ServiceNow has signed an agreement to acquire Element AI, a leading artificial intelligence (AI) company. The acquisition of Element AI is ServiceNow’s latest strategic investment to accelerate AI innovation in the Now Platform. The acquisition is expected to significantly enhance ServiceNow’s efforts at building a better and more intelligent workflow platform to enabling employees to work smarter and faster, streamline business decisions, and unlock new levels of productivity.
Element AI, has been a pioneer in the AI industry and will bring expertise in applying modern AI to text and language, chat, images, search, question response, and summarization and will accelerate AI innovation natively in the Now Platform.
With the acquisition of Element AI, ServiceNow plans to create an AI Innovation Hub in Canada to accelerate customer‑focused AI innovation in the Now Platform. The new investment adds to the company’s commitment to the Canadian market. ServiceNow has earlier set up technology development centers in Chicago, Hyderabad, Kirkland, Wash., San Diego, and Silicon Valley.
On the acquisition, ServiceNow Chief AI Officer Vijay Narayanan, said – “AI technology is evolving rapidly as companies race to digitally transform 20th century processes and business models.”
“ServiceNow is leading this once‑in‑a‑generation opportunity to make work, work better for people. With Element AI’s powerful capabilities and world class talent, ServiceNow will empower employees and customers to focus on areas where only humans excel – creative thinking, customer interactions, and unpredictable work. That’s a smarter way to workflow.”
ServiceNow has seen strong demand for its AI‑powered products such as IT Service Management Pro, Customer Service Management Pro, and HR Service Delivery Pro. With practical, purpose‑built AI and analytics capabilities embedded into its Now Platform and workflow products, ServiceNow enables enterprises to surface and summarize relevant information, understand content and conversations, make predictions and recommendations, take optimal actions, and automate repetitive tasks.
“Element AI’s vision has always been to redefine how companies use AI to help people work smarter,” said Element AI Founder and CEO, Jean‑Francois Gagné. “ServiceNow is leading the workflow revolution and we are inspired by its purpose to make the world of work, work better for people. ServiceNow is the clear partner for us to apply our talent and technology to the most significant challenges facing the enterprise today.”
Earlier this year, ServiceNow had launched Now Intelligence, a set of powerful AI capabilities to help customers scale insight to action. ServiceNow expects to complete the acquisition in early 2021.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.