Dive Brief:
- Zoom AI Companion, formerly known as Zoom IQ, is now available on paid Zoom accounts, the company said Tuesday. The revamped solution will connect with products across the company's suite to offer users generative AI insights and capabilities.
- The assistant lets users watch meeting recordings and highlights more quickly on its flagship platform. The assistant can also produce summaries and action items, and offer latecomers AI-generated information on what they missed.
- Additional features to the assistant will be added on Zoom’s Meetings, Team Chat, Phone, Email and Whiteboard offerings in the coming months, the company said.
Dive Insight:
Zoom is leaning harder into AI as the boom effect of its early pandemic-era adoption wears off.
Enterprise revenue grew 10% year-over-year, for the period ending July 31, the company’s most recent financial snapshot shows. But it’s a sizeable decline from the 27% hike in the same quarter last year.
AI as a built-in feature is part of Zoom's strategy to bolster customer growth, CEO Eric Yuan said during the Aug. 21 earnings call. The company is betting AI features will add value for customers and convince them to move to Zoom's entire platform.
Zoom is also grappling with privacy concerns as it pushes further into AI. The company revamped its terms of service in August, following backlash over contract language that suggested data could be used for AI training.
The new terms allow Zoom to continue accessing customer content for legal, security and safety purposes, but it will not use it to train third-party or internal AI. Yuan referenced the update during the earnings call, and said the move ensured customers can use the company's AI features with confidence their data will be protected.
Zoom also announced its sales-focused conversational tool will be rebranded as Zoom Revenue Accelerator. The tool currently provides meeting summaries, sentiment analysis and an email composing feature to help complete sales meeting follow-ups.
Further down the product's roadmap, the company said it will also equip its AI tool for sales teams with a virtual coach capability, and an alert system for stalled deals.
