Now that GDPR has gone into effect in Europe, Salesforce CEO Marc Benioff believes that the US needs to adopt a similar privacy law to protect its citizens.
During an earnings call regarding the company's Q1 2019 results, Benioff explained why such a law would benefit consumers in the US, saying:
“This is going to help our industry. It's going to set the guardrails around trust, around safety. It's going to provide the ability for the customers to interact with great next generation technologies in a safe way.”
Benioff also discussed the use of artificial intelligence in customer service, noting that the use of this technology starts to cross the line on consumer trust. As AI and other technologies are implemented by businesses, companies must ensure that they are trust-based.
Salesforce also reported Q1 revenue of $3.01bn which was up 25 per cent year-on-year. The firm's net income was able to hit $344m while its future revenue under contract is over $20bn. Salesforce then issued full-year guidance of $13.12bn ahead of previous forecasts.
In terms of growth, Sales Cloud grew by 16 per cent, Service Cloud grew by 29 per cent and Marketing and Commerce grew by 41 per cent. The company's Lightning PaaS also grew by 36 per cent. Salesforce revealed its plans to expand its data centres in the UK to better serve local demand.
As European governments and businesses begin to see the benefits of GDPR, it is likely that the US and other countries will consider adopting a similar privacy law of their own.
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