Can Dreamforce Defy Wall Street AI Bubble Fears?

Bloomberg

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00:00I know Writer to be an LLM-focused company, agentic AI-focused company for the enterprise.

00:09Either you beat Salesforce at that or you work with them at that. Which is it?

00:14Yeah, what we do is help companies rewire operations to be AI native. And so partnerships

00:20with companies like Salesforce are a really important part of that. So it's definitely

00:24the partnership angle. But there is something to be said around doing things AI native and being

00:30able to start with a blank sheet of paper versus, you know, layering on agentic into, you know,

00:36a system of record that has existed for a while. Yeah, you've kind of wanted to build it from the

00:40ground up, May. But I turn therefore to Matty. And when you're thinking about the audio applications

00:44of artificial intelligence, we've had you on the show to think about how now music can be created

00:48by just writing in a few key prompts. How are companies adopting Eleven Labs appropriately

00:55with a return on that investment? Is it with a Salesforce or is it from the ground up?

01:02Caroline, thanks for having me here. We've seen an incredible shift over last year

01:06where the combination of voice and conversational agents can elevate a customer experience for

01:12customers across Fortune 500 all the way to some of the highest scaling startups. We've seen both.

01:18We've seen companies built using some of the best in breed technologies, including voice,

01:23like you said, all relying on the entirety of the of the platform. We are thrilled to be here at

01:29Dreamforce. And as part of the work we do, be part of the voice for agent force, powering that

01:36that work across across their platform. So we've seen both and in across the enterprise segment,

01:42quick adoption in that sector.

01:44May, we have loved how outspoken and clear you've been in pushing back on perhaps these narratives

01:50of 95 percent of all AI pilots aren't working when we think about the MIT report that really

01:56rocked the market. But it's about nuance in this conversation, May. So bring us that nuance of

02:00when is it working when they're adopting writer either from the ground up or indeed within Salesforce

02:05offerings?

02:06Yeah. AI is not another software upgrade. You can't outsource it to the CIO and expect results.

02:13You know, a lot of what we do is go to executives and CEOs and say, look, this is about you. Sometimes

02:18you kind of want to shake them like this has got to be a top down, very heavy mandate to rewire

02:24processes end to end. If you leave it up to people, a lot of what they're going to be doing is personal

02:30productivity stuff with AI versus the high leverage things that executives certainly want. And as

02:35you've seen in terms of what the market wants and this continued investment in AI, what people are

02:40expecting from this enterprise investment.

02:42Matti, what you and May have in common is your private companies. You're free from the scrutiny that

02:47public companies are. But in the last segment, we talked about how some of the analysts that cover

02:51Salesforce are skeptical about agent force in particular. You've just said to us, both of

03:01you, we actually do see adoption in the enterprise. So what does that tell you if the data for their

03:08product specifically isn't as strong?

03:11Look, our focus is predominantly on working across our work at 11 labs. And we've seen use cases across

03:19e-commerce elevate where you suddenly can not only have customer support, you have customer experience

03:25where users going into the product, going into the site, will be able to interact with agents to help

03:31you shop through the product all the way from the start. It's a good company, Immobiliaria, one of the

03:36biggest in Italy, working on use cases like this. And we've seen this scale across a wider degree of

03:42segments in financial services and technology and healthcare. What I think is true and key as we think

03:50about Salesforce, their distribution across clients, of course, stretches all types of industries and

03:58including regulated industries. So it will take a slightly longer time to bring a lot of the technology

04:04into those industries where additional deployment, additional integrations to existing stack are

04:10slightly more complex to some of the companies in the space.

04:13May, when you're both on stage with each other later today, what's kind of the one key thing you

04:18want to get across about what is happening among your enterprise customers at the moment? What you're

04:22fighting with each day or what you're most focused on?

04:25Yeah. We're hosts of Salesforce, right? They are wonderful partners. And I think a big part of what we

04:31want to impart to that audience is how do you make the most out of your data investment with

04:36agentic AI. And I think both of us have got companies where enterprises are getting real ROI,

04:42right, from our products and really helping bring that to the data they've got in the Salesforce

04:47ecosystems is going to be one of the things we talk about.

04:50What's so interesting, really, Matty, has been the ongoing anxiety among that enterprise workforce

04:58about whether they're being augmented or whether indeed they're being replaced. How have you continued to

05:03try and tell that story, particularly when you're in the world of music, of IP, of real individuality and

05:10creativity?

05:13For us, it's extremely important to work with the industry together. So our music is the first fully

05:18licensed AI music model at incredible quality, working with our research team. And that's the approach

05:24we've taken across voice, across music, across as we build conversational agents. But like you say,

05:29AI is bringing change. And the way that we've seen this across enterprise, across the companies we

05:34work with, is people using AI will be the people that will unfortunately replace people not using AI.

05:40So that adoption, both in the enterprise setting and across the wider global setting, it's all about

05:46being the user, trying it out and bringing that to your work.

05:50And May, when you come on, we've always been very keen to ask you about your growth trajectory,

05:56but also the haves and the have-nots in this space. How much are you still having companies,

06:01smaller companies, call you up saying, hey, we'd like to team with you, we'd like to offer you,

06:04we'd like to have some sort of buyout? Are you seeing that coming from VCs just being more

06:08discerning, putting money for the winners, but taking away from those that aren't hitting scale?

06:14The bar for sharp differentiation has never been harder. I think with the hyperscalers just flooding

06:21the zone, it has been such a challenge to make sure the enterprise understands what's real,

06:26what's what. And I think that's just getting harder for smaller startups to enter the enterprise as a

06:31result. We were lucky in that we started building LLMs for the enterprise five years ago. And so a lot of

06:38our longstanding relationships have been a result of why we land new customers in these spaces. And

06:46I think that is just getting harder because of the hyperscaler investment, but there's just so many

06:52categories. The enterprise needs so much help and people are not focused on it the way that startups

06:57can. So still a ton of opportunity, but yeah, absolutely getting harder.

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