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A year ago today, we introduced Salesforce Einstein, the first comprehensive AI for CRM that empowers everyone to work smarter, not harder and enabling more productive, impactful decision-making. It was a big undertaking-- some even said impossible-- but we pulled it off. Today we are celebrating a year of Salesforce Einstein product innovation, customer success and research advancements.
When we set out to build Einstein three years ago, enterprise AI was still uncharted territory and out of reach for most companies. With a lot of hard work, determination and creativity, we were able to build the first and only automated machine learning framework to deliver tailored AI to every Salesforce customer. Einstein democratizes AI by removing the complexity and embedding self-learning AI models directly into business workflows. Now every employee is empowered to be smarter, more productive and predictive.
In the inaugural year of Einstein, we’ve delivered 18 Einstein-powered features across the Salesforce Platform, generating more than 475 million predictions across the platform each day. AI was once a pipedream for sales reps trying to prioritize their leads, service agents looking to provide more proactive service, and marketers struggling to deliver personalized campaigns. But today, it is a reality. As part of our mission to democratize AI, we’ve also empowered developers to build AI-powered apps with Einstein Platform Services. More than 7,000 developers of all skill levels are already bringing Einstein’s computer vision and natural language processing capability to their CRM apps.
And we’re just getting started. In fact, today we announced the next generation of Sales Cloud Einstein, creating smarter sales leaders and reps and driving more predictable business growth. Sales leaders still struggle to properly prioritize their days and rely upon incomplete spreadsheets and antiquated systems to forecast sales projections, resulting in inaccurate forecasts, underperformance, and a disconnected business. Today’s updates use machine learning and data mining to take the guesswork out of sales. Here’s a snapshot of our exciting new features:
Einstein Forecasting: Makes highly accurate sales forecasts by analyzing key factors like seasonality, historical performance, and data from the opportunity lifecycle like stage durations and stage changes. A unique mix of self-learning algorithms 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 so they know what to expect from the pipeline and why.
Einstein Opportunity Scoring: The biggest question in sales is typically: “is this deal going to close on time?” Einstein Opportunity Scoring aims to answer just that. By applying NLP and machine learning to all the relevant CRM data - like deal size, level of executive engagement, length of time in various stages, email communications and more - Opportunity Scoring identifies which leads are most likely to close and which deals might be in jeopardy. Armed with that insight, sales reps then can stay focused on the right deals and not waste their time on deals unlikely to close.
Einstein Email Insights: Powered by 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. Proactive action and response recommendations enable reps to keep deals moving, from scheduling a meeting to sending a quote.
By 2021, AI for CRM will increase global business revenues by $1.1 trillion and create 800,000 net-new jobs, according to IDC. This presents an incredible opportunity for companies of all sizes and industries, and Einstein customers including US Bank, FareCompare and others are already reaping the benefits. New York-based consulting firm Silverline, for example, is saving reps one hour per day in manual data entry with Einstein Activity Capture and Opportunity Insights helps identify deal risks so that salespeople can focus on the right pipeline and increase win rates. As a result, Silverline is seeing a 30% higher close rate. Another great example is modern furniture company Room & Board, which is using Einstein Recommendations to deliver highly accurate product recommendations in every email, leading to a 150% higher conversation rate. Outdoor gear and apparel company Black Diamond is also using Einstein Recommendations to improve online shopping experiences for its customers. By predicting the most relevant products for each shopper, revenue per site visitor has increased by 15%.
Einstein has made impressive technical strides in its first year, and with Salesforce Research we are able to continue to innovate at an incredible pace. Under the leadership of Chief Scientist Dr. Richard Socher, the group is focused on bringing advancements in deep learning to every Salesforce customer and has published 10 papers in just one year. The research breakthroughs have covered improvements to text summarization, top performance on the Stanford Question Answering Dataset (SQuAD) leaderboard, and a new model for allowing business users to ask questions of datasets in plain English.
We’ve accomplished a lot in Einstein’s first year, but this is just the beginning as we continue on our mission to democratize AI for everyone. We’ve got more exciting news coming at Dreamforce that we can’t wait to share with you. See you there!
