LONDON (Reuters) – U.S. software company Salesforce said on Thursday it will invest $4 billion in its UK operations over the next five years on the back of strong demand for digital transformation and artificial intelligence.
The company said the plan is based on a five-year $2.5 billion injection set in 2018.
The new investment comes just weeks after Microsoft president Brad Smith said it had “shaken confidence” in the UK and criticized a regulator’s decision to block the company’s acquisition of Activision Blizzard. It is expected to be a tailwind to
“Salesforce’s massive investment in UK operations over the next five years is a strong endorsement of our economy,” UK Prime Minister Rishi Suak said in a statement released by the NYSE-listed company.
During a visit to Washington earlier this month, Sunak laid out plans for a global summit on AI safety in the UK later this year, as governments around the world scrambling to craft rules around the use of innovative technology.
Salesforce said it will work with governments to drive the next wave of digital transformation “in this new AI era.”
“A clear innovation-promoting regulatory framework enforcing the safe and responsible use of AI is essential, and Salesforce is fully committed to providing UK businesses with secure, trustworthy, enterprise-ready generative AI.” said Zahra Bahrololoumi, Head of Salesforce UKI.
Salesforce earlier this month blamed the disappointing quarterly results on uncertainty in the U.S. economy and weak demand from financial services and tech companies.
(Reporting: Muvija M, Editing: Sarah Young)
