SaaS driven Salesforce Launches Generative AI Services for Digital Lending Unveils Dedicated Public Sector Division in India at The Salesforce World Tour Essentials 2024 event in Mumbai
by Prashant Kapadia/NHN
MUMBAI, JUNE, 2024 : In India, among companies that use AI, 79 per cent employ AI-powered CRM solutions, and 80 per cent use Enterprise AI software platforms. Salesforce reports that AI-powered applications significantly enhance operational efficiency and customer experience. The primary drivers for using AI-powered cloud solutions in India include improved employee productivity (35 per cent), customer experience (34 per cent), and increased quality in product, production, supply chain, and service (29 per cent).
The latest IDC study indicates that the Salesforce economy is expanding, with AI accelerating its growth. The study predicts that Salesforce and its ecosystem in India will create 1.8 million new jobs and generate $88.6 billion in new revenues from 2022 to 2028.
Salesforce, on Wednesday, announced its public sector division in India to drive transformation. With the new venture, it aims to empower government agencies and public sector organisations to enhance citizen experiences using Salesforce technology. The announcement was made at the Salesforce World Tour Essentials event in Mumbai.
Salesforce Public Sector Solutions are designed to help government agencies serve citizens efficiently with out-of-the-box apps for digital service delivery. These solutions, built on the Salesforce Einstein platform, enable government organisations to leverage AI, automation, and citizen developer tools, fostering agility, efficiency, and digital transformation. This includes the recently launched Public Sector Einstein 1 for Service, which integrates CRM, trusted AI, and data capabilities to automate administrative tasks.
“Our focus on the public sector comes as cloud technology becomes essential for digital transformation, driving innovation and aiming to make India a $1 trillion digital economy by 2030. Predictive and generative AI, machine learning, and application development based on trust will boost citizen experiences,” said Arundhati Bhattacharya, CEO & chairperson, Salesforce India.
Another big announcement at the event was the launch of Digital Lending for India. This new platform enables banks and lenders to digitally manage consumer lending, reducing costs and the need for outdated systems. Exclusively for Indian customers, the platform integrates banking and financial data with customer data from Salesforce.
Built on Salesforce’s Financial Services Cloud, it provides a single view of customer information for loan application processing, leading to faster approvals. The platform unifies intake, underwriter review, and pre-disbursement operations for home, auto, and personal loans.
“Given the potential of technology in driving change, our new product “Digital Lending for India” can offer multiple benefits. India, with its rich scientific heritage, and diversity, with strong aspirations for a technology-driven economy, finds itself at a juncture, facing both challenges and opportunities in this global technological race,“ Bhattacharya.