On a tear right now, ServiceNow lays out its artificial intelligence plan.
Finance and technology executives are gathering in San Francisco this week for the annual Morgan Stanley Technology, Media, and Telecom Conference.
At the event, executives are swapping stories on how they’re using AI for maximum advantage, short- and long-term.
Take the cloud workflow company ServiceNow.
The Santa Clara, Cal.-based firm is on a heater right now. Company CEO Gina Mastantuono told the conference audience that it’s turning up its ongoing AI investment a notch in a year when ServiceNow will crest $10 billion in revenue. The company has also partnered with tech industry heavyweights Nvidia and OpenAI to expand its artificial intelligence infrastructure.
In comments to technology media platform Diginomica this week, Mastantuono shared the company’s AI strategy, how it’s using AI inside the company, and how the technology impacts its financial outlook.
All About Destination Points
“We get the question about AI a lot and we’ve been building continuous innovation into that platform,” “Mastantuono said. “(But) that is one platform, one data model, and one architecture that holds all of the data that allows us to have enormous quantities of information that really drives productivity efficiencies.”
Getting into AI early is a big reason why ServiceNow feels comfortable in the driver’s seat.
“It’s one of the reasons why I think we’ve been able to be first to market in our AI solutions because we have been innovating and investing behind those areas for years and years,” she said. “We had our first AI SKUs launched in 2018. So, this is an area we’ve been fundamentally driving, and it’s about innovation first, innovation first.”
Pointing to its work with Siemens automating the corporate giant’s human resources area and additional programs with a major fast-food outfit to boost employee engagement, Mastantuono says the time to expand project opportunities with AI is now.
“It’s really across the platform,” she notes. ‘We’re using it internally across the board. We’re actually using it not only in finance and IT—which is obviously a big area where we’re using it—but also in our sales organization, with(the company’s software solution) Sales Assist.”
Using AI as a destination point for sales associates to go where everything about their customers is on their phones is a big priority, too.
“There, they can understand when the last conversation was, what their pipeline is, what the next best activity is – really having an end-to-end solution for sales to help drive productivity,” she adds. “I love that because it’s efficient. And by the way, if they spend less time with the admin group, they spend more time with customers.”
Like a growing number of C-level executives, Mastantuono doesn’t believe AI will displace the workforce.
“I don’t think that 30% of one person’s job is going away immediately,” she said. “It’s specific tasks. So, how does that math work? How many of the tasks they do will be automated?”
“I think companies are going to really have to lean into reskilling some employees because it means they have more time,” she added. “I don’t think that full jobs go away, but how we make them much more productive and really drive reskilling in areas is the value add.”
Brian O’Connell, a former Wall Street bond trader and best-selling author, is a prominent figure in the finance industry. With a substantial background as an ex-Wall Street trader, he has authored two best-selling books: ‘The 401k Millionaire’ and ‘CNBC’s Creating Wealth’, demonstrating his profound knowledge of finance and investing.
Brian is also a finance and business writer for esteemed national platforms and publications, including CNN, TheStreet.com, CBS News, The Wall Street Journal, U.S. News & World Report, Forbes, and Fox News.
