Salesforce, Inc. (CRM) Earnings Call Transcript & Summary

Well, we're going to go to the keynote. Thank you guys so much. It's time for the keynote room with Marc Benioff and the Dreamforce main keynote, a new day for Trailblazers. [Presentation]

And now our CEO and Chair, Mr. Marc Benioff.

Good morning, everybody. Is this microphone on? Good morning, everybody. We are so thrilled to have everybody here. What a great, great group this is. Wow, can you look around this room, it's amazing what's happening here. Totally incredible. We are going to have an amazing day. We're going to have an amazing conference. We have been on the road exhaustively for the last 2 months. I've been in Europe myself for the last 2 months. You're going to hear some stories about that. Then we got back here. United States, we did some incredible focus groups with all of you getting ready for this amazing Dreamforce keynote. And let me just tell you this. We have never been more excited about a Dreamforce in our history. This is going to be absolutely incredible. You're going to see some truly amazing technology. You're going to meet some incredible people, and we hope to open a door for all of you. Now for the last 2 months, I've been in Europe. It's been amazing. I've met with hundreds of you. You've inspired me, you've energized me. You've really shown me what the future was. And it's been an incredible experience. But I'll tell you something amazing that occurred to me while I was in Europe. I had this awesome meeting with one of our top customers in Lausanne, Switzerland. And it was like exhausting long meeting. It was like 3 hours. And we were getting down to the end of the meeting, and I was like, I really want to show you what we're going to do at Dreamforce. It's going to be amazing. And so finally, I had our CEO of Switzerland with us. He's here today. I said, all right, let's show them this amazing new technology, and we showed them the beginning of something we're going to show you today called AIforce. And they started using this platform. We've been using this kind of build and run our company now for several months. It's been transformational for us. In this case, we were using the version built on Claude, we call it Cowork. And this Claudeforce product, we're going to about to show you for the first time, the customer at the end of it said, this is really something like I see several things. One, we had built a full new interface across their entire enterprise and did a complete AI transformation in real time with the customer. That was awesome. But number 2 was this. The customer said, wow, what I see happening right now is that you are really unleashing for me, trapped value in my system that I knew was there, locked in the metadata, locked in my systems and for the first time, for the first time, for the first time they saw that trap value coming into real value for their company. That's when we realized we could say, hey, I meet this #1 CRM Salesforce and unlock this trapped value from anywhere. Now I want to just tell you, we are here to do many things with you. And one of the things you're going to see is that when we get into this incredible platform for our Trailblazers. Do we have any Trailblazers in the audience today? We've got a couple of them here. For our Trailblazers, this is the most empowering piece of technology we've seen. It really becomes a partner for you. It becomes a partner in helping you to execute the next generation of your enterprise. And these demonstrations that you're going to see are unlike anything we have ever demonstrated at Dreamforce before. Now as you know, we are here to excite you. We are here to motivate you. We are here to inspire you but most of we are here to do what? Thank you. Thanks to each and every one of you for what you do for us every single day. We are so grateful to you for what you do for us. We know that you have a choice in vendors, and we know that you have a choice in where you have to put your time and to come here to this show and spend time with us, it's very meaningful to us. So thanks for being a great customer. Thank you for coming to San Francisco, and thank you for coming to this incredible Dreamforce. Now 20 years of these Trailblazers. It's been 20 years of these Trailblazers, 23 million Trailblazers all over the world, 90 countries, 700 community groups.

I saw Steve Mo got an amazing blue blazer. Where are you? Got your golden blazer, standup, Steve. Here's Steve. Great job. Yes. How long have you been with Trailblazer now?

I celebrated my Salesforce birthday, the day that my first user ID was created in August of 2003.

Steve, we could not be more proud of you and how you have lit up the whole community and you just guide us everywhere all over the world. Thank you for being such a great partner of Salesforce. Great job, Steve. Incredible. And Steve represents each of those 23 million Trailblazers all over the world. It's going to be an amazing show with all these Trailblazers. And as I said, I think the technology that you're going to see is going to really take all you guys to another level. But listen, listen. This is the biggest and most important dream for us ever. And we've got all the greatest players here. We've got all the most incredible people from all over the world, the Dario is going to be in the keynote in a little bit. We've got Jensen is going to be here. We've got Sam speaking here later, Tony and Rob, we have all of our friends here. Isn't that amazing? And one more thing. We have 1,600 sessions for you. One really critical point about these sessions, we expect you to go to each and every one of them. We put a lot of work into them, 1,600. Let's do that. Okay. Tomorrow night, how was [indiscernible]? Was that awesome? Yes. Well, we also have Usher coming as well. That's going to be awesome. And here's one more thing. We're going to be giving another incredible $10 million to the UCSF Children's Hospitals tomorrow night. You've now raised a total of $130 million through that concert every year for this hospital, amazing what you were doing. You already know, we so strongly believe that business is the greatest platform for change. You can see what we've done about $1 billion of grant since we started the company, 11 million hours of volunteerism. 65,000 nonprofits and NGOs on under service for free, and this is where I get to say this. If you are with a nonprofit or NGO and you are here at the conference, can you stand up and be recognized, please. Amazing. And this is the opportunity for our commercial customers to realize that nonprofits and NGOs do not have as many resources as our commercial customers. Please support them and help them. And not only are we giving back at this scale, but one more thing. We are also deeply committed to San Francisco. Now with $156 million given for our public schools, $130 million to our hospitals, we have done 1.7 million hours of volunteerism here in San Francisco and Oakland, and we support 4,000 local NGOs. We've even given $13 million to our local police force to keep all of you safe. But we believe so strongly through this kind of $300 million in all-time giving that we have to give back to the communities that have given so much to us. One more thing. We're also deeply committed to America as well. We now run 15 of the 15 cabinet agencies. 50 out of 50 states also now on Salesforce, all built on our core values, our core values of trust, the trust we have with all those Trailblazers. Their success is our highest priority. The innovation you'll see here at the show that we've been delivering day in and day out for 27 years. The equality of every Trailblazer, we so strongly believe in that. And the sustainability of our world, creating a net zero company. And that is why we've been influenced now as one of the most ethical companies in the world by [indiscernible] 7 team times, probably one of the most meaningful recognitions that we have received. Thank you so much, and it has delivered the largest and most trusted enterprise software company in the world. An incredible slide as we slide into these very high ranks of these amazing companies. I guess you could say some people said, well, is Salesforce slowing? And I said, well, actually, I don't know if you noticed, we spent 3 years in the $30 billion in revenue. We spent just 2 years now in the $40 billion in revenue. And next year, we're entering into the $50 billion in revenue, looks pretty good to me, actually, the chart, not bad. Not a horrible chart. Thank you. And 27 years of amazing innovation inspired by all of you, especially our Trailblazers, incredible what you have been doing for us. And that innovation, it's organic, it's inorganic. And let me also say this. It's also these incredible companies in San Francisco that we've kind of become part of our Ohana, and we want to welcome starting today, Fin, now part of Agentforce. The highest performing customer agent in the world, amazing company. Anybody here from Fin, stand up if you were Fin. What you be recognized we have our Fin team right over here. Congratulations, and welcome to Dreamforce. Great to see you and fantastic. Okay. Look, it's been 10 years of pioneering AI here in the enterprise. You have all going through this with us. It's been an amazing journey. There's no question about it. And then we've been hearing all this kind of crazy nonsense about the SaaSpocalypse, especially over the last 6 months. It doesn't have been wild. But I think that we realized that SaaSpocalypse, but it's not about the end of software, but it may be about the end of software that makes humans do all the work. And I think you're going to see that especially at the show. It's been incredible to watch the success of Salesforce this year, the growth, the capability of our customers. In our second quarter, we just delivered $46.4 billion in revenue guidance, delivered another $1 billion in free cash flow, 14% CRPO growth. It was awesome. Our lowest customer attrition ever, our longest customer contracts ever. And it's all driven by the deep commitment that we have at Salesforce to do this, to help you connect with your customers in a whole new way. How do we do that? And now as you start to begin to see the technology that we're about to reveal, there's this fundamental question. And the question is this, how are we unlocking this trapped value across every single app? Now at Salesforce, we are starting to do this. It's been amazing. We already have 7,000 users on Claudeforce. So while you're at the show, take our Salesforce employees aside and say, show me how you're running Salesforce. You'll see the Slackbots that we have running and the coworkers that we have running in Lightning and that we generated $500 million last quarter in pipeline, incredible with our new Hunter and Piper agents, but we resolved 5 million service conversations with Casey on helpsalesforce.com. We're being the change that we want to see with you. We believe that every company can become an Agentic Enterprise, and we're going to show you the best way to do it by doing it ourselves. It's been awesome for us. And as I've gone around the world, I see it in all of you. I see it in your eyes, your inspirations, your ideas. I see these companies changing and transforming in ways I could have never imagined. Now AI has opened a door that's never been opened before. How many of you in San Francisco while you've been here have already jumped into a Waymo? Anybody here jump in or Waymo? Not too many. Well, you might want to try it. It's kind of an amazing experience. It's an autonomous vehicle driven by AI. And one of the things about it is it's kind of a metaphor in many ways. I told you about my trip to Europe, well, when I was in Europe for 2 months, I didn't see a single autonomous vehicle. That was kind of a metaphor to me. Well, we might be living at it here or if you go to Shanghai, maybe it's AI on steroids right now. But when I went to Europe, I didn't see that same kind of transformation, that same eye kind of same AI global, I would say, unbalanced capability, where some countries have more AI than others. This is a very real thing, but it's also true in our customers, too. When I go to visit all of you, and I just spent my time with hundreds of you, probably what I love doing more than anything else. But what I saw was a lot of unevenness what comes to AI. So that idea is that when we start to look at what AI can do, yes, the door is opening, but not everyone has gone through it yet. In many cases, some of our customers are kind of stuck. They're kind of stuck in the old world. Maybe they're even using ChatGPT or Claude Cowork during the day at home. But when they get to their businesses and they get to their enterprises, they still don't see that enterprise transformation. Do you know what I'm saying? And I think we have to do more to help you accelerate that transformation. But one of the key parts about that is this, models alone cannot run the enterprise. Models alone are not going to show us what's going to -- what's possible. Models also are very probabilistic. You know what that means, they're probabilistic, like they kind of know what's going on but they're not grounded in a single set of truth like your traditional Salesforce apps. I have a friend back home, and they've built this amazing app on Claude Cowork. And every time he shows some of the app he goes, well, this is this amazing app. But this number, I know it's wrong every time. I know it's not exactly the right number. I said, that's because it's not grounded in your single source of truth. It's not grounded in your core data set. And then how can you do that? The idea really is how can you bring that probabilistic world, the AI world, the deterministic world. The deterministic world is where all that corporate data is, where the single source of truth is. That is the question that has been on our mind. And that is the bridge that we want to cross because when we look at enterprise intelligence, yes, we love these probabilistic AI systems. But how do we deliver the governance and the security and the workflows and the apps and the rules and the context to all of them? How do you bring all the power of the corporate system into the AI? And then one more thing. How do you then layer in these 4 critical layers? One, how do you deliver the data because we all know you've got to get your data right to get your AI right. Two, how do you take the power of the apps, which have all the intelligence of the business and all of the capability and the metadata and the semantics that deepen the analytics layers, the semantic layer. How do we unleash a digital workforce with agents like we've been talking about here for the last several years? And how can we build a radically different interface on all of those things? These 4 layers data, apps and semantics, agents and interface, that is what we want to transform right now. And to make that happen to really bring enterprise intelligence to run on our core system, we have to unify the probabilistic intelligence with that deterministic intelligence. And the interface in agents remain probabilistic. And that is great as long as they are grounded inside the deterministic data, the source of truth of data, the data layer and the absence of semantics as well where you have spent so much time educating those applications on who your businesses are and how they run. So at this show, what we will do and what we're going to do over the next 30 minutes is show you those 4 layers in an incredible new way. Data 360, a layer that helps you to integrate, to federate and harmonize all of your data. And that means connect everything in your enterprise together to smooth it out, okay, and then let it drive the AI. And two, to unleash through a new headless version of our applications, the fundamental application and semantic intelligence to drive that intelligence and then let the agents and let the interface do what it's going to do. When we get to the interface layer, I promise you this. When we get to the interface layer, I promise you this, you will see an interface unlike anything you've ever seen before. It will transform your enterprise. And that is what is exciting. Now people been saying, as I've said that to them, how is that possible? How is it possible that so much could change so quickly at the interface layer? Well, for those of you who know how Salesforce operates, we operate through a metadata platform. When you're working in Lightning and you're running Lighting applications and where you're building on Salesforce, you're writing in metadata, you're writing in the objects and the interfaces and the rules. You're writing in the fields and the relationships, you're writing in the permissions and the business logic and security and analytics you're writing into the metadata and then it gets decomposed into the database. It gets pushed down into our database. It's not fixed. I loved it when we announced [indiscernible] and everybody thought we somehow had cut the head off of our apps. There was never any head on the apps. It was always in the metadata layer. It's just hard to explain that to folks who are not Salesforce folks. So it's down in the metadata layer and then it's been recomposed into Safari or Chrome. It's been recomposed into the browsers or into iOS. And now it's going to get recomposed into these AI interfaces. It gets recomposed into Cowork. It gets recomposed into Slack. It gets recomposed into Lightning. So that is what becomes really dramatic. It's an interface revolution. But we've seen a lot of interface revolutions. We went from DOS to Gus. And we went from GUS to web, and we went from WAM to mobile. And today, you're going to see, and I bet a lot of you have not yet seen this, you're going to see AI interfaces that are dynamic and intelligent, that are composable and alive and that can work with you in the fundamental administration of the applications, can work with you in building the applications and work with you in operating the applications because the interface itself is alive. Some people say the interface is living. It's really interesting. I'm going to let you determine what you think about that interface. Now to make all this happen, the first thing we had to do is write a layer that would empower all that. We knew we wanted the dynamism. We all know we wanted the intelligence. We knew that we wanted to keep go down into that metadata and pull it up. We knew that it had to be secure and governed. And one more thing. We knew that it had to have zero data retention. Now 3 years ago, we were here, we talked about zero data retention. That means this. When you're working in Salesforce apps and when you're working on our platforms, your data is your data. It does not go in the models. We've audited it. We've tested it. We've tried it, regardless of what you've heard on media or from other vendors, let me assure you that Salesforce products are built with zero data retention, tested over and over again by our security teams. Your data is your data. You're not training any other model when you're using our products. This is extremely important, having ZTR built in. And then when you put it all together, when you put all those things together, you get AIforce. You get those capabilities and you get this live interface that untraps the value. And then we're going to deliver for you AIforce in many forms, if you're a Cowork user, you're going to get Claudeforce. If you are a Slack user, you're going to get Slackforce. If you're a Lightning user, you're going to get the new Coworker. And there will be many others too, and we will also deliver an SDK, so you can build your own AIforce applications as well. This is really the most exciting thing I have ever seen for Salesforce. Because we have been talking about the data layer for a long time. We have been talking about the applications and semantic layer for a long time. And we have been talking about now the agentic layer for 3 years. And now for the first time, we're talking about this, a live interface on Salesforce, unlocking this trapped value, finding the patterns across all your data, getting answers in seconds, not days and now anyone can get that value from Salesforce. That is the power of AIforce. And while you might not have seen this from other vendors yet. I assure you, you are about to see something that I'm sure that will get repeated over and over again throughout our whole industry. Just like the Trailblazers have sat in this conference now for almost 3 decades, I'm confident you will see this pattern repeat everywhere else. We saw Steve Mo. We saw how incredible our Trailblazers are. They are going to be even more incredible with AIforce. They are going to be even more powerful to administer, develop and operate these systems across all of these layers. It is really awesome. And you're going to see the demo and pay attention, it's going to be really incredible. Now we've talked about the vision of lighting up the data, making sure your data is ready for you. And two, making sure all of our apps, which were always built this way, always built with metadata first so that this moment would be a moment they could take advantage of are also ready for you; and three, the agentic layer as well so that it can really deliver that value. Now I know many of you are already starting to use these incredible agents. How many of you have been on salesforce.com or informatica.com or already using Piper, by the way, this qualification agent, quite a few hands. It is amazing you're talking to Piper, we're going to demo it in a second. It's helping to qualify your prospects and your customers. Hunter went out and generated $500 million of pipeline for me last quarter it was kind of amazing what Hunter did. Casey answered 5 million customer service issues for me so far since I launched about 18 months ago. And Paige is doing our ITSM work and HR capabilities. And Marshall is doing this incredible work as well in the supply chain. And now we have Fin, which is the #1 customer service agent. We've been using that on help.salesforce.com already. It's incredible, Fin is. And we got that running, I think, in about 12 days at Salesforce. It's an incredible capability that you can go super fast with. That idea that you have those 3 layers, data, absent semantics and agents and then add the interface on top. Adding the interface on top means that everything is going to change. So one of the things I noticed when I was with all the customers for the last 2 months, and it was pretty incredible being there with everybody. But the applications kind of looked mostly the same that they've looked like for the last few years. And I would say to the CEOs and CIOs and CEOs of these companies, do you feel like you've gone through an enterprise transformation? Well, we've got this pilot going or we tried this or we did that? I think when you put this interface on, everyone will see that their systems have now changed. Incredible. Okay. So let's take a look at Quadforce. This is Salesforce and Claude. It's the #1 AI meets the #1 CRM. It is that live interface built around you, if you are a Cowork user. You are going to love this platform. We use it at Salesforce. We use it aggressively. We turned it over to our operating unit leaders several months ago. They have been running their businesses. When we were doing the focus group for this room, I was sitting next to Miguel Milano, our new Chief Operating Officer -- Miguel, are you in the room? Well, standup. Here's Miguel Milano, our new COO. Congratulations, Miguel. I was sitting next to Miguel and he was using Claudeforce to run Salesforce. It was incredible. And he was also using Slack at the same time. It was hard to believe. Now for those of you who use Slack, how many Slack users do we have here, raise your heads? Quite a few. Oh, I'm surprised. Well, so Slack is where AI works. It's pretty awesome. I mean we bought this company 6 years ago. We have invested a ton in this company transformed it. It's done amazing is to become our very fastest-growing product. So many AI companies here in the Valley like within a mile or 2 of this building, all run on Slack. It's awesome. But one of the things to about Slack now that you have is Slackforce. So that same user interface that is running from AIforce in Claudeforce is also now running in Slack and you're going to see that at the show. And for those of you who are coders or who are using coding agents in your businesses, did you know now you can code inside Slack? Coding has traditionally been a single player sort board. It's a single player sport, but now it becomes a multiplayer sport, and you can write review and ship code together with agents and all of Salesforce is available inside Slack with Slack CRM. So you can use Slack to run Salesforce. And many of our customers are already using Slackbot millions every single week where they're reading across their DMs, they're reading across their channels, they're reading across the whole data set and letting Slackbot provide the AI for the enterprise. That is why Slack has become Salesforce's fastest-growing product. Okay. And there's one more piece of this. For those of you who are on Lightning, anybody here use Lightning by any chance? Okay, we have a few Lightning users out there. Now Agentforce Coworker is running inside Lightning as well. So now you can have the same live interface in Lighting. So if you use Cowork, you've got it. If you have Slack, you've got it, if you've got Lighting, you've got it. And I bet by the time we get back here a year from now, we'll have dozens of live interfaces running on Salesforce. We have transformed our architecture. Look at this. You can see that core data layer with Informatica and MuleSoft. You can see it with Tableau and how it's working to deliver that core system. And then you can see the application layer and all the different applications are now headless and providing that API and that capability. And the agentic layer as well and all the agents that you need to run your business or build your own agents with Agentforce also. All of these incredible pieces helping to create and empower those trailblazers that are so important to us. We want to make sure that Trailblazers are successful. They've built 12.8 million custom enterprise apps. They've done countless Apex calls and [indiscernible] calls. They've built these incredible systems. It's been awesome what the Trailblazers have done and this is going to elevate them to an incredible new place. And we're delivering new versions of Salesforce, including our new AIforce Max Edition, which bundles all of this together so you can have one core product that you can acquire that delivers all of this functionality to you. One product, AIforce Max with all of our functionality built together. So there is no concern. You not have everything you need to be totally successful right now. So please welcome to give this incredible demonstration, our new President of Applications and Marketing, Patrick Stokes.

All right. All right. Thank you, Marc. Good morning, Dreamforce. Facing back with all of you, I love doing this every year. I hope I get to keep doing it. We'll see here in a moment. So listen, 6 months ago, we held an event. It was actually right across the street to launch Slackbot. And at that event, our Co-Founder, Parker Harris, you all know Parker, he's sitting right over here. He looks right into the camera and he said something a little weird. You want to know what he said? I've got the clip. Let's actually just watch the clip. [Presentation]

Crazy thing to hear, right? Crazy. If you're any other software company, that would be a terrifying thing to say because other software companies, they think their product is the UI. But that's not what we think at Salesforce. That Salesforce, our product is the trust that all of you, our customers put in us to hold your data, to hold your workflows, your business processes, your permissions, your security rules, that is the Salesforce product. And we asked ourselves, what would it look like if we could plug that product in to a new interface, to an entirely new interface agentic interface. And that's exactly what we set out to do with our friends from Anthropic. Now here, I am inside of Claude Cowork. And I'm about to show you my interface. Everything you are about to see is something that I ask Claude to do for me. And before I show you, I'm going to give you one last warning, which is, despite what Parker just said, you are going to see just a tiny a little bit of Lightning in here. Bear with me, okay? Here we go. Here are your deal signals for today. Okay. body, this gets in. The quarter sits $8.2 million short of your $285 million target with 3 weeks left to run. NorthStar needs your attention, $4.8 million, 10 days past close and a block security review. Those are your signals pal, your command center has the answers. Trailblazers. Welcome to Dreamforce, digital Parker out. All right. Thank you, Parker. I appreciate the insights. So look, this is my Salesforce. Like I said, everything that you see here is something that I specifically asked for and Claude helped me bring it together. I can see if I expand this, I can see my pipeline coming in from around the world, everywhere I've got a new opportunity opening up. I can see all of my service data coming in where my cases are landing around the world, so I can see where my hot cuts are. I can even see all of my marketing data. People interacting with all of my different websites, interacting with Piper on my website, signing up for new campaigns, interacting with campaigns all in this live interface. But this is more than just an interface to look at data. Remember, we're combining this with AI. In this case, Parker, who's got a lot of insights, right? And Parker reminded me right when we started there, then I have a problem with NorthStar communities. And he said, you should probably take a peek at that. Now I know NorthStar happens to be based in San Francisco. So I can click into San Francisco here to drill into the pipeline that I have. I've got 2 accounts that have opportunities. I'm going to click into my NorthStar account here. And there it is, there is that security review that is blocked. And it's actually kind of bad. We've got $4.8 million in open pipeline that is not going to close unless we get this thing moving. Now I wanted a way to let my team know that this is unacceptable. And I did that in the most Patrick way that I could think of, which is I ask Claude to code in a sad trombone. And that actually sends a real activity over to Salesforce. So that logs in this account record, so my team knows that I'm pissed off. If I wasn't pissed off, I could do something that I've always wanted to do, which is blow an airhorn on the Salesforce stage. I can do this as many times as I want. Nobody can stop me. Okay. But to get real for a second, what do I actually want to do? What I want to do is I want to send a Slack message over to my team. I need to get them rock and roll in on this opportunity. So we're going to click into the Slack interface, and I said, hey, give me a way to have Claude generate, but let me be able to rewrite the message if I want to, so I can do that right here. We can say, hey, Dreamforce, it helps if you spell it right, although it actually doesn't really matter, God, it's hard typing on stage. There we go. And then all I have to do is post this over to Slack. And if I get over there fast enough, there it was, you saw it just pop up. 1046, there is our message right over to Slack getting our team rocking and rolling. Okay. Now I bet you're probably wondering how this all actually works. And let me tell you. So it all starts right over here if we go into, excuse me, plug-ins you'll see we've got this brand new logo Salesforce for Claude. Now this plug-in solves all of the hard problems. Who's heard of MCP servers here? Who knows what MCP servers are and how to use them? A lot of hands are going to go down, right? They're hard. This is a new technology. Who knows how to enable zero data retention, right? Not many people who's written skills for Claude, probably a few more of you right? This is hard stuff. And we sat down with our friends at Anthropic and said, what if we could put all that together into one package, one plug in that if you have Claude Enterprise, you can just go in, turn it on and pick the users that you want to give access to. So that is exactly what we did. But what about that UI? How did I create that UI? Some PM didn't create that for me somewhere. That is a UI that I personally created for myself by just asking, and I'll show you that conversation. Here is the complete conversation. You can see where I started. You get up and running on these interfaces. I'm not kidding in like 6 to 8 minutes. And then you have a few days worth of back and forth as you iterate and you add all of the silly features like I did with that trombones, and that awesome 3D Parker that you saw. All of that, look at literally create avatar, Parker Harrison is Lightning suit. I to give it some things. But that is how we do it. Now the last question I want to answer for you is how on earth do you get this thing, right? Well, we can show you. Now Marc mentioned the pricing and packaging earlier, but this is Dreamforce, baby. We don't want you to worry about pricing and packaging. What we want you to do is go get your hands on this thing. So for the time being, everything that you just saw is in open beta. Any one of you can go, you jump over to the AppExchange. I'll show it to you right here, right, again, inside of Claude, look for this plug-in within the op exchange, fill out the form, give us your org ID and we will turn you on today. If you are not here with us at Dreamforce, of course, we've got a Trailhead. I blew right through the applause, but that's okay. You'll do it afterwards. And if you are here with us at Dreamforce, I beg you get over to Moscone West, it's across the street, we have AI learning labs, you will get in there. There is an ocean of laptops with Claudeforce setup, you can learn how to build your own command center and walk out of here with your org turned on. So that is AIforce.

All right. Thank you. So now we have something incredibly special. And to do that, I'm going to reintroduce Mr. Marc Benioff. Marc?

All right. Great job. How about a hand for Patrick? Who's excited about that interface? That is just the beginning of the interface that you're going to see. I think AIforce remains the most exciting thing we have ever done at Salesforce and to see this first version of it running on Cowork and Claude, which is amazing. I don't know if you saw the cover of Time Magazine today, but Cowork is also on the cover of Time Magazine. And here we have the CEO of Anthropic right here, Dario, hello, how are you? Great to have you. Fantastic. Great job, Dario. You're doing an amazing job leading the AI industry, guiding it all right from our Slack headquarters building. We watch you every day -- it's all good karma, isn't it? And we're watching you doing an incredible job. You've become the #1 AI in the world, 3x larger than the nearest provider. It's been amazing to be partnered with you. It's all been very karmic and kismet and good. And one of the things I have to ask you before we get into the interview, I want to talk to you about AIforce, I want to talk to you about Claudeforce. I want to talk to you about how you're running your own business. But wow, you -- I mean, everything from your first essay that you wrote about Loving Grace to the essay we did on pacing has been incredible. But give us your state of the AI industry and pacing and where your mind is right now?

Yes. I think it's maybe easiest to explain it by an analogy. So let's say you're running a car company and another car company, not yours, they have some kind of safety incident, right? Something goes wrong with the brakes, something with the manufacturing. Now you believe you have the best safety record in the industry. What do you do? How do you approach it? Obviously, it's very tempting to attack your competitor and say, these guys are on, say, for safe. But I think the more responsible way to respond to it is to say, hey, first of all, let's look at our own record, right? We may not have had this big high-profile incident, but I'm sure we're not perfect. Let's look at everything and we can always be better. Let's make our practices better. Let's recommit transparency, let's invest more in safety then let's organize the rest of the industry and say, what can we do to set standards for everyone? What can we do to make everyone's standards better? And then finally, there should be an international component to it. And that's essentially the 3-step plan that I laid out in the SA, the first of which we committed to, the others of which we're going to have a dialogue with the rest of the industry about. And I think that's the way to lead the industry forward to set an example to say that everyone can always be better.

Let me ask you a question, Dario. It's been amazing what you have been able to accomplish, like I said. But there are a lot of surprises also that you have gone through. So just tell us what has been your biggest surprise over the last decade? And you've obviously been heads down in AI now for 10 years, really in earnest. What's your biggest shock about where we are right now?

It's been the pace of the progress, not just of the technology but of the economic side of it. So we -- I formulated the scaling laws along with some of my cofounders, which tell you that AI models get smarter and smarter, the more compute grow into them. And so we had a prediction of just how capable these models would be. But I think what we didn't appreciate is that it would lead to these companies growing so fast to all these incredible products that we're working together on and you've been talking about today and how quickly they would become central to everything that's going on in the world, right? I just watched the talks before that, where you guys talked about MCP and Cowork and Claude skills, and these are all new things that people are just beginning to use, but they're being adopted so quickly because the economic value is so great. So I've just been surprised at such a pace as possible in the business world.

Well, I'll tell you at Salesforce, we are huge Cowork fans. And also when I was in Europe, I met with so many customers who are Cowork fans, it's incredible what you've done with the product. I am noticing over your shoulder here, you've got a few Salesforce alumni behind you, helping you to run your company, which...

You train them well, Marc. You've trained them well.

Trying to do my best to help the whole industry. I measure myself by how many CEOs, COOs and CROs are in other companies that all came from Salesforce.

You do a fantastic job of that. No, truly. Truly, you do.

Thank you. But what I want to say is this. I want to say, yes, we have to keep our eye on the pace of AI. It's been amazing what's happened over 10 years. No one could have written the story. Now these interfaces are truly amazing. The demo we just saw is remarkable. I think every customer here wants to have that same interface on all of their systems. Everybody wants to unlock the trapped value. What is your kind of recommendation for everyone in this room and the virtual room? Obviously, you can see we have 10,000 people all over this room, but 10 million joining us online. What actions do you want us to take?

Yes. So I would just say, when I look at the technology versus how much it has diffused even if we freeze the technology in place, which we're not doing, pacing the frontier is not, not doing that at all, the technology will keep getting better. But it just suppose we freezed it in place. Even if that were the case, we're making use of maybe only 5% or 10% of what the possible value of the technology is. So I'll give you just an example that relates to what we're doing together and to the CRO, you just pointed at, which is that Paul, every day now, he wakes up and if he wants to look at our head go-to-market, prospects, he still uses Salesforce but he uses Salesforce with Claude. He talks to Claude using Salesforce's data about what are the are 10 biggest deals we're doing this week. What are the 10 deals we're most likely to lose? What are the themes in those deals? How do we win those deals? Just making use of all the information fluently with Quad. And it's really incredible and the fraction of people who have seen this and seeing that this is possible is still small compared to those who could gain utility from it. And so there is still so much diffusion left to do.

Well, we are really excited to wake everybody up at the show to show people what the possibilities are for the future, how we're going to show them that data layer, which, as you know, I think, is really critical to having that grounding of the data. We've talked about that so many times. The application of semantic layer giving it the AI, even more intelligence capability, the agentic layer that you really have helped pioneer and now the incredible interface layer, and we're so excited that the first one is on Cowork. Congratulations. Well done. You're doing a great job. Thanks for everything you're doing for the whole industry. We're so grateful to you.

Thank you for having me.

Really thrilled. Thank you so much. All right. Thank you for coming to Dreamforce. Please thank the Anthropic team. And now please welcome back from that brief intermission, Patrick Stokes. Give my hand.

All right. Me again, just for a minute. Okay. So I think you can see how special this is. And what I really want is for you all to go out and feel it. Dario was right. When you start using Salesforce with an agentic interface, the amount of value that you get from Salesforce just explodes. It's an incredible experience. Okay. So we've talked about AIforce. It's time to talk for a few minutes about Agentforce. Agentforce has been this incredible platform for us. I think I was the one launching it maybe 2 or 3 years ago. I've lost track of time, right up on this stage. And then in that time, we have over 30,000 customers on this platform. We're doing 7 billion AWUs. We've been adding more and more to it, like agent script and voice, which are GA now. But we've kind of learned something as we've started putting this out. This is built as a platform. So any of you can come and build your own agents. But what we learned is that building agents, it's actually kind of tricky building with a probabilistic system is a new muscle, is a new skill that we all have to learn. And so we wanted to solve for that. So this year, we have been hard at work building out-of-the-box agents that sit on top of Agentforce that anyone in the organization can go and implement and deploy. Anyone, not just IT, but your business users as well. And that starts with agents like Hunter, Marc has talked about this a little bit, your outbound sales agent out there responding to your leads, hunting them down and trying to turn it into real pipeline or Piper, which you're going to see in just a moment, which sits on your website, responding to questions that all of your customers might have. And then, of course, we have Kacey when you need to get help, you can go see Kacey right now and help salesforce.com, you can deploy this on your own website so that your customers can get help, but your customers aren't the only ones who sometimes need help. Sometimes your employees need a little bit of help as well, and we have a Paige for IT service and HR service. So if you're laptop breaks, you know exactly where it go. And as Marc pointed out, we're incredibly excited about our all-new customer agent, Fin, which is just an incredible agent. I hope you get down to the camp ground to see Fin. And now to bring Agentforce in all of these agents to life, I'm incredibly excited to her first Dreamforce main stage appearance. I think you're going to like her. Please welcome Katie O'Neil.

Thank you, Patrick. Siemens is a global leader in industrial AI. Their technology powers buildings and factories and transportation around the world. Over the last decade, Salesforce has really become an integral part of how they run their business. And today, they're driving success with Agentforce, a family of agents working together across [indiscernible] and we're going to show you these agents in action. So let's step into a demo. We're going to start here on the Siemens website. At Siemens, they rely a global ecosystem of partners to bring their technology to their customers. But when one of those perspective partners arrives on the website, they could be left searching their pages, filling out static forms and ultimately waiting for someone to get back to them. That is potential revenue slipping through the cracks. The Piper changes all that. Piper is Siemens inbound pipeline generation agent. You can think about her like their newest employee on a single mission, converting inbound buyers into quality pipeline. Piper, she is always on. She is super easy to implement. Every customer goes live in 45 days or less, and she is working 24/7. So let's jump in. Let's engage with Piper. Welcome back. How can I help you today? Piper, I got an e-mail from Siemens about becoming a distribution partner. Can you tell me a little bit more about the program? Absolutely. Based on what I know about your business, I think there could be a strong fit with Siemens' Industrial Automation distribution partner program. I pulled together a quick overview based on what's most relevant to your business. How incredible is that? Piper knows who I am because I click through an e-mail. She's grounded in the context of Siemens Salesforce. So she knows everything about my role and my company, combine that with all of her knowledge of Siemens messaging and positioning and Piper just spun up a super personalized presentation just for me in seconds on the website. This is the dream. You have a hot buyer and Pipers ushering them along in their journey. Now this is peak bites, and I do want to take it one step further. Thanks, Piper, what would the commercial model look like for a distributor of our size? Great question about the commercial model. It's definitely worth exploring in more detail. Let's get you in touch with the Siemens representative who can walk you through it. Go ahead and pick a time that works for you. Feel free to pick a time that works best for you. Okay. So Piper knows that a question around commercial signals buyer intent. Combine that with my account context, Piper knows that right now is the time to bring in a seller. So she looked inside of Salesforce, saw that Ryan Smith is my line account executive. And in just a few clicks, I can book that time. Boom, pipeline was just created. No forms, no waiting, hyper, just generated quality pipeline for the Siemens business, that was totally incredible. Now that's one area of the business where agents are going to work. Let's expand Siemens digital workforce. Let's talk about another agent, an entirely different area of the business, supply chain. For Siemens, something like supplier onboarding, it is a process that can take days, a single disruption. It can cause a huge domino effect that creates production delays and it can cost the company millions. But that's what we're solving with Marshall, our operations agent. Marshall is going to take that entire origination to and bring it down to just hours. And here's how. All we have to do is give Marshall the name of a supplier and he's going to go to work in the back end. We're here in Slack, but Agentforce meets you where work already happens. So if you work out of e-mail or Microsoft teams, Marshall will come find you in those channels. And you're watching Marshall go to work. He's doing things like collecting information. He's reviewing documents. He's even going to pull in a person when something needs human review. Now here you're watching his getting though the merit. But if you'll notice, there's one area where he's getting stuck, and that's actually creating the supplier inside SAP. And in fact, this is where a majority of AI projects hit a wall, which is actually getting our agents to work inside of back-end systems. So today, we are so excited to announce new capabilities with Marshall that is going to do exactly that and let's show you. As Marshall jumps in these back in systems, the first thing he has to do is he has to learn. He has to learn this process supplier onboarding. It is not a trivial process. So we'll give them access to an SAP sandbox. You can think about a sandbox like a classroom. It's a safe learning environment where Marshall can go through and safely learn this process without touching production. You're watching them do things like learn where to click, which fields are required, but he's not just memorizing those things. He's using LLM reasoning to really understand the business rules behind that process. So here, for example, Marshall will learn that a U.S. supplier actually needs an additional form before they can continue onboarding. Now this will process of learning, this is what would take a new employee weeks to learn. But Marshall, he just learned it in 90 minutes. I want to see do with all the learnings. Marshall will package them up, create a library of trusted actions, and that is where AI reasoning becomes deterministic execution. What does that mean? It means when it comes time for something like supplier onboarding, Marshall is not just improvising. Marshall is executing against the same trusted actions every single time, so you know you can rely on him. Okay. So we just watched Marshall learn this entire process of supplier onboarding. Let's put them to the test, let's see them go to work. Now in this next part of the demo, I do want to turn our attention over to Gus or demo driver, Gus, give here in the audience a quick way for me, but actually Gus, waive both hand because look at this, Gus is actually completely hand-free in this demo. Gus has enjoyed his cup of coffee, well, Marshall goes to work. Look at this, this is an incredible. Marshall is in SAP. Marshall is updating every single field completely autonomously. This is incredible. This is where agents are at their best. Repeatable work that has to be done right every single time. Now back over in Slack, all your employees are going to see is that this supplier has now just been created, has been onboarded and is activated. And as something inside SAP changes, no problem. Marshall will go back into that classroom. He's going to relearn and adapt, and that is trusted process automation. That is how Siemens is putting agents to work across their business. That's how they're using Marshall to take supplier onboarding from days down to just hours. That is how they're using Piper to generate quality pipeline. This is Agentforce. This is your digital workforce or here during first. We are so excited for you to get hands on. We want you to walk away with your own family of agents. So come find us in the learning labs. And for now, Marc, I will pass it back over to you.

All right. [indiscernible] for Katie. Great job, Katie, well done. Great demo. Well done, fantastic, amazing. Katie came from our qualified acquisition. Qualified team, stand up and take a hand, qualified team. Piper, amazing, what you have done, built Piper, great job. Great, great job. Okay. My friend has come from Munich, Germany. I was just with him. Welcome, Roland. Fantastic. Great. Nice to have somebody in my size here. People don't know my families from bot and bought in and Bavaria. So we have a lot of fun together. We've known each other for a long time. We're so grateful to have you as part of a Salesforce Ohana and your first Dreamforce, isn't that right? What's your initial experience at Dreamforce so far?

I know you just throw a great party. Great people. And Katie, thank you very much. Great job. And I'm so happy to learn that you share talent.

Great. Well, we're just starting. We're just starting. Now -- okay, Rohan, give us your vision because you understand these deterministic layers, but also these probabilistic layers, how AI works in the enterprise. You're building products yourself. Siemens is an incredible company. you built some of the best, most exciting technology across every industry, whether it's industrial or even health care or energy, it's amazing. I think all I said some time of our life or found ourselves in a Siemens CT scan or seeing how huge energy plant that you have built, it's amazing what your company does. Give us your vision of how you see this technology impacting Siemens.