-driven world, helping them stay agile and competitive in an evolving market. Balancing Benefits and Challenges – Predictive Analytics While predictive analytics offers vast potential, Ganeeb recognizes the challenges. Ensuring data quality, addressing ethical concerns, and maintaining transparency are crucial for its responsible use. “Although challenges remain, the future of AI-based predictive analytics is promising,” Ganeeb asserts. His work with Salesforce Einstein Data Analytics continues to push the boundaries of marketing analytics, enabling businesses to harness the power of AI for transformative growth. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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September 9, 2024in Salesforce Data Cloud, Salesforce Einstein, Salesforce Marketing Cloud
Salesforce AI Agents Explained
09Sep

Salesforce AI Agents Explained

Salesforce’s AI Agents: Revolutionizing Enterprise Sales and Service for the Future In the rapidly evolving landscape of artificial intelligence (AI), Salesforce continues to lead the charge, transforming enterprise operations with cutting-edge AI agents. With the introduction of Agentforce, Salesforce is not just enhancing sales and service departments but reshaping business processes across sectors. This comprehensive exploration highlights how Salesforce’s AI agents are changing the game, offering enterprise-level executives insights into their revolutionary potential. Salesforce AI Agents Explained. AI Agents: Beyond Autonomous Vehicles A fitting analogy to grasp the progression of AI agents is the evolution of autonomous vehicles. Just as self-driving cars advance from basic driver assistance to full autonomy, AI agents evolve from simple automation to more complex decision-making. Salesforce’s Chief Product Officer, David Schmaier, draws this comparison: “In the autonomous driving world, we have levels of autonomy, from level zero to level five. AI agents for enterprises follow a similar path.” At the core of this evolution is what Salesforce defines as the “agentic” phase of AI. Unlike generative AI that follows instructions to create content, agentic AI autonomously determines and takes actions based on broader goals. Schmaier notes, “We’re at the point where AI not only creates content but takes strategic actions. It’s like having an infinite pool of interns handling mundane tasks so human employees can focus on higher-value activities.” Agentforce: Salesforce’s Next-Generation AI Platform Agentforce is the latest addition to Salesforce’s AI arsenal, unveiled during their Q2 ’25 earnings call and now positioned as a significant milestone in AI development. With Agentforce, organizations can build and manage autonomous agents for tasks across various business functions—not just customer service. This versatility is highlighted by Marc Benioff, Salesforce’s CEO, who described the energy around Agentforce during a recent briefing as “palpable.” Agentforce builds on Salesforce’s data management, security, and customization expertise, uniting these capabilities into an AI framework. Schmaier explains, “It’s about creating trusted, enterprise-ready agents, not just deploying a large language model. We’ve developed over 100 out-of-the-box use cases, from sales account summaries to service reply recommendations, all customizable and easy to deploy.” Agentforce “In Every App” A key announcement is the integration of Agentforce in every app across Salesforce’s product suite, including Sales, Service, Marketing, and Commerce Agents. The Atlas reasoning engine, Agent Builder, and a partner network were also introduced to further enhance its capabilities. The Atlas Reasoning Engine acts as the “brain” behind Agentforce, autonomously generating plans and refining them based on actions it needs to perform, such as running business processes or engaging customers through preferred channels. What Makes an AI Agent? Salesforce AI Agents Explained Building an AI agent with Agentforce requires five key elements: These components leverage existing Salesforce infrastructure, making it easier for businesses to deploy agents through Agent Builder, which is part of the new Agentforce Studio. Agents vs. Chatbots Unlike traditional chatbots, which provide pre-programmed responses, Salesforce’s AI agents use large language models (LLMs) and generative AI to interpret and autonomously execute customer requests based on CRM data. This distinction allows AI agents to perform tasks that go beyond simple queries, driving efficiency in customer service, sales, and other business areas. Practical Applications: Sales, Service, and Marketing Salesforce’s AI agents offer tangible business benefits. For instance, Sales Agent, available as both a Sales Development Representative (SDR) and Sales Coach, automates lead nurturing and inquiry management. It utilizes CRM data to deliver personalized pitches, handle objections, and even suggest meeting times—freeing sales teams to focus on more strategic tasks. In customer service, AI agents manage routine inquiries, allowing human representatives to address more complex customer needs. In marketing, AI agents generate data-driven insights to personalize campaigns, improving customer engagement and conversion rates. The Security and Trust Foundation Security and trust remain core to Salesforce’s approach to AI. The Einstein Trust Layer ensures that data protection, privacy, and ethical guidelines are maintained throughout AI interactions. Schmaier emphasizes, “Our platform defines what data agents can access and how they use it, adhering to strict data integrity standards.” The Trust Layer also prevents AI from training on customer data without consent, ensuring transparency and security. A Partnership Between Humans and AI-Salesforce AI Agents Explained Salesforce’s vision emphasizes the synergy between human employees and AI agents. As Schmaier points out, “AI agents handle routine tasks and deliver insights, allowing employees to focus on more creative and strategic work.” This human-AI partnership boosts productivity and innovation, ultimately improving business outcomes. The Future of AI in Business As AI technology advances, Salesforce is already working on next-generation capabilities for Agentforce, including predictive analytics and more sophisticated autonomous agents. Schmaier forecasts, “These agents will handle a wider range of tasks and provide deeper insights and recommendations.” With Agentforce launching in October 2024, businesses can expect significant returns on investment, thanks to its cost-efficient model starting at $2 per conversation. In summary, Salesforce’s Agentforce is a game-changing innovation, blending AI and human intelligence to transform sales, service, and marketing. As more details unfold, it’s clear that Agentforce will redefine the future of business operations—driving efficiency, personalization, and strategic success. Like1 Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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September 9, 2024in Agentforce Platform, Generative AI, Technology
Salesforce to Enhance AI-Powered Tools With Tenyx
07Sep

Salesforce to Enhance AI-Powered Tools With Tenyx

Salesforce to Acquire Tenyx, Enhancing AI-Powered Solutions Salesforce has announced its decision to acquire Tenyx, a California-based startup specializing in AI-driven voice agents. This acquisition aims to bolster Salesforce’s AI capabilities and further its commitment to enhancing customer service through innovative technology. The deal, set to close in the third quarter of 2024, will integrate Tenyx’s advanced voice AI solutions with Salesforce’s existing services. About Tenyx Founded in 2022, Tenyx has quickly established itself in various industries including e-commerce, healthcare, hospitality, and travel. The startup, led by CEO Itamar Arel and CTO Adam Earle, is renowned for developing AI voice agents that create natural and engaging conversational experiences. Salesforce’s Strategic Move This acquisition is part of Salesforce’s broader strategy to reinvigorate its growth and strengthen its AI capabilities. Following a year of focus on share buybacks and a reduction in acquisitions under pressure from activist investors, Salesforce is now pivoting to integrate cutting-edge technology. This move reflects a renewed emphasis on acquiring top-tier AI talent to drive innovation and maintain a competitive edge. Industry Context The acquisition aligns Salesforce with a growing trend in the tech industry, where major players like Microsoft and Amazon are also investing heavily in AI. Microsoft recently acquired talent from AI startup Inflection for $650 million, while Amazon brought in co-founders and employees from Adept. These strategic acquisitions highlight the escalating competition for AI expertise and tools. What This Means for Salesforce With Tenyx’s technology, Salesforce will enhance its AI-powered solutions, particularly within its Agentforce Service Agent platform. This integration aims to deliver more intuitive and seamless customer interactions, setting new standards in customer experience. Conclusion Salesforce’s acquisition of Tenyx is a strategic move to advance its AI-driven solutions and maintain its leadership in customer service technology. By integrating Tenyx’s innovative voice AI, Salesforce is positioned to redefine customer engagement and service standards. The deal is expected to close by the end of the third quarter of Salesforce’s fiscal year 2025, concluding on October 31, 2024, pending customary closing conditions. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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September 7, 2024in Salesforce
Salesforce and Ortoo Integration
06Sep

Salesforce and Ortoo Integration

Ortoo Launches Smart Actions: A Revolutionary Salesforce-Native App for AI Automation Ortoo, a leading provider of Salesforce productivity solutions, has unveiled its latest innovation, Smart Actions, now available on the Salesforce AppExchange. This groundbreaking Salesforce-native app allows businesses to seamlessly integrate AI automation into their Salesforce workflows, dramatically boosting efficiency and simplifying complex processes with a single click. Salesforce and Ortoo integration for Smart Actions. How do I sync Ortto activities to Salesforce? In your Ortto account, navigate to Data sources > Salesforce > Sync Ortto activities to Salesforce. Choose up to 5 activities. At Sync settings, select whether you wish to sync these Ortto activities as activities and/or as tasks. If you are syncing the Salesforce Task object to Ortto (selected at Salesforce fields): Smart Actions empowers companies to deploy AI and GPT-powered automations across sales, service, and support functions within Salesforce, eliminating the traditionally high costs associated with advanced AI tools. By integrating smoothly into the Salesforce ecosystem, Smart Actions enables businesses to automate manual tasks, personalize communications, and optimize workflows with unparalleled ease. Track and manage email conversations within Salesforce. AI-powered actions to streamline sales workflows. SEAMLESS SALESFORCE INTEGRATION “With Smart Actions, we’re making AI automation accessible to businesses of all sizes,” said Amy Grenham, Head of Marketing at Ortoo. “If you’ve ever built a custom GPT using OpenAI, creating a Smart Action will feel very familiar. Ortoo’s prompt builder allows you to set the context, specify the Salesforce fields to analyze, and determine where the output should go. This simplicity makes it incredibly easy to deploy AI-driven processes and transform operations within Salesforce.” Key Features and Practical Applications Real-World Applications of Smart Actions Get Started with Smart Actions Today Smart Actions is now available on the Salesforce AppExchange. Businesses can start using the app for free, with additional features available through a premium version. SmartActions is a 5 star product on the Salesforce AppExchange. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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September 6, 2024in Salesforce Implementation Services
Co-opetition
05Sep

Co-opetition

Tech companies frequently partner for mutual benefit-Co-opetition, but in the customer service and contact center sector, the competition is heating up. Established players like Genesys, Five9, and Nice are now facing significant competition from tech giants such as AWS, Microsoft, and Google. To strengthen their positions, longtime partners Genesys and Salesforce introduced a joint platform called CX Cloud earlier this year. This platform combines Salesforce’s advanced Service Cloud and CRM with Genesys’ leading contact center as a service (CCaaS) solution- the very epitome of Co-opetition. It integrates telephony, journey management, and employee-focused workforce engagement management tools to optimize contact center operations and track agent satisfaction. While both companies compete in areas like AI, digital engagement, and generative AI, the CX Cloud partnership exemplifies their “coopetition” strategy. Salesforce runs the desktop interface, while Genesys excels in workforce management. By integrating their technologies, the two companies offer customers a flexible solution, enabling them to use the tools that best suit their needs—whether it’s managing digital channels through Salesforce or Genesys. This collaboration eliminates competition in key areas, with both Salesforce and Genesys sales teams working closely together. The partnership between the two companies is not new; their integration dates back to 2015. However, the recent deeper integration, which now covers not just voice but also digital channels, offers customers a unified view of their data. This allows users to harness customer conversation data across both platforms more effectively, giving them the flexibility to use tools from either Genesys or Salesforce. In addition to competition from one another, both Genesys and Salesforce face challenges from cloud hyperscalers like AWS, Microsoft, and Google, which also offer contact center tools. Despite this, Genesys’ and Salesforce’s CX Cloud collaboration stands out by offering a unified framework that benefits customers through combined capabilities. As an example of this complex tech landscape, AWS is both a competitor and a top partner for reselling Genesys Cloud. Both companies agree that the real focus isn’t on competing with each other, but on helping customers solve challenges around customer engagement in an efficient and cost-effective way. The joint platform also integrates with other technologies, such as Google’s Contact Center AI and AWS tools like Lambda and Polly, making it adaptable to diverse enterprise needs. Both Genesys and Salesforce emphasize the importance of an open platform with pre-built integrations, allowing customers to get more value from both platforms faster than before. CX Cloud has seen adoption across various industries and company sizes, from large enterprises to smaller, faster-moving companies. Smaller businesses, in particular, have been quick to adopt this innovation, as it allows them to access enterprise-level integrations without needing to build custom solutions. Larger enterprises, such as ADP, have also benefitted from CX Cloud by using it to deliver proactive customer experiences, addressing potential issues before they arise. Overall, the partnership between Genesys and Salesforce exemplifies Co-opetition-a collaborative approach in a highly competitive market, enabling customers to leverage the strengths of both platforms for enhanced contact center operations. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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September 5, 2024in Generative AI
Salesforce Einstein SDR and Sales Coach Agents
29Aug

Salesforce Einstein SDR and Sales Coach Agents

Salesforce Introduces Autonomous AI Sales Agents: Einstein SDR Agent and Einstein Sales Coach Agent Salesforce, the leading CRM for sales, has announced two new fully autonomous AI sales agents: Einstein Sales Development Rep (SDR) Agent and Einstein Sales Coach Agent. These groundbreaking agents, set to be generally available in October, are designed to help sales teams accelerate growth by handling key sales functions autonomously. Built on the Einstein 1 Agentforce Platform, these agents are poised to transform how sales teams operate, allowing them to focus on more complex deals while automating routine tasks. Einstein SDR Agent: Automating Pipeline 24/7 The Einstein SDR Agent autonomously engages with inbound leads, nurturing pipelines around the clock. Unlike traditional chatbots, which can only respond to pre-programmed queries, the Einstein SDR Agent uses advanced AI to make decisions, prioritize actions, and handle various lead interactions. Whether it’s answering product questions, managing objections, or booking meetings, the SDR Agent ensures that every response is trusted, accurate, and personalized, grounded in your company’s CRM and external data. Key features of the Einstein SDR Agent include: Einstein Sales Coach Agent: Enhancing Seller Performance Through AI-Driven Role-Play Einstein Sales Coach Agent takes sales enablement to the next level by autonomously engaging in role-plays with sellers. Whether simulating a buyer during discovery, pitch, or negotiation calls, the Sales Coach Agent uses generative AI to convert text into speech, providing a realistic training environment. This agent helps sellers refine their skills by offering personalized feedback based on real deal contexts. Key features of the Einstein Sales Coach Agent include: Accenture’s Collaboration with Salesforce Accenture, a global leader in business consulting, will leverage these new AI agents to enhance deal team effectiveness, scale support for more deals, and allow their sales teams to concentrate on the most complex transactions. According to Sara Porter, Global Sales Excellence Lead at Accenture, these AI-driven tools will empower their sales practitioners with advanced technology and processes to drive more intelligent customer conversations and accelerate revenue. Salesforce’s Vision for AI in Sales Salesforce sees these autonomous AI agents as a key part of the future of sales. By integrating AI that can generate high-quality pipeline and provide personalized coaching, sales teams can focus on higher-value deals and better prepare for them. Ketan Karkhanis, EVP and GM of Sales Cloud, emphasizes that every AI conversation must translate into ROI, and these new agents are designed to do just that by augmenting human sales teams to accelerate growth. Availability Both Einstein SDR Agent and Einstein Sales Coach Agent will be generally available in October, with additional functionalities expected to be rolled out throughout the year. Learn More: Note: Any unreleased services or features mentioned here are not currently available and may be subject to changes. Customers should base their purchasing decisions from Salesforce on currently available features. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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August 29, 2024in Agentforce Platform, Generative AI, Salesforce Einstein
AI Capabilities for Nonprofit Cloud
28Aug

AI Capabilities for Nonprofit Cloud

Nonprofit organizations must ensure that every dollar they raise is not only accounted for but also allocated in ways that best support their mission. With its ability to streamline processes, optimize outcomes, and enhance data transparency, AI is poised to significantly impact the nonprofit sector. Salesforce has introduced new AI capabilities for Nonprofit Cloud designed to help organizations harness AI-driven decision-making and maximize their impact. AI-Powered Proposals and Summaries The latest AI and data enhancements in Nonprofit Cloud are designed to boost efficiency, personalize donor engagement, and ultimately increase fundraising opportunities. Built on the Einstein 1 Platform, Salesforce has introduced the following features: Closing Thoughts “Every nonprofit wants to provide the best experience for donors, volunteers, board members, staff — and most importantly, the people and causes they serve,” says Lori Freeman, VP & Global GM of Nonprofit at Salesforce. “But they have a lot to accomplish with limited resources. With industry-specific AI and data tools, Salesforce is helping nonprofits boost productivity by augmenting staff with AI, using data more effectively to build deeper relationships with their stakeholders, and ultimately, raising the funds needed to meet their mission.” The nonprofit sector stands to gain significantly from GenAI. By building on its existing Nonprofit Cloud, Salesforce addresses key challenges within the industry. What’s particularly noteworthy about these updates is the duality of outcomes supported by GenAI: it not only simplifies the tracking and sharing of campaign metrics, enabling better-informed decision-making, but it also enhances the personalization of donor engagement. While the ultimate goal is to increase funding, these advancements also underscore GenAI’s flexibility and its potential to rapidly transform organizational operations. Availability Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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August 28, 2024in Einstein 1 Platform, Salesforce for Nonprofits, Salesforce Nonprofit Cloud
Unlocking Enterprise AI Success
26Aug

Unlocking Enterprise AI Success

Companies are diving into artificial intelligence. Unlocking enterprise AI success depends on four main factors. Tectonic is here to help you address each. Trust is Important-Trust is Everything Data is everything—it’s reshaping business models and steering the world through health and economic challenges. But data alone isn’t enough; in fact, it can be worse than useless—it’s a risk unless it’s trustworthy. The solution lies in a data trust strategy: one that maximizes data’s potential to create value while minimizing the risks associated with it. Data Trust is Declining, Not Improving Do you believe your company is making its data and data practices more trustworthy? If so, you’re in line with most business leaders. However, there’s a disconnect: consumers don’t share this belief. While 55% of business leaders think consumers trust them with data more than they did two years ago, only 21% of consumers report increased trust in how companies use their data. In fact, 28% say their trust has decreased, and a staggering 76% of global consumers view sharing their data with companies as a “necessary evil.” For companies that manage to build trust in their data, the benefits are substantial. Yet, only 37% of companies with a formal data valuation process involve privacy teams. Integrating privacy is just one aspect of building data trust, but companies that do so are already more than twice as likely as their peers to report returns on investment from key data-driven initiatives, such as developing new products and services, enhancing workforce effectiveness, and optimizing business operations. To truly excel, companies need to create an ongoing system that continually transforms raw information into trusted, business-critical data. Data is the Backbone-Data is the Key Data leaks, as shown below, are a major factor on data trust and quality. As bad as leaked data is to security, data availability is to being a data-driven organization. Extortionist Attack on Costa Rican Government Agencies In an unprecedented event in April 2022, the extortionist group Conti launched a cyberattack on Costa Rican government agencies, demanding a $20 million ransom. The attack crippled much of the country’s IT infrastructure, leading to a declared state of emergency. Lapsus$ Attacks on Okta, Nvidia, Microsoft, Samsung, and Other Companies The Lapsus$ group targeted several major IT companies in 2022, including Okta, Nvidia, Microsoft, and Samsung. Earlier in the year, Okta, known for its account and access management solutions—including multi-factor authentication—was breached. Attack on Swissport International Swissport International, a Swiss provider of air cargo and ground handling services operating at 310 airports across 50 countries, was hit by ransomware. The attack caused numerous flight delays and resulted in the theft of 1.6 TB of data, highlighting the severe consequences of such breaches on global logistics. Attack on Vodafone Portugal Vodafone Portugal, a major telecommunications operator, suffered a cyberattack that disrupted services nationwide, affecting 4G and 5G networks, SMS messaging, and TV services. With over 4 million cellular subscribers and 3.4 million internet users, the impact was widespread across Portugal. Data Leak of Indonesian Citizens In a massive breach, an archive containing data on 105 million Indonesian citizens—about 40% of the country’s population—was put up for sale on a dark web forum. The data, believed to have been stolen from the “General Election Commission,” included full names, birth dates, and other personal information. The Critical Importance of Accurate Data There’s no shortage of maxims emphasizing how data has become one of the most vital resources for businesses and organizations. At Tectonic, we agree that the best decisions are driven by accurate and relevant data. However, we also caution that simply having more data doesn’t necessarily lead to better decision-making. In fact, we argue that data accuracy is far more important than data abundance. Making decisions based on incorrect or irrelevant data is often worse than having too little of the right data. This is why accurate data is crucial, and we’ll explore this concept further in the following sections. Accurate data is information that truly reflects reality or another source of truth. It can be tested against facts or evidence to verify that it represents something as it actually is, such as a person’s contact details or a location’s coordinates. Accuracy is often confused with precision, but they are distinct concepts. Precision refers to how consistent or varied values are relative to one another, typically measured against some other variable. Thus, data can be accurate, precise, both, or neither. Another key factor in data accuracy is the time elapsed between when data is produced and when it is collected and used. The shorter this time frame, the more likely the data is to be accurate. As modern businesses integrate data into more aspects of their operations, they stand to gain significant competitive advantages if done correctly. However, this also means there’s more at stake if the data is inaccurate. The following points will highlight why accurate data is critical to various facets of your company. Ease and speed of access Access speeds are measured in bytes per second (Bps). Slower devices operate in thousands of Bps (kBps), while faster devices can reach millions of Bps (MBps). For example, a hard drive can read and write data at speeds of 300MBps, which is 5,000 times faster than a floppy disk! Fast data refers to data in motion, streaming into applications and computing environments from countless endpoints—ranging from mobile devices and sensor networks to financial transactions, stock tick feeds, logs, retail systems, and telco call routing and authorization systems. Improving data access speeds can significantly enhance operational efficiency by providing timely and accurate data to stakeholders throughout an organization. This can streamline business processes, reduce costs, and boost productivity. However, data access is not just about retrieving information. It plays a crucial role in ensuring data integrity, security, and regulatory compliance. Effective data access strategies help organizations safeguard sensitive information from unauthorized access while making it readily available to those who are authorized. Additionally, the accuracy and availability of data are essential to prevent data

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August 26, 2024in Salesforce
Loan Boarding and Approval
24Aug

Loan Boarding and Approval

Streamlining Loan Boarding and Approval Processes with Salesforce Technology The financial services industry is undergoing a rapid transformation, driven by the need for greater efficiency and improved customer experiences. One area where this shift is particularly evident is in the loan boarding and approval processes. Leveraging Salesforce technology, financial institutions can streamline these essential workflows, enhancing both speed and accuracy while delivering a superior borrower experience. Understanding Loan Boarding Loan boarding is the process of transitioning a loan from its origination phase into servicing. This involves several key steps, including data entry, document management, and compliance checks. Traditionally, this process has been manual, cumbersome, and prone to errors. However, Salesforce offers robust capabilities that allow organizations to automate and optimize these tasks, significantly reducing inefficiencies. Automating Data Entry Salesforce facilitates automated data entry through its customizable forms and integration capabilities. Tools like Salesforce Flow and Apex enable businesses to create workflows that automatically populate fields based on predefined criteria or data extracted from documents using Optical Character Recognition (OCR) technology. This automation reduces manual errors and accelerates the loan boarding process. Efficient Document Management Effective document management is crucial in loan boarding. Salesforce provides a centralized platform for secure storage and easy access to all necessary documents. Features like Salesforce Files enable organizations to manage documentation efficiently, allowing for easy retrieval, sharing, and version control. This streamlined document management ensures that all relevant information is readily available throughout the loan lifecycle. Streamlining Handoff and Approval Processes After a loan is boarded, it must go through a series of approvals before disbursement. The handoff between departments such as underwriting and risk assessment can cause delays if not properly managed. Salesforce’s collaborative tools facilitate seamless communication among stakeholders, ensuring a smooth transition through the approval process. Customizable Approval Workflows Salesforce allows for the creation of customizable approval workflows, enabling organizations to define specific criteria for each stage of loan approval. This flexibility ensures that loans are reviewed by the appropriate personnel based on their complexity or risk profile. Automated alerts notify relevant team members when their input is needed, minimizing bottlenecks and keeping the process moving efficiently. Enhanced Visibility with Real-Time Dashboards One of Salesforce’s standout features is its ability to generate real-time dashboards that provide insights into various stages of the loan process. Stakeholders can monitor key metrics, such as the average time for approvals or the number of loans pending at each stage, through intuitive visualizations. This transparency promotes quicker decision-making and fosters accountability within the team. Seamless Disbursement Process Once loans are approved, the disbursement phase is the next critical step. Salesforce’s integration capabilities with payment processing systems, such as NACHA/ACH solutions, allow organizations to automate fund transfers directly within the platform, streamlining the disbursement process. Automating Payment Processing Automated triggers for payments can be set up within Salesforce, reducing the need for manual intervention. This automation speeds up the disbursement process and minimizes the risk of errors associated with manual data entry during fund transfers, ensuring a smooth and reliable process. Comprehensive Portfolio Management Managing a large loan portfolio requires meticulous tracking of various elements, including amortization schedules, repayments, interest accruals, and fees. Salesforce excels in these areas, offering tools to manage all aspects of a loan portfolio effectively. Dynamic Amortization and Repayment Schedules Salesforce enables the creation of dynamic amortization schedules tailored to individual borrower agreements, easily accessible via custom borrower portals. These portals enhance borrower engagement by providing real-time information about repayment obligations and remaining balances, improving transparency and customer satisfaction. Fee Automation Automating fee calculations within Salesforce reduces administrative burdens and ensures accurate billing according to agreed-upon terms. This feature helps avoid discrepancies and delays, providing a seamless experience for both the lender and the borrower. Risk Management and Collections In today’s volatile economic environment, effective risk management is essential for financial institutions. Salesforce’s advanced analytics and performance rating tools allow organizations to proactively identify potential risks before they escalate, enabling more informed lending decisions. Performance and Risk Ratings By analyzing historical data, Salesforce enables lenders to assign risk ratings based on borrowers’ past behaviors and external market conditions. This data-driven approach supports more accurate and strategic lending decisions, helping to mitigate risk. Effective Collections Strategies For overdue accounts, Salesforce’s task management features automate reminders and follow-ups, ensuring timely communication and effective debt recovery. Maintaining open communication channels with borrowers during the collections process is crucial for preserving relationships and achieving successful outcomes. Conclusion: Embracing Digital Transformation By embracing digital transformation through Salesforce technology, financial institutions can significantly streamline their loan boarding and approval processes. This not only enhances operational efficiency but also positions them competitively in a tech-driven marketplace, delivering the high-quality service that today’s consumers demand. Salesforce’s powerful tools enable institutions to meet the unique needs of their borrowers effectively, ensuring both efficiency and excellence in service delivery. 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August 24, 2024in Salesforce

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