Salesforce's Chief Ethical Officer Optimistic About US AI Regulation, Says Momentum is Building

By John Lopez

Mar 01 2024, 07:27 AM EST

Amid rapid development, the question of how to regulate artificial intelligence (AI) has become increasingly important.

Salesforce's Chief Ethical and Humane Use Officer, Paula Goldman, is optimistic about the future of AI regulation in the United States, citing growing momentum and bipartisan support.

Crafting AI Regulations

Goldman, speaking to CNBC at the Mobile World Congress tech trade show in Barcelona, Spain, highlighted the progress being made towards concrete AI laws in the US. She noted that discussions in the Senate have shown bipartisan agreement on the need for regulation, which is a positive sign for the future.

One of the key challenges in AI regulation is achieving consistency across different jurisdictions. Goldman emphasized the importance of federal legislation over state-by-state laws to ensure uniform standards. She stressed that having clear guardrails around AI technology is essential for its responsible use.

Currently, several AI-related bills are under consideration in the US Congress, including the REAL Political Advertisements Act, the National AI Commission Act, and the AI Labeling Act. Despite these efforts, there is still no official regulation specifically targeting AI.

Salesforce and AI

Meanwhile, Salesforce has been experiencing strong financial performance, as evidenced by its recent earnings report. In the fourth quarter of the fiscal year 2024, the company's revenue rose to $9.29 billion, representing an 11% year-over-year increase. The full-year revenue reached $34.9 billion, significantly improving the non-GAAP operating margin.

Looking ahead to fiscal year 2025, Salesforce projects optimistic growth, with revenue expected to reach $38 billion. The company has introduced its first-ever quarterly dividend and increased its share repurchase plan, demonstrating confidence in its future prospects.

Salesforce's commitment to AI is evident in its product offerings, including Einstein, an integrated set of AI tools designed for its Customer Relationship Management platform. The company's AI offerings have gained momentum and driven productivity, contributing to its overall success.

The company's earnings call also emphasized integrating Salesforce's platforms into a single solution, harnessing data to enable AI capabilities, and delivering these technologies to all customer segments.

While the path to AI regulation in the United States may still be developing, there is growing optimism and momentum fueled by bipartisan support and industry engagement. As technology advances, ensuring responsible and ethical use of AI will remain a top priority for companies like Salesforce.