ServiceNow Acquires Element AI
ServiceNow will acquire Element AI, an artificial intelligence (AI) company. Financial terms of the deal were not disclosed.
Element AI, which applies artificial intelligence to text and language, chat, images, search, question response, and summarization, will accelerate AI innovation natively in the Now Platform.
ServiceNow's AI-powered products include IT Service Management Pro, Customer Service Management Pro, and HR Service Delivery Pro. With 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.
"AI technology is evolving rapidly as companies race to digitally transform 20th-century processes and business models," said ServiceNow Chief AI Officer Vijay Narayanan in a statement. "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."
"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 in a statement. "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."
Element AI is ServiceNow's fourth AI acquisition in 2020, following Loom Systems, Passage AI, and Sweagle.