Giant Investment in Artificial Intelligence from Qualtrics: 500 Million Dollars

Qualtrics, a cloud-based platform for managing online customer experiences, plans to spend $500 million on AI over the next four years. The company made the announcement this morning in conjunction with the launch of its new AI integrated platform, XM/os2 (a decidedly unwieldy name), which delivers productive AI solutions tailored to enterprise experience management use cases. "For the first time, we are bringing the power of generative AI to every part of our platform," Qualtrics CEO Zig Serafin said in a statement.

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What Qualtrics Will Do?

This is the most significant innovation in experience management since we launched the category in 2017." The details of Qualtrics' $125 million annual investment over the next four years are extremely vague. It is unclear how the tranche will be divided among the company's business divisions and what specific internal efforts it will fund. Requests for clarification are frequently denied. But assuming it does materialise, the Qualtrics investment is the latest example of a tech giant pouring large amounts of capital into the booming productive AI category.

Salesforce Ventures, the VC division of Salesforce, plans to transfer $500 million to startups developing productive AI technologies. Risk capital firm Sapphire Ventures has allocated a budget of over $ 1 billion for corporate AI startups. Workday recently added $250 million to its existing VC fund to specifically support AI and machine learning startups. And a few weeks ago AWS said it aims to invest $100 million in a programme to fund productive AI startups. Meanwhile, Accenture and PwC announced plans to invest $3bn and $1bn respectively in AI, ahead of SAP's investments in leading AI players Anthropic, Cohere and Aleph Alpha.