Salesforce Stock Surges 10% as CEO Benioff Touts AI Agents and Digital Labor
Salesforce, the cloud-based software giant, saw its stock price soar 10% after hours on Wednesday following the release of its third-quarter earnings report, which exceeded revenue expectations. During the subsequent earnings call, CEO Marc Benioff highlighted the growing significance of digital labor and AI agents in the company’s future strategy.
Benioff introduced Agentforce, Salesforce’s new service for building AI-powered agents, which became generally available in late October. The platform has already secured 200 deals in its first week, signaling strong market interest. These AI agents are designed to perform tasks traditionally handled by human workers, representing a significant leap forward in generative AI technology.
“We’re seeing a rapid adoption of digital labor solutions among our clients,” Benioff stated, citing notable companies such as FedEx, Adecco, Accenture, Ace Hardware, IBM, and RBC Wealth Management as early adopters. He projected increased demand for AI agents, positioning Salesforce as a leading provider in this emerging field.
Looking ahead, Benioff predicted the emergence of a “robotic layer” where AI agents would evolve into robotic collaborators, working alongside humans. This vision aligns with Salesforce’s broader strategy to capitalize on the growing AI market, despite Benioff’s previous skepticism about the limitations of large language models.
The focus on AI agents places Salesforce in direct competition with other tech giants investing heavily in similar technologies, including Microsoft’s Copilot, Meta, Google’s Gemini, and upcoming projects from OpenAI.
Benioff emphasized that the impact of digital labor on productivity is already being felt, decoupling it from traditional workforce growth. “This isn’t a distant future we’re talking about,” he asserted. “It’s happening now, and it’s reshaping how businesses operate and grow.”
As Salesforce continues to invest in AI and digital labor solutions, the company’s strong quarterly performance and Benioff’s forward-looking statements have clearly resonated with investors, as reflected in the significant after-hours stock price increase.