Salesforce Announces $4 Bn Investment In UK To Drive Artificial Intelligence Innovation
Salesforce, the US software company, announced on Thursday that it intends to invest $4 billion in its UK business over the next five years. This investment is driven by the strong demand for digital transformations and artificial intelligence (AI). The company's plan builds upon its previous five-year commitment of $2.5 billion made in 2018. The substantial investment is expected to provide a boost to the UK's tech industry, particularly following Microsoft's recent regulatory setback in its attempt to acquire Activision Blizzard.
British Prime Minister Rishi Sunak hailed Salesforce's decision as a positive endorsement of the country's economy. Sunak, during his visit to Washington, revealed plans to host a global summit on AI safety in the UK later this year, aligning with the global efforts to establish regulations for the responsible use of AI. Salesforce expressed its commitment to collaborating with the government to drive digital transformation in the new era of AI.
Salesforce UKI boss Zahra Bahrololoumi emphasised the importance of a regulatory framework that promotes innovation while ensuring the safe and responsible utilisation of AI. The company aims to bring secure and trusted generative AI capabilities to businesses in the UK. Salesforce had previously cited uncertainties in the US economy and weaker demand from financial services and tech companies as factors contributing to its underwhelming quarterly results in June.
Overall, Salesforce's substantial investment in its UK business is expected to fuel further advancements in digital transformation and AI adoption, contributing to the growth and innovation of the UK's technology sector.
