Salesforce CFO explains how AI will impact the tech giant

In This Article:

Salesforce CFO and President Amy Weaver (CRM) sits down with Yahoo Finance's Brian Sozzi at Salesforce’s 2023 Dreamforce Conference to share her thoughts on all things AI and how Salesforce is at the forefront of the AI revolution. On what AI means for Salesforce's bottom line, Weaver notes that while the company was able to raise guidance, AI is not "part of our guide for this year," but will have an impact in the future. When it comes to operating margins, Weaver says that 30% operating margins are the floor, not the ceiling. Weaver says the gains are coming mainly from "tough decisions around headcount, tough decisions about real estate, but we're also bringing a new discipline around spending and your seeing that pay off in our margins."

Weaver also expressed her excitement around the multimillion-dollar investment in public education from Salesforce. Weaver emphasizes the need for this investment to "get the (AI) technology in the hands of students" and hopefully these students will become "future employees."

Video Transcript

BRIAN SOZZI: All right. Yahoo Finance's at Dreamforce still talking about the future of AI and really the future of Salesforce. Let's bring in right now Amy Weaver, Salesforce CFO. Thanks for having us at Dreamforce. We appreciate it.

AMY WEAVER: Brian, so glad you're here. You could just see all of the energy, all of the excitement. We have trailblazers from 90 countries from around the world right now.

BRIAN SOZZI: This place is packed. It's always one of our favorite, favorite events. How does the CFO of Salesforce spend their time at an event like this?

AMY WEAVER: Well, first it's spending time with our customers. You know, our customers are really here for our focus on AI. More than any other year, I think that there's a unified focus. And it's all about artificial intelligence. You know, the keynote today, we highlighted new AI throughout all of our products. And it showcased some incredible companies and what they're doing.

BRIAN SOZZI: How does this AI, we're seeing it-- I've certainly seen it the event talking to people in the product installations, the exhibitions. How does this change the financials of a company like Salesforce?

AMY WEAVER: You know, it has the possibility to change every company and every company is financials. We're really at the beginning of the AI revolution. Right now, we're focused on how we can best serve our customers, how we can educate them, how we can really get them ready for what's coming with AI.

BRIAN SOZZI: We've seen a lot of companies, I think, shock investors on how much business and book of business they're building from AI. How should investors think about the trajectory of your business in 2024?