Salesforce to invest $4 billion in UK on AI innovation

Salesforce will invest $4 billion in its UK business in the next five years, the U.S. software company said on Thursday, thanks to strong demand for digital transformations and artificial intelligence.

The company said the plan builds on a previous five-year injection of $2.5 billion it set out in 2018.

The new investment will be seen as a boost to the country’s tech industry coming weeks after Microsoft’s president Brad Smith criticised a regulatory decision to block its takeover of Activision Blizzard, saying it had “shaken confidence” in Britain.

“Salesforce’s major investment in its UK business over the next five years is a ringing endorsement of our economy,” British Prime Minister Rishi Sunak said in the statement released by the NYSE-listed company.

During his Washington visit earlier this month, Sunak set out plans to host a global summit on AI safety in Britain later this year as governments around the world scramble to draw up rules on the use of the revolutionary technology.

Salesforce said it would work with the government to drive the next wave of digital transformation “in this new AI era.”

“A clear pro-innovation regulatory framework that compels safe and responsible use of AI is vital, and Salesforce is fully focused on bringing secure, trusted, enterprise ready generative AI to UK businesses,” Salesforce UKI boss Zahra Bahrololoumi said.

Earlier in June Salesforce blamed an uncertain U.S. economy and weaker demand from financial services and tech companies for its disappointing quarterly results.

Source : Reuters