Salesforce's AI Leap: Agentforce 2.0 Set to Revolutionize Digital Labor and Boost Market Reach
1min read Wedbush Securities recently highlighted the promising prospects of Salesforce's new AI agent platform, Agentforce 2.0. The launch is poised to elevate the demand for Salesforce's cloud software offerings significantly. Reflecting this optimism, Wedbush has maintained its "outperform" rating for Salesforce with a price target of $425.
According to Dan Ives, an analyst at Wedbush, Agentforce 2.0 is designed to enhance automation and reduce costs by building on client data. It aims to create AI agents capable of handling advanced tasks, thus ushering in a new era of digital labor. The platform's cloud capabilities are essential since they enable agents to utilize customer data, making business processes more efficient and automating repetitive tasks, which reportedly consume 41% of work time.
Ives further elaborated that Agentforce 2.0 is expected to solidify Salesforce's leadership in the AI agency market, potentially growing its total addressable market size from $439 billion in 2028 to $749 billion by 2030. With Salesforce CEO Marc Benioff's plans to hire 2,000 salespeople to drive AI software sales, the company is well-positioned to increase its generative AI revenue.
The AI evolution, foreseen to enter its software phase by 2025, presents Salesforce with the opportunity to capture a substantial market share. The monetization phase of AI over the next 12 to 18 months is likely to propel Salesforce's growth, tapping into a digital labor market valued at $7 trillion.
Salesforce's strategic shift towards AI-driven business solutions highlights its commitment to integrating AI across its service offerings. This move aligns with the broader industry trend where AI applications are reshaping traditional business processes. As companies increasingly focus on AI integration to boost productivity and innovation, Salesforce's advanced AI tools position it favourably in this competitive landscape.