WEBVTT - Palantir Soars and Salesforce Expands It’s AI Toolkit 0:00:01.560 --> 0:00:06.840 From Marhart where Innovation, Money and power Collie in Silicon Valley, NBN. 0:00:07.160 --> 0:00:11.200 This is Bloomberg Technology with Caroline Hyde and Ed Ludlow. 0:00:24.840 --> 0:00:27.320 I'm Carolin Hyde at Bloomberg's Wiltid quarters in New York 0:00:27.760 --> 0:00:29.280 and I met Lolo in San Francisco. 0:00:29.480 --> 0:00:31.920 This is Bloomberg Technology coming up. 0:00:32.159 --> 0:00:34.879 Full coverage of tech earnings ahead. 0:00:34.600 --> 0:00:38.040 Is of course palents, SOLS and unprecedented AI demand while 0:00:38.159 --> 0:00:39.800 chipmakers struggle. 0:00:39.400 --> 0:00:43.680 To wather it, the industry downturn, plus Salesforce expanding its 0:00:43.720 --> 0:00:46.319 approach to the degenerative AI boom with a new set 0:00:46.360 --> 0:00:50.280 of tools unveiled. Salesforce co president Sarah Franklin joins us 0:00:50.320 --> 0:00:52.479 from the Tableau conference in Las Vegas. 0:00:52.479 --> 0:00:54.880 And we talked the state of fundraising as the startup 0:00:55.000 --> 0:00:58.960 UBI raises one hundred million dollars for AI powered car inspections, 0:00:59.360 --> 0:01:01.279 and we speak to the co founder of RX three, 0:01:01.320 --> 0:01:03.440 which is also raised one hundred and fifty million dollars 0:01:03.520 --> 0:01:08.240 from athletes and celebrities for its second growth equity fund. First, 0:01:08.400 --> 0:01:10.360 that's sort of the private money being raised. What's happening 0:01:10.440 --> 0:01:13.640 with your publicly traded companies today? We're nervous, cautious, and 0:01:13.800 --> 0:01:15.240 we see a bit of a pullback on the Nasdaq 0:01:15.280 --> 0:01:17.039 grow off by six tenths percent at the moment. 0:01:17.280 --> 0:01:19.119 This is all about worries about that debt. 0:01:19.040 --> 0:01:21.679 Ceiling coming front and center for the United States investor, 0:01:21.760 --> 0:01:24.120 but also what's happening in China. The worry about the 0:01:24.160 --> 0:01:26.800 impart demand not being as strong as we anticipated, is 0:01:26.959 --> 0:01:29.600 that global economy, one of the fire powers of the 0:01:29.640 --> 0:01:32.840 global economy not returning to growth post COVID as quickly. 0:01:32.680 --> 0:01:33.080 As we hoped. 0:01:33.120 --> 0:01:35.240 Golden Dragon therefore off by two point seven percent, and 0:01:35.360 --> 0:01:38.200 also anxiety around the regional banks once again front and 0:01:38.280 --> 0:01:39.800 center were off by nine tenths of a percent. 0:01:39.840 --> 0:01:40.920 So that's your macro picture. 0:01:40.959 --> 0:01:42.640 Let's move on to what's happening in the world of crypto, 0:01:42.640 --> 0:01:44.479 because today we see a little bit of caution. 0:01:44.600 --> 0:01:44.919 Overall. 0:01:44.959 --> 0:01:46.760 We're just off by about five tenths of a percent. 0:01:46.880 --> 0:01:49.840 We've had volatility in the og that is bitcoin today. 0:01:50.160 --> 0:01:51.800 Really this is more a story of where the dollar 0:01:52.000 --> 0:01:55.320 direction of travel is ahead of that debt ceiling demarcle, 0:01:55.680 --> 0:01:57.320 whether or not it's more about the crypto. 0:01:57.400 --> 0:01:58.920 We're just taking a bit of a pause on crypto. 0:01:59.000 --> 0:02:01.440 It feels on the day, ed Yeah, I'm afraid. The 0:02:01.480 --> 0:02:03.880 earning story also putting a lot of pressure to the downside. 0:02:03.880 --> 0:02:06.240 You take a look at PayPal lowering its margins outlook 0:02:06.440 --> 0:02:08.040 for the year. We're going to dig into the details 0:02:08.040 --> 0:02:10.640 around that later in the show. Lucid Group softer by 0:02:10.720 --> 0:02:13.840 eight percent, basically reguiding to the low end of its 0:02:13.919 --> 0:02:16.640 previously stated forecast. An automaker that's trying to catch up 0:02:16.680 --> 0:02:19.160 with Tesla but not making a lot of progress. Global 0:02:19.240 --> 0:02:22.000 Founderies again paying for the chip sector, seems to be 0:02:22.440 --> 0:02:23.840 in place through the end of the year. We're going 0:02:23.919 --> 0:02:25.840 to go to Bloomberg's Ian King, the guy you want 0:02:25.880 --> 0:02:28.880 to talk to when it comes to semiconductors. Global Foundry 0:02:28.919 --> 0:02:32.119 softer by five percent. The big name, the big mover 0:02:32.240 --> 0:02:35.480 to the upside is Palenteer up around twenty percent so 0:02:35.680 --> 0:02:38.760 far in Tuesday session, a couple of percentage points more, 0:02:39.040 --> 0:02:40.720 and this is a stop that's heading for his biggest 0:02:40.800 --> 0:02:43.600 jump since January twenty twenty one. They've shown their hand 0:02:43.680 --> 0:02:46.280 with a new AI tool and talk about talks about 0:02:46.520 --> 0:02:50.600 unprecedented demand for that AI tool during the earning school. 0:02:50.680 --> 0:02:52.040 I want to get more on this story and bring 0:02:52.120 --> 0:02:55.079 in Bloomberg's Lazette Champman, who's here with us in San Francisco. 0:02:55.639 --> 0:02:58.639 The palentin AI tool is atte what is it? Hey there? 0:02:58.919 --> 0:03:03.320 Yeah, you know, palent here had a Crackerjack quarter. It 0:03:03.400 --> 0:03:05.799 had a surprise profit. It said it was going to 0:03:05.840 --> 0:03:08.200 be profitable not only this current quarter but for the 0:03:08.360 --> 0:03:13.520 entire year, and they had unprecedented demand for their AI platform, 0:03:13.560 --> 0:03:16.639 which you know, as the CEO Alex Kark said, is 0:03:17.080 --> 0:03:20.680 still under construction. They don't exactly have a pricing strategy, 0:03:21.040 --> 0:03:24.360 but they are in conversations with hundreds of their hundreds 0:03:24.440 --> 0:03:29.760 of their customers about incorporating this into their into their plans. 0:03:30.160 --> 0:03:34.239 His turn of phrase, he's not shy of using sometimes 0:03:34.320 --> 0:03:35.520 more controversial language. 0:03:35.680 --> 0:03:37.200 He says in large language. 0:03:36.840 --> 0:03:40.600 Models as a revolution that will raise ships and sinkshit 0:03:40.720 --> 0:03:44.440 will raise ships and sink ships. I'm just I'm fascinated 0:03:44.520 --> 0:03:48.240 by the fact how this sits with people ultimately about 0:03:48.320 --> 0:03:51.240 generative AI studying in large language models helping us in 0:03:51.280 --> 0:03:53.280 the battlefield, right. 0:03:53.440 --> 0:03:55.600 I think that there's been a huge demand for that 0:03:56.240 --> 0:03:59.800 based on the you know, in increased interest both from 0:04:00.320 --> 0:04:03.160 you know, are the United States Department of Defense as 0:04:03.400 --> 0:04:06.040 well as our allies, and so it's very much seen 0:04:06.080 --> 0:04:11.280 as a critical asset in a software first defense scenario 0:04:12.440 --> 0:04:16.280 given the rising tensions with China and Russia and others 0:04:16.320 --> 0:04:19.560 that are not necessarily friendly to US interest. So there 0:04:19.680 --> 0:04:23.839 is definitely a defense application. More than half of Palanteer's 0:04:23.880 --> 0:04:27.640 revenue does come from the government sector, which includes not 0:04:27.760 --> 0:04:30.359 only the Department of Defense and all of its branches, 0:04:30.400 --> 0:04:32.880 but also those of our allies. So it's very much 0:04:33.000 --> 0:04:38.640 geared toward a defense context, along with some commercial applications. 0:04:38.800 --> 0:04:41.159 Well, so astonishing about this story. Yeah, the stocks up 0:04:41.200 --> 0:04:44.600 twenty percent because of AI. Also surprise profit and no 0:04:44.640 --> 0:04:45.960 one's really talking about. 0:04:45.720 --> 0:04:48.840 It, right, Well, let's dig into that a little bit more. 0:04:50.080 --> 0:04:51.919 It's a surprise profit. 0:04:52.040 --> 0:04:54.680 And one of the things that I think that was 0:04:54.800 --> 0:04:57.240 interesting was that they achieved this two years before they 0:04:57.279 --> 0:05:00.280 originally said they would. Originally the plan was for them 0:05:00.320 --> 0:05:04.400 to hit gap profitability by twenty twenty five. Now they're 0:05:04.400 --> 0:05:06.000 saying that they will do it for this full year 0:05:06.400 --> 0:05:10.080 and they will maintain profitability, will continuing to reorient all 0:05:10.120 --> 0:05:15.440 of their resources. That's thousands of employees around building this 0:05:15.600 --> 0:05:16.480 AI platform. 0:05:17.600 --> 0:05:20.400 Absolutely extraordinary, I mean, big move on the stock. 0:05:20.640 --> 0:05:22.800 Great to have Lizette breaking it all down on the 0:05:22.839 --> 0:05:25.280 surprise profit side of the equation as well as all 0:05:25.360 --> 0:05:27.600 in on AI as another company seems to be we 0:05:27.720 --> 0:05:30.000 thank you so much for coming in and joining the show. Meanwhile, 0:05:30.040 --> 0:05:32.080 let's turn to another key company that's out with earnings 0:05:32.120 --> 0:05:34.960 and look, the share price is not having a similar reaction. 0:05:35.160 --> 0:05:39.240 Global foundryes signaling weakness in its outlook on muted chip demand. More, 0:05:39.320 --> 0:05:41.560 let's go out to really most in king, the king 0:05:41.640 --> 0:05:44.760 of all things when it comes to our chip coverage 0:05:44.800 --> 0:05:47.840 here in what do you make of what this is signaling? 0:05:48.080 --> 0:05:50.200 More broadly, because we keep on waiting. 0:05:50.000 --> 0:05:52.520 For there to be some sort of turnaround, Is in 0:05:52.560 --> 0:05:54.719 any way Global Foundry is a bell weather for the sector? 0:05:55.640 --> 0:05:56.640 Yeah, one hundred percent. 0:05:56.760 --> 0:05:58.480 A good way to look at them is a smaller 0:05:58.560 --> 0:06:02.920 version of TSNC through their customers. Effectively, they're in the 0:06:03.400 --> 0:06:06.520 auto chip business, they're in the data center business, they're 0:06:06.560 --> 0:06:10.039 in the mobile phone business. And the outlook that they 0:06:10.160 --> 0:06:14.000 gave today unfortunately reflects a lot of what's been said 0:06:14.040 --> 0:06:16.760 throughout this ending season and that's not particularly positive. 0:06:18.279 --> 0:06:22.200 Next, therefore, are we tending to start to think we 0:06:22.279 --> 0:06:24.039 can call a bottom on this? Did they in any 0:06:24.120 --> 0:06:26.640 way say okay, this isn't looking good in the meantime, 0:06:26.680 --> 0:06:28.200 in the here and the now, but we see some 0:06:28.400 --> 0:06:29.920 sort of light at the end of the tunnel. 0:06:30.800 --> 0:06:33.560 Yeah, No, it's a very good question. They're basically effectively 0:06:33.600 --> 0:06:35.880 speaking out of both sides of their mouth, which a 0:06:35.920 --> 0:06:37.720 lot of chip companies have been doing, which is and 0:06:37.800 --> 0:06:40.599 what they've been saying is quarter one that was the worst, 0:06:40.680 --> 0:06:43.080 that was the absolute bottom, and things will get better 0:06:43.120 --> 0:06:46.240 from here. But things will not get better at the 0:06:46.360 --> 0:06:49.920 rate we thought that they would. So that's obviously causing 0:06:50.040 --> 0:06:53.679 some concern. Can we believe this kind of rose tinted 0:06:54.160 --> 0:06:56.560 scenario for the second half of the year, And again 0:06:56.680 --> 0:06:58.960 Global Foundery said, not looking as good as we thought 0:06:59.000 --> 0:06:59.520 it had. 0:07:00.440 --> 0:07:04.520 Just on the specifics here in what particular areas of 0:07:04.600 --> 0:07:06.720 demand When you say it's like a good bell weather 0:07:06.839 --> 0:07:09.880 or smaller ty SMC or whatever they likes, What particular 0:07:09.880 --> 0:07:13.520 areas of demand are we so worried about smartphones? 0:07:13.760 --> 0:07:14.840 Has got to be number one. 0:07:14.920 --> 0:07:18.640 I mean, they effectively repeated what Qualcom said, which is, 0:07:19.280 --> 0:07:21.920 China hasn't come back as quick as we thought. The 0:07:22.040 --> 0:07:24.400 inventory that we said was going to be burned away 0:07:24.560 --> 0:07:26.440 by the middle of the year looks like it's going 0:07:26.520 --> 0:07:28.560 to be hanging around into the second half of the year, 0:07:29.160 --> 0:07:32.160 So they're saying, Look, supply is kind of getting better, 0:07:32.360 --> 0:07:37.560 that position is improving, but demand whereas demand. 0:07:38.160 --> 0:07:40.280 It's interesting that when you in video was a big 0:07:40.360 --> 0:07:42.640 drag today and indeed, as you've pointed out, sort of, 0:07:42.680 --> 0:07:44.000 this has been a bit of a bell weather for 0:07:44.000 --> 0:07:46.120 the entire ship sector on the day, and a video 0:07:46.160 --> 0:07:48.200 actually hit at fifty two week high yesterday. 0:07:49.120 --> 0:07:51.680 The areas are we going to get both bifurcated market? 0:07:51.680 --> 0:07:54.360 Are we going to see the chip makers, designers that 0:07:54.560 --> 0:07:56.720 are all in on AI doing well and those that 0:07:56.800 --> 0:07:59.400 aren't languishing because they're consumer exposed. 0:08:00.560 --> 0:08:02.040 Yeah, I mean that would appear to be the way 0:08:02.040 --> 0:08:02.480 to look at it. 0:08:02.640 --> 0:08:04.880 Look at the only green dot on my screen today 0:08:05.040 --> 0:08:08.800 was AMD and that's definitely a play on the future 0:08:08.840 --> 0:08:12.840 of AI and what investors are expecting to happen. 0:08:12.880 --> 0:08:15.760 The Bloombergsie and King joining us out of San Francisco, 0:08:24.640 --> 0:08:28.720 Salesforce expanding its approach to generative AI with the reimagined 0:08:28.800 --> 0:08:33.040 version of its Tableau suite called Tableau GPT and also 0:08:33.160 --> 0:08:36.400 Tableau Pulse for more ns. We welcome Salesforce co president 0:08:36.480 --> 0:08:39.240 Sarah Franklin, who's coming to us from the Tableau conference 0:08:39.320 --> 0:08:42.160 out in Las Vegas. Let's get straight to the why, 0:08:42.760 --> 0:08:44.959 why is Salesforce doing this and why now? 0:08:45.480 --> 0:08:49.240 So big picture, Salesforce has been a pioneer in AI 0:08:49.640 --> 0:08:53.720 for over a decade. We created Einstein, which brought everyone 0:08:53.840 --> 0:08:54.920 to have their own data. 0:08:54.760 --> 0:08:58.360 Scientists about a decade ago, and now today. 0:08:58.240 --> 0:09:01.679 We're delivering over a trillion prediction every week for all 0:09:01.720 --> 0:09:04.600 of our hundreds of thousands of customers, which brought them 0:09:04.640 --> 0:09:09.080 into AI. And now we've moved from predictive to generative, 0:09:09.600 --> 0:09:13.160 and Salesforce, who has led every seismic shift and technology 0:09:13.240 --> 0:09:16.280 from going to cloud, to mobile to social, we are 0:09:16.360 --> 0:09:18.800 here right at the forefront leading all of our customers 0:09:18.920 --> 0:09:22.520 into dinnerative AI with Tableau GPT and Tableau Pulse. 0:09:22.800 --> 0:09:25.199 So, Sarah, you're out at the Tableau conference. The other 0:09:25.320 --> 0:09:28.959 tool announced is Slack GPT. So the question is this 0:09:29.760 --> 0:09:33.199 is this you trying to get Salesforce customers to use 0:09:33.280 --> 0:09:36.120 the services of other things you've acquired in recent years. 0:09:36.720 --> 0:09:40.120 So, Salesforce, we have an incredible suite across the entire 0:09:40.200 --> 0:09:45.120 customer through sixty sales service marketing commerce lack has been 0:09:45.120 --> 0:09:49.720 an incredible addition to our portfolio helping everyone have great 0:09:50.160 --> 0:09:54.800 productive employees. And we ask ourselves a question, how do 0:09:54.880 --> 0:09:57.760 you make every employee more productive? How do you make 0:09:57.840 --> 0:10:02.000 every customer more happy? How do you provide incredible customer 0:10:02.040 --> 0:10:05.800 service and sales and marketing and a fully integrated single. 0:10:05.600 --> 0:10:07.120 Source of truth of your customers? 0:10:07.520 --> 0:10:10.520 And so yes, by providing that entire suite of products 0:10:10.559 --> 0:10:13.920 for our customers, they can all have better customers and 0:10:14.280 --> 0:10:17.679 better employees. And it's really important that we give them 0:10:17.920 --> 0:10:20.079 all of their data so they can unlock it and 0:10:20.240 --> 0:10:23.720 really have that trusted customer and company data to use 0:10:23.840 --> 0:10:27.719 generative AI and to have tabloa GPT really bring that 0:10:27.880 --> 0:10:31.480 data to life for everyone that's involved in customer engagement. 0:10:31.720 --> 0:10:34.320 Caroline data is really the key point, isn't it, Particularly 0:10:34.320 --> 0:10:36.559 when we're talking about enterprise is a use case for 0:10:36.640 --> 0:10:40.280 generative AI tools. There's an element of concern about the 0:10:40.440 --> 0:10:42.360 data it's sourcing and how it's secure. 0:10:42.480 --> 0:10:44.760 Yeah, and so to that point, you use trusted a 0:10:44.840 --> 0:10:47.480 number of times there or single source of truth. Is 0:10:47.559 --> 0:10:51.640 there any concern that generative AI does just make some 0:10:51.880 --> 0:10:54.360 things up? If there is a hole in the private 0:10:54.480 --> 0:10:56.760 data that this is being run on the so called 0:10:56.800 --> 0:10:59.319 hallucinations and many people to take issue with that particular 0:10:59.360 --> 0:11:01.400 turn of phrase, But is that happening? How do you 0:11:01.559 --> 0:11:03.439 ensure that people are getting the right insights at the 0:11:03.520 --> 0:11:03.880 right time. 0:11:04.360 --> 0:11:09.040 Trust is absolutely paramount, As we've discussed just now, Every 0:11:09.160 --> 0:11:11.680 company wants to have trusted data. 0:11:11.720 --> 0:11:14.240 They need to know that they have their data is 0:11:14.280 --> 0:11:14.800 being trusted. 0:11:14.840 --> 0:11:18.480 Their customers expect them to trust them with their data 0:11:18.800 --> 0:11:21.679 and salesforce at our core, we have always had trust 0:11:21.800 --> 0:11:26.920 other number one value, and so having trusted data is 0:11:27.000 --> 0:11:30.280 important because your AI is only as good as your data, 0:11:30.679 --> 0:11:33.880 and so no company wants to bring hallucinations, as you say, 0:11:34.040 --> 0:11:34.920 into the enterprise. 0:11:35.240 --> 0:11:37.120 They need to know that they can trust the AI. 0:11:37.679 --> 0:11:40.439 And that's why our approach is founded on trust and 0:11:40.559 --> 0:11:43.120 we always have a human in the process because the 0:11:43.160 --> 0:11:46.040 AI is here to help us, not to not to 0:11:46.160 --> 0:11:49.360 replace us, and so that's so important that the data 0:11:49.520 --> 0:11:52.000 is trusted, so that you can also trust the generative 0:11:52.080 --> 0:11:54.040 AI that's being created from that data. 0:11:54.280 --> 0:11:57.200 Interesting, so I'm feeling that you're on the AIS here 0:11:57.280 --> 0:12:00.800 to augment us humans rather than take away our jobs. 0:12:00.880 --> 0:12:04.000 But you are someone who's built your career on the 0:12:04.080 --> 0:12:07.600 democratization of technology, or someone who's se passive passionate about 0:12:07.880 --> 0:12:10.640 how with ease people can change. 0:12:10.360 --> 0:12:12.520 From a blue collar job to a white college job. 0:12:12.480 --> 0:12:15.199 Using, for example, the ways in which you've used trailheading 0:12:15.320 --> 0:12:19.079 for example. But are you brought a picture here thinking 0:12:19.160 --> 0:12:22.520 AI is going to inevitably take white college jobs at 0:12:22.559 --> 0:12:22.920 the moment. 0:12:24.640 --> 0:12:27.760 So I really want to look at generative AI as 0:12:27.760 --> 0:12:29.240 an incredible opportunity for us. 0:12:29.600 --> 0:12:32.480 It's really interesting when you rewind back in history and 0:12:32.600 --> 0:12:33.840 you think of the first computer. 0:12:34.320 --> 0:12:37.599 The first computer was a person, not a machine, and 0:12:37.679 --> 0:12:40.360 there's a lot of fear that it would replace us 0:12:40.679 --> 0:12:44.280 in our jobs. Fast forward to today, we don't have 0:12:44.559 --> 0:12:47.160 enough skilled talent for all of the jobs that work 0:12:47.240 --> 0:12:50.720 with computers and work in tech, and so we're already 0:12:50.800 --> 0:12:54.360 seeing new careers being created such as prompt engineering or 0:12:54.640 --> 0:12:55.880 AI illustrations. 0:12:56.320 --> 0:12:58.040 There's just a lot of opportunity. 0:12:58.520 --> 0:13:02.280 So we as an industry and as salesforce, we do 0:13:02.480 --> 0:13:05.000 take it as a responsibility to scale people up for 0:13:05.040 --> 0:13:08.040 the future. We created Trailhead as a free online learning 0:13:08.080 --> 0:13:11.800 platform to democratize all of this technology so everyone can 0:13:11.880 --> 0:13:15.480 have access and everyone can learn. There's an incredible opportunity 0:13:16.000 --> 0:13:19.160 and we want to make it easy and accessible for everyone, 0:13:19.559 --> 0:13:22.000 and we can also hopefully change the ratios and tech 0:13:22.040 --> 0:13:24.880 in the process. But yes, we are here to help 0:13:24.920 --> 0:13:28.160 skill people up and help remove the fear from this 0:13:28.360 --> 0:13:31.760 incredible new generation of technology we see with generative AI. 0:13:32.320 --> 0:13:34.959 Sarah, how are these new tools driving sales for Salesforce? 0:13:36.640 --> 0:13:40.360 So Generative AI is everything that all of our customers 0:13:40.400 --> 0:13:43.000 are talking about. They are wondering how to future prove 0:13:43.040 --> 0:13:45.920 their business in the wake of this new technology trend, 0:13:46.440 --> 0:13:49.079 and it's here to stay. It's not a bad and 0:13:49.200 --> 0:13:51.880 so every single one of our customers is looking at 0:13:51.920 --> 0:13:54.800 Salesforce right now and saying, we trust you. We know 0:13:54.880 --> 0:13:56.880 that you will guide us into this future, just like 0:13:56.960 --> 0:14:00.680 you guided us into cloud, into mobile, into social. So yes, 0:14:01.040 --> 0:14:03.719 every single one of our customers wants Salesforce GPT to 0:14:03.760 --> 0:14:04.200 help them. 0:14:04.120 --> 0:14:07.360 With sales GPP, service GPT, marketing GPT and more. 0:14:07.640 --> 0:14:11.719 And Tablot GPT and tablet Pulse are incredible innovations that 0:14:11.760 --> 0:14:13.880 are going to help fuel all of our customers' success. 0:14:14.400 --> 0:14:17.040 In your career, as Caroline pointed out, you've been through 0:14:17.120 --> 0:14:21.360 waves of new technological advancement. This has happened quite quickly. 0:14:22.560 --> 0:14:25.680 Did Salesforce really plan these tools over a really long 0:14:25.720 --> 0:14:27.640 period of time, or is this something that you've rushed 0:14:27.720 --> 0:14:30.760 through in recent weeks in response to what the rest 0:14:30.800 --> 0:14:31.840 of the industry's done. 0:14:32.160 --> 0:14:34.040 So this is what's so powerful is. 0:14:34.080 --> 0:14:37.680 That Salesforce has been a pioneer in AI for over 0:14:37.760 --> 0:14:40.440 a decade. We've been investing in Einstein, which is our 0:14:40.520 --> 0:14:44.760 AI platform, and we have seen, as I mentioned earlier, 0:14:45.760 --> 0:14:49.440 we have over one trillion predictions being done every single 0:14:49.520 --> 0:14:52.600 week on our AI platform. So this is not something 0:14:52.720 --> 0:14:54.680 that we're just pulling out of a hat. We have 0:14:54.760 --> 0:14:57.000 been investing in this for a long time, and we 0:14:57.120 --> 0:15:01.480 have the world's best data scientists that are here at Salesforce, 0:15:01.760 --> 0:15:05.400 and they're generating all kinds of incredible large language models 0:15:05.480 --> 0:15:08.840 that help us create code, that help us create reply response, 0:15:09.080 --> 0:15:10.320 that help us create. 0:15:10.400 --> 0:15:12.920 Great engagement and ways for like you. 0:15:12.960 --> 0:15:16.000 See with Tableau GBT and Tableau Pulse, for people to 0:15:16.080 --> 0:15:18.360 really bring their data to life, where in the past 0:15:18.440 --> 0:15:20.600 they haven't been able to really do that easily. So 0:15:21.200 --> 0:15:23.480 this has been something Salesforce has been doing for a 0:15:23.560 --> 0:15:26.880 long time and will continue to be a leader in generative. 0:15:26.480 --> 0:15:30.200 AI, a leader at a time where the macro headwinds 0:15:30.400 --> 0:15:33.240 for every single industry are tough at the moment, and Sarah, 0:15:33.280 --> 0:15:35.520 as you talk about the in house talent that you 0:15:35.640 --> 0:15:37.840 have to keep building, it's at a time where we 0:15:37.960 --> 0:15:40.120 know companies like you also are having to lay off staff, 0:15:40.240 --> 0:15:42.760 having to slim down in the face of what has 0:15:42.800 --> 0:15:43.880 been a slowing economy. 0:15:44.120 --> 0:15:45.680 Have you got the right mix of talent in the 0:15:45.720 --> 0:15:46.120 moment you. 0:15:46.160 --> 0:15:51.400 Think at Salesforce, we have the most talented engineers, marketeers, salespeople. 0:15:51.480 --> 0:15:54.200 We have the best people in the business at Salesforce, 0:15:54.760 --> 0:15:58.040 and we are more equipped than ever. Our company is 0:15:58.120 --> 0:16:00.400 in a great spot set up for the decades to come. 0:16:01.000 --> 0:16:04.600 We're laser focused on our customers, on our innovation, and 0:16:04.720 --> 0:16:06.560 really delivering success for everyone. 0:16:07.160 --> 0:16:09.360 Sarah Franklin, thanks for spending some time with us co 0:16:09.520 --> 0:16:10.600 president of Salesforce. 0:16:10.680 --> 0:16:10.840 There. 0:16:11.360 --> 0:16:13.480 Meanwhile, ed one of the biggest concerns, of course, that 0:16:13.560 --> 0:16:16.800 comes with using artificial intelligence just in our daily lives, Well, 0:16:16.920 --> 0:16:19.120 we're just talking about being replaced by it, especially for 0:16:19.240 --> 0:16:21.440 those that work in the media landscape. 0:16:21.640 --> 0:16:22.880 Enter GPT zero. 0:16:23.040 --> 0:16:26.320 It's an app launch to distinguish whether copy was written 0:16:26.400 --> 0:16:29.320 by a human or by artificial intelligence. More than one 0:16:29.480 --> 0:16:32.200 million users of registered since January and the brain behind 0:16:32.240 --> 0:16:33.960 the app is just a twenty two year old from 0:16:33.960 --> 0:16:37.120 Princeton University. A student is also launching a new program 0:16:37.280 --> 0:16:39.840 called Origin, which aims to weed out disinformation in the 0:16:39.880 --> 0:16:42.760 online media generated by AI. It secured three and a 0:16:42.760 --> 0:16:45.200 half million dollars in funding so far. 0:16:45.400 --> 0:16:49.200 Ed Yeah, let's stick with AI. IBM introducing a platform 0:16:49.280 --> 0:16:52.520 for large companies to train and use AI models. When 0:16:52.560 --> 0:16:55.600 it rains, it pours Caroline, the company leaning in on 0:16:55.640 --> 0:16:58.680 its Watson legacy to stand out in a crowded field 0:16:59.040 --> 0:17:01.480 for AI. Tool have to say, not doing much to 0:17:01.520 --> 0:17:07.719 support the shares this Wednesday Tuesday. Sorry, down one right 0:17:07.840 --> 0:17:10.639 and at a seven month low. So many headlines in 0:17:10.680 --> 0:17:14.439 the field of AI now coming up. Regional banks resume 0:17:14.520 --> 0:17:16.840 their sell off as uncertainty hits the sector. We're going 0:17:16.880 --> 0:17:19.560 to discuss that next in our weekly Wall Street Beat. 0:17:19.960 --> 0:17:21.200 This is bloomberg. 0:17:40.640 --> 0:17:43.440 Time for Wall Street Beat. Pack West and Western Alliance 0:17:43.520 --> 0:17:45.919 led regional bank stocks lower today as the hard hit 0:17:46.040 --> 0:17:49.359 sector resumed its decline. The drop comes as investors remain 0:17:49.440 --> 0:17:52.600 unnerved by a rash of deposit outflows from banks and 0:17:52.720 --> 0:17:57.399 increasing concerns about general stability. Plus Linked in the latest 0:17:57.480 --> 0:18:00.080 tech company to join the wave of job cuts. The 0:18:00.119 --> 0:18:02.760 company plans to shut its jobs app in China and 0:18:02.840 --> 0:18:05.920 cut about seven hundred and sixteen jobs as the networking 0:18:06.000 --> 0:18:10.160 service further shrinks its presence in the world's second largest economy, 0:18:10.800 --> 0:18:13.879 and a group of firms including Goldman, Sachs and Microsoft 0:18:13.960 --> 0:18:18.920 adjoining a new blockchain system aimed at linking disparate institutional applications, 0:18:19.119 --> 0:18:24.560 potentially encouraging broader adoption of distributed ledger technology in financial markets. 0:18:24.880 --> 0:18:28.000 Participants in the Canton network, which will start testing some 0:18:28.160 --> 0:18:31.879 features in July, say the system offers better privacy and 0:18:32.080 --> 0:18:35.520 controls than currently available AI. At the same time, it 0:18:35.560 --> 0:18:40.080 will achieve a scale and standard appropriate for financial institutions. 0:18:40.119 --> 0:18:42.840 That all according to a quite long statement released by 0:18:42.880 --> 0:18:44.080 the companies on Tuesday. 0:18:45.640 --> 0:18:49.520 Yeah, a little one to dig into. Basically, blockchain is back. Meanwhile, 0:18:50.000 --> 0:18:53.399 we els is back. Celebrities endorsing brands are x three 0:18:53.520 --> 0:18:56.320 raising one hundred and fifty million dollars from athletes from 0:18:56.320 --> 0:18:59.400 celebrities were at Second Equity Fund where they really analyze 0:18:59.400 --> 0:19:00.640 some consumer opportunities. 0:19:00.680 --> 0:19:02.399 We've got an exclusive interview for you coming up. 0:19:02.440 --> 0:19:04.600 Nate Robb's going to be joining us managing partner at 0:19:04.680 --> 0:19:07.200 our ex three ventures that's up next. 0:19:07.320 --> 0:19:10.040 Meanwhile, another stot that we've got an eye on Nintendo. 0:19:10.600 --> 0:19:15.320 Wow, the Mario maker is learning and warning a big 0:19:15.400 --> 0:19:18.639 slowdown in the switch console sales. This is a key concern, 0:19:18.720 --> 0:19:21.480 but actually Nintendo managing to tread above water at the moment, 0:19:21.520 --> 0:19:23.600 at least over the last few trading days. But it 0:19:23.640 --> 0:19:25.919 seems as though maybe you want too many consoles out there. 0:19:26.040 --> 0:19:27.320 D you know you're the expert on this one. 0:19:28.160 --> 0:19:29.920 Yeah, look, I am tracking Mobile. I we kind of 0:19:29.960 --> 0:19:32.280 pared some earlier gains. We're up sort of more than 0:19:32.359 --> 0:19:34.720 nine percent. After we did an interview with the CEO 0:19:34.960 --> 0:19:38.200 the company reaching a deal with Porsche to just basically 0:19:38.320 --> 0:19:42.720 give them their advanced driver technology assistance technology going forward. 0:19:42.880 --> 0:19:45.359 The CEO telling me that actually we could see the 0:19:45.440 --> 0:19:48.720 tech in real cars in production sooner than we might think. 0:19:48.800 --> 0:19:49.240 Have a listen. 0:19:49.800 --> 0:19:53.359 Normally, when you get a design, when it's between two 0:19:53.440 --> 0:19:56.920 to three years until you have started off production. So 0:19:57.240 --> 0:20:00.800 we're talking about the same timeframe. But we started working 0:20:01.040 --> 0:20:04.600 a few months early before this announcement, so you can 0:20:04.680 --> 0:20:07.480 do this smath then come up with a start of production. 0:20:08.320 --> 0:20:10.680 I would say, Caroline, this is a deal that the 0:20:10.800 --> 0:20:13.960 mobile it's in recent weeks, particularly on the earnings care 0:20:14.119 --> 0:20:17.959 or wondering who is this mysterious European automaker the mobilized 0:20:18.040 --> 0:20:21.320 doing businesses. Well, it's a pretty decent one poor show. 0:20:21.359 --> 0:20:23.119 It'll be interesting to see if this moves the needle 0:20:23.160 --> 0:20:33.320 for them and they get some more deals. Welcome back 0:20:33.320 --> 0:20:35.680 to Bloomberg Technology. I'm ed love Low in San Francisco. 0:20:35.760 --> 0:20:37.400 I'm Caroline Heard in New York. And let's dig into 0:20:37.440 --> 0:20:39.080