Salesforce Commits $1 Billion to Boost AI Development in Singapore

Salesforce pledges to invest $1 bln in Singapore AI development over 5 years By Investing.com

Investing.com-- Salesforce (NYSE:CRM) said on Wednesday that it will invest $1 billion in Singapore over the next five years to boost the country's artificial intelligence development and digital transformation. The enterprise software developer also announced a tie-up with Singapore Airlines Ltd (SGX:SIAL) to provide AI-powered customer service products. SIAL plans to incorporate Salesforce's Agentforce AI across its services. Salesforce's Singapore push will focus largely on the company's flagship Agentforce AI service- under which autonomous AI agents carry out several advanced tasks. Salesforce claimed that this service will help bolster Singapore's workforce with digital labor. The company will also increase its research and development programs in Singapore. Salesforce has relationships with several major Singaporean companies, including SIAL, Grab, and M1.

US tech firm Salesforce to invest $1 billion in Singapore

US cloud software giant Salesforce said Wednesday it planned to invest $1.0 billion in Singapore over the next five years to boost the use of artificial intelligence agents (AI) in the workforce. We also do extremely advanced artificial intelligence development," he added. US cloud software giant Salesforce said Wednesday it planned to invest $1 billion in Singapore over the next five years to boost the use of artificial intelligence agents (AI) in the workforce. The island state has been increasingly turning to technology to solve its workforce problem as it struggles to deal with a declining birthrate and an ageing population. The investment aims to accelerate the adoption in Singapore and the region of Agentforce, which enables businesses to create and manage AI agents designed to independently perform tasks such as sales, customer service and marketing. Unlike chatbots that follow a preset script, AI agents are more advanced as they can think, decide and take action and complete tasks such as booking appointments or processing requests. "We are in an incredible new era of digital labour where every business will be transformed by autonomous agents that augment the work of humans, revolutionising productivity and enabling every company to scale without limits," Salesforce chief executive Marc Benioff said in a statement. "Singapore is at the forefront of this shift, and as the world's largest provider of digital labour through our Agentforce platform, Salesforce is thrilled to expand our work with the business community and our longtime partners in the region to drive innovation, productivity and growth." In an interview with CNBC, Benioff said Salesforce had been in Singapore for the past 25 years and described it as the hub of Southeast Asia. "We're investing another billion dollars in our operations here and we don't just do sales and marketing. We also do extremely advanced artificial intelligence development," he added. "We have dozens of... the very best AI engineers in the world here in our Singapore research centre." Salesforce noted that Singapore "has been dealing with a slowing growth rate of the labour force, contributed by an ageing population and declining birth rates". In a separate joint announcement, Salesforce and Singapore Airlines said the carrier would use Agentforce to "streamline its customer service operations".

Salesforce to Invest $1 billion in Singapore for AI Expansion

The increasing adoption of Agentforce has the potential to drive significant impact across Singapore's industries, startups, and the public sector. American cloud services giant Salesforce on Wednesday announced that it plans to invest $1 billion in Singapore over the next five years. The investment will aid enterprises, startups, and industries nationwide in building a 'digital workforce' through the company's agent-based AI platform Agentforce. "Singapore has been dealing with a slowing growth rate of the labour force, contributed by an aging population and declining birth rates. Agentforce delivers Singapore an opportunity to rapidly expand its labour force in many key service and public sector roles," the company said. Besides, Singapore Airlines (SIA) announced a collaboration with Salesforce to integrate the company's Agentforce and other AI services into its customer case management system. The two companies will also develop more AI solutions in the country's Salesforce AI research hub, which was established in 2019. "This helps to streamline its (SIA) customer service operations, allowing its customer service representatives to focus on providing enhanced and personalised attention in each customer interaction," read the announcement. Agentforce is Salesforce's AI-focused platform that helps businesses create and deploy agents that use language models and tools within the Salesforce ecosystem. In December last year, Salesforce announced Agentforce 2.0, calling it the "digital labour platform for building a limitless workforce". The company also said the platform features enhanced reasoning, and data retrieval capabilities to deliver precise answers and orchestrate actions for complex, multi-step questions. "Customers like Accenture, The Adecco Group, Finnair, Heathrow Airport, IBM, Indeed, Saks Global, and SharkNinja are embracing Agentforce to augment their teams with digital labor," the company said. Last week, the company announced AgentExchange, a marketplace for Agentforce, allowing partners, developers, and the Agentblazer community to build and monetise AI components. AgentExchange includes over 200 partners, such as Google Cloud, Docusign, and Box, providing prebuilt solutions for AI agents.

Salesforce Joins Microsoft, OpenAI, and Other Tech Giants in Singapore with $1 B AI Investment

Salesforce says Agentforce can help Singapore "rapidly expand" its labor force in several public sector roles. Credit: Pexels. On Wednesday, March 12, Salesforce announced plans to invest $1 billion in Singapore over the next five years. The investment comes as Singapore attracts major investments from leading tech giants, including Microsoft, Alphabet, and Amazon. Ranked third globally for AI investment, according to Tortoise, the city-state continues to strengthen its digital economy as big tech increasingly moves to capitalize on attractive Asian government initiatives. Salesforce Invests $1 Billion in Singapore Salesforce said its $1 billion investment would turbocharge its AI offering, Agentforce, and accelerate Singapore's digital transformation. The software company launched its newest Agentforce in February. The program is designed to power "every process, workload, and application with dynamic reasoning, decision making, and action orchestration" through AI agents. Salesforce CEO Marc Benioff told CNBC that Singapore has allowed the company to develop "extremely advanced AI." "We have had a fantastic experience here. We've been here for about 25 years at Salesforce, and we're investing another $1 billion in our operations here," Benioff told the publication at a conference on Wednesday. "We don't just do sales and marketing here. We also do extremely advanced artificial intelligence development," he added. "We have dozens of some of the very best AI engineers in the world here in our Singapore research center." Salesforce says Agentforce can help Singapore "rapidly expand" its labor force in several public sector roles to address the country's aging population. Singapore's Growing AI Hub Singapore is rapidly positioning itself as a global hub for AI, investing heavily in infrastructure, research, and talent development to attract top tech firms and drive innovation. The Southeast Asian country has invested S$1 billion ($767 million) over the next five years as part of its National AI Strategy 2.0, the country's tourism board wrote in the Financial Times . This large-scale investment in AI infrastructure has been matched by leading tech firms, including Amazon , Alphabet, and Microsoft. Beyond Singapore, technology companies have increasingly focused on Asia as a hub to invest heavily in AI and other emerging technologies. Big Tech's Asia Focus Asia's vast population presents a widely untouched digital product and service market. Governments across the region have implemented policies that foster technological advancement. Last week, Malaysia committed $250 million over the next decade to acquire chip design blueprints from Arm Holdings. The country aims to produce its own semiconductors to meet the rising demand for AI and data centers. Economy Minister Rafizi Ramli said the Malaysian government will pay Arm for its intellectual property, including seven advanced chip design blueprints, Reuters reported . The deal also includes training approximately 10,000 engineers in the country, according to Rafizi, who spoke to reporters. Malaysia hopes the deal with Arm will allow domestic producers to scale up, creating 10 local chip companies with yearly revenue of $1.5 to $2 billion each, Rafizi said. In May 2024, Microsoft announced it was launching its first regional data center in Thailand. In September 2024, Google revealed it would invest $1 billion in Thailand to build a data center and cloud region.

Salesforce to invest $1B in Singapore to boost adoption of AI | TechCrunch

Salesforce plans to invest $1 billion in Singapore over the next five years as it seeks to fuel the adoption of its AI agent development platform, Agentforce. Salesforce claimed that Agentforce can help alleviate Singapore's ongoing labor issues and augment the country's workforce and enterprises by creating "digital workforces" that combine humans with autonomous AI agents. The initiative follows a recent $500 million commitment in Saudi Arabia and another $500 million investment in Argentina by the cloud software giant to expand its AI and cloud services, including Agentforce. The company has been investing in Singapore for nearly two decades, and set up its first overseas AI Research hub in the country in 2019. Its customers in the country include Singapore Airlines, Grab, M1, FairPrice Group and Ocean Network Express. The CRM giant separately also said it has signed a deal with Singapore Airlines to integrate Agentforce; Salesforce's AI layer, Einstein, in Service Cloud; and Data Cloud into the airline's customer case management system. The companies also plan to develop AI solutions for airlines at Salesforce's AI Research hub. Salesforce has been doubling down on AI for a while now. The company is reportedly reducing its workforce by over 1,000 employees while hiring about 2,000 people to sell new AI products. Other U.S. tech giants have been investing heavily in Southeast Asia as well. Last May, Amazon Web Services said it would invest a fresh $9 billion over the next five years in Singapore to grow its cloud infrastructure and services. And Microsoft last year said it would invest $2.2 billion in Malaysia and $1.7 billion in Indonesia over the next four years.

Salesforce Pledges $1 Billion To Propel Singapore's AI Industry Through Its Agentforce - Salesforce (NYSE:CRM)

Salesforce Inc. CRM has committed to invest $1 billion in the country's AI sector over the next five years. The investment is aimed at promoting the adoption of Salesforce's AI product, Agentforce. What Happened: Salesforce, on Tuesday, unveiled its plans to inject $1 billion into Singapore's AI industry over the next half-decade. The initiative aims to speed up the country's digital transformation and promote the adoption of Agentforce, Salesforce's leading AI solution. Having operated in Singapore for around 25 years, Salesforce believes this investment will bolster Singapore's workforce in various key service and public sector roles. This comes at a critical moment as the country faces challenges from an aging population and declining birth rates. Salesforce's AI Research hub in Singapore has driven product innovations, including AIOps Agents that enhance Salesforce's site availability and in-house code LLMs that assist customers in optimizing their code for better performance. Their work has led to the publication of over 100 research papers and patents. Salesforce is enhancing its services on Hyperforce in Singapore to offer data residency for Data Cloud, Agentforce, and Unified Marketing Applications (UMA) by next month. This will enable Singapore businesses to leverage Salesforce's Agentforce and data solutions while complying with local data residency regulations. SEE ALSO: Jim Cramer Asks, 'Do We Just Keep Selling Because Everyone Is Selling?' -- Calls It The 'Every Day Lower Prices Walmart White House' Why It Matters: This investment comes on the heels of Salesforce's recent unveiling of Agentforce 2dx at the TrailblazerDX conference. The new product represents a significant advancement from reactive to proactive agentic capabilities in the AI sector. Notably, today Salesforce also announced a collaboration with Singapore Airlines (SIA) to enhance the customer case management system. Goldman Sachs analyst Kash Rangan expressed optimism about Salesforce's execution of its AI product roadmap, setting a price target of $400 for the company's stock. This investment in Singapore's AI sector is likely to further strengthen Salesforce's position in the global AI market. CRM stock surged 9.35% over the past six months to close at $277.05 on Tuesday as per BenzingaPro. READ MORE: TSMC Proposes Joint Venture With Nvidia, AMD And Broadcom To Operate Intel's Factories: Report Image via Shutterstock Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. CRMSalesforce Inc$279.901.03%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum54.18Growth89.35Quality73.03Value7.65Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs

Tech firm Salesforce to invest USD1B in Singapore

SINGAPORE (AFP) - United States (US) cloud software giant Salesforce said yesterday it planned to invest USD1.0 billion in Singapore over the next five years to boost the use of artificial intelligence (AI) agents in the workforce. The island state has been increasingly turning to technology to solve its workforce problem as it struggles to deal with a declining birthrate and an ageing population. The investment aims to accelerate the adoption in Singapore and the region of Agentforce, which enables businesses to create and manage AI agents designed to independently perform tasks such as sales, customer service and marketing. Unlike chatbots that follow a preset script, AI agents are more advanced as they can think, decide and take action and complete tasks such as booking appointments or processing requests. "We are in an incredible new era of digital labour where every business will be transformed by autonomous agents that augment the work of humans, revolutionising productivity and enabling every company to scale without limits," Salesforce chief executive Marc Benioff said in a statement. "Singapore is at the forefront of this shift, and as the world's largest provider of digital labour through our Agentforce platform, Salesforce is thrilled to expand our work with the business community and our longtime partners in the region to drive innovation, productivity and growth." In an interview with CNBC, Benioff said Salesforce had been in Singapore for the past 25 years and described it as the hub of Southeast Asia. "We're investing another billion dollars in our operations here and we don't just do sales and marketing. We also do extremely advanced AI development," he added. "We have dozens of... the very best AI engineers in the world here in our Singapore research centre." Salesforce noted that Singapore "has been dealing with a slowing growth rate of the labour force, contributed by an ageing population and declining birth rates". In a separate joint announcement, Salesforce and Singapore Airlines said the carrier would use Agentforce to "streamline its customer service operations".