Bill McDermott, Chairman, President & CEO ServiceNow, speaking connected CNBC's Squawk Box astatine the World Economic Forum Annual Meeting successful Davos, Switzerland connected Jan. 17th, 2024.
Adam Galici | CNBC
American endeavor bundle elephantine ServiceNow announced Monday it plans to put $1.5 cardinal successful the U.K. implicit the adjacent 5 years, successful a ballot of assurance for Prime Minister Keir Starmer arsenic helium looks to pull overseas concern to the country.
The tech steadfast said the mammoth sum of currency volition spell toward increasing its U.K. business, arsenic it plans to grow with caller bureau abstraction and turn its worker basal beyond the 1,000 radical it hires successful Britain currently.
Beyond section concern expansion, ServiceNow besides said it would put the currency into localizing the processing of information for its ample connection models (LLMs), AI models that trust connected immense quantities of grooming information to beryllium capable to recognize and make substance similar a human.
The steadfast said that it would bring Nvidia GPUs (graphics processing units) to its information centers based successful London and the Welsh metropolis of Newport to enactment processing of information connected its LLMs wrong the U.K. This volition assistance enactment "domain circumstantial LLMs" for U.K. clients and governments, ServiceNow said.
Policymakers and regulators successful Europe person progressively been calling for alleged AI "sovereignty." This refers to the thought that the technologies and information underpinning precocious AI systems should beryllium stored wrong Europe, and much accurately bespeak the civilization and past of Europeans.
ServiceNow said it besides planned to connection caller skills programs successful the U.K. that volition scope 240,000 learners.
"The United Kingdom is embracing exertion translation astatine scale. In this caller property of AI, the state continues to beryllium a planetary person successful driving innovation for the payment of each its communities," Bill McDermott, ServiceNow's CEO, said successful a connection Monday.
"Our concern accelerates the U.K.'s propulsion to enactment AI to work, empowering people, enriching experiences, and strengthening societal bonds. Together, ServiceNow and our customers crossed the U.K. are delivering a aboriginal wherever exertion benefits everyone."
The announcement was made arsenic portion of the International Investment Summit, wherever U.K. person Keir Starmer is acceptable to stitchery 300 concern leaders to promote overseas investment.
ServiceNow, which has a marketplace capitalization of $194.6 billion, has seen its shares ascent implicit 37% this year, acknowledgment successful nary tiny portion to the hype surrounding AI.
ServiceNow's cloud-based exertion is intended to assistance different businesses negociate integer workflows. But the institution hasn't been shy successful touting its ain AI prowess.
Last month, ServiceNow launched Xanadu, a level that uses a scope of AI technologies including alleged "agents" to boost idiosyncratic productivity. AI agents are integer assistants that are designed to assistance employees get tasks done with constricted supervision.
In the 2nd 4th of 2024, the institution reported net per stock of $3.13, excluding items, connected $2.63 cardinal successful revenue, beating expert expectations.
ServiceNow isn't the lone tech elephantine betting large connected the U.K. arsenic a planetary destination for AI innovation. Earlier this year, Salesforce opened its first planetary AI center successful London, a abstraction it's utilizing to facilitate AI grooming and upskilling programs arsenic good arsenic beforehand manufacture collaboration.
The AI halfway forms portion of a $4 cardinal concern Salesforce committed to making successful the U.K. implicit 5 years successful June past year.
English (US) ·