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Zoom Video Launches A.I.-Powered Software

Zoom Video Communications (ZM) has launched a new artificial intelligence-powered collaboration software product called “Zoom Workplace.”

The company says the new platform pulls many of its communications products together in a single place and ties them together with an A.I. interface.

Zoom has also launched “Ask AI Companion,” a new service that will allow users to use natural language to find information from Zoom Meeting, Chat, Mail, and other services.

The company said that it plans to expand the reach of its Ask AI Companion to include third-party software products such as Microsoft 365 and Google Workspace.

The company made the announcements at its Enterprise Connect customer event that’s being held in Orlando, Florida.

The push into A.I. comes as Zoom tries to revive its growth. The company thrived during the Covid-19 pandemic, posting three straight quarters of revenue growth that exceeded 350%. However, the company’s sales are now growing in the low single digits.

The company has also expanded into areas such as chat, telephony, email, call centres, and other services as it competes in a crowded market segment.

The stock of Zoom Video Communications has declined 4% over the last 12 months to trade at $65.96 U.S. per share.