Zoom shares rose, AI plans revealed | | | | Turtles AI

  #Zoom #shares rose after its #earnings #report projected higher #profits. The #video chat #company also plans new #AI #tools, but says it won't use #customer #data to #train them. Zoom shares jumped in after-hours trading on Monday after the video conferencing company said it expects higher-than-anticipated earnings for the rest of its 2023 fiscal year. In its second quarter earnings report, Zoom raised its profit outlook for 2024, now projecting revenues just under $4.5 billion. That's about 2% growth compared to this year. During an investor call, Zoom founder and CEO Eric Yuan talked up the company's rollout of recent AI features, calling the "aggressive roadmap" aimed at helping customers work smarter. One new feature, ZoomIQ, provides AI-generated meeting summaries. Yuan said generative AI can make the platform "stickier" and more valuable. Zoom recently faced backlash over updated terms allowing access to data to train AI. But product chief Smita Hashim said it won't use customer data that way. Yuan reiterated Zoom will develop AI responsibly, saying technology should build trust. He said by putting privacy first, Zoom leads in protecting customer content. Highlights:

• - Zoom forecasts higher than expected earnings for 2023 fiscal year
• - CEO discussed new AI tools aimed at helping customers during investor call
• - Company faced backlash over AI data access, but insists it won't use customer data
• - Zoom leading responsibly on AI by putting privacy first, CEO said

Zoom's forecast of rising profits even with modest revenue growth is an encouraging sign about its business trajectory. The company's emphasis on responsibly developing AI technologies that protect user privacy is also a positive step. What do you think about Zoom's outlook and its approach to new innovations like AI? I invite readers to share perspectives on Zoom's path forward.