ServiceNow eyes acquisition of Element AI
ServiceNow announced it has signed an agreement to acquire Element AI, a leading artificial intelligence (AI) company with deep AI capabilities. Element AI will significantly enhance ServiceNow’s commitment to build the world’s most intelligent workflow platform, enabling employees to work smarter and faster, streamline business decisions, and unlock new levels of productivity, according to ServiceNow.
With the acquisition of Element AI, ServiceNow will create an AI Innovation Hub in Canada to accelerate customer-focused AI innovation in the Now Platform.
The new investment deepens ServiceNow’s commitment to the Canadian market, which has long been a leader in AI research and represents one of the world’s most significant locations for AI talent.
ServiceNow’s AI Innovation Hub in Canada follows similar investments by ServiceNow to create technology development centers in Chicago, Hyderabad, Kirkland, Wash., San Diego, and Silicon Valley.
“AI technology is evolving rapidly as companies race to digitally transform 20th century processes and business models,” said ServiceNow chief AI officer Vijay Narayanan. “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.”
The acquisition of Element AI is ServiceNow’s latest strategic investment to accelerate AI innovation in the Now Platform.
ServiceNow expects to complete the acquisition in early 2021.
For more information about this news, visit www.servicenow.com.