Salesforce Inc (CRM) Expands AI Capabilities With Momentum Acquisition

Salesforce Inc. (NYSE:CRM) is one of the AI stocks that will go to the moon. On February 18, Salesforce Inc. (NYSE:CRM) entered into an agreement to acquire Momentum. The acquisition of the conversational insights and revenue orchestration platform will extend Agentforce 360 and Slackbot abilities to ingest and analyze unstructured data from third-party voice and video channels.

Salesforce plans to merge Momentum’s universal ingestion engine with Agentforce 360 and Slackbot to capture interactions from third-party voice and video applications. The merger should accelerate the company’s push to unlock the long tail of conversational data.

“Momentum accelerates our roadmap by unlocking the long tail of conversational data and bringing it directly into our platform. This ensures Agentforce 360 and Slackbot can incorporate the true voice of the customer to drive complex, multi-step workflows,” said Steve Fisher, President and Chief Product Officer at Salesforce.

On February 17, UBS lowered its price target of Salesforce to $200 from $260 while reiterating a Neutral rating. The price target cut follows discussion with Salesforce customers and partners. According to the research firm, feedback on Agentforce has improved significantly, and customers are not showing signs of replacing Salesforce with AI-built alternatives. However, the firm notes there is evidence of increasing backlog or revenue growth rates.

Salesforce Inc (NYSE:CRM) is a leading cloud-based software company that provides a comprehensive Customer Relationship Management (CRM) platform, connecting businesses with their customers through integrated AI, data, and applications.

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Disclosure: None. This article is originally published at Insider Monkey.