Yahoo Finance Zoom Video (ZM) Users Can Now Access Free Versions of Zoom IQ
Zoom Video Communications ZM has introduced significant elements of Zoom IQ, an intelligent assistant that enhances collaboration and unleashes individuals' capabilities using generative artificial intelligence (“AI”).
These features, such as Zoom Meeting summary and Zoom Team Chat compose, are now accessible through complimentary trial periods for eligible customers. By leveraging these tools, teams can enhance productivity, balance workday priorities and collaborate more effectively.
Zoom is committed to providing customers with necessary tools to have control over its data. To access and utilize these features, customers will need to go to the Zoom admin console and opt into the free trials for each feature. During this process, customers will have the option to specify their preferences regarding data sharing with Zoom. Account administrators have the flexibility to modify these data-sharing preferences at any given point. It is important to note that customer data will not be utilized for training third-party models.
ZM is continuously improving its products by integrating Zoom IQ capabilities to better assist its customers and users. In the near future, the company plans to introduce a new set of features powered by generative AI. These upcoming features will enable users to compose email content, summarize Team Chat conversations, organize ideas and create draft content for whiteboards.
Zoom Video Communications, Inc. Price and Consensus
Zoom Video Communications, Inc. price-consensus-chart | Zoom Video Communications, Inc. Quote
Zoom’s Recent AI Initiatives
Zoom is strategically leveraging AI to increase its user base and enhance user engagement. By harnessing the power of AI, the company aims to attract more users to its platform and enhance the overall experience for its existing users.
The company adopts a federated approach to AI, utilizing its own exclusive large language AI models as well as models from renowned AI companies like OpenAI and Anthropic. Additionally, Zoom has the capability to incorporate models from specific customers. This flexibility allows ZM to cater to the diverse needs of its customers and deliver maximum value to them.
In March 2023, Zoom unveiled the expansion of its advanced tool called Zoom IQ. This innovative companion is designed to enhance collaboration and maximize individual potential by streamlining chat conversations, organizing concepts, generating content for chats, emails and whiteboard sessions, creating meeting agendas and offering a range of other useful features. Zoom IQ aims to provide users with a comprehensive set of capabilities to facilitate efficient and effective communication and collaboration.
Zoom Ventures recently made an undisclosed investment in Anthropic, solidifying the partnership between the two companies. Anthropic focuses on advancing research and development in order to build scalable AI systems that are controllable, reliable and ethical. The specific financial details of ZM's investment were not disclosed.
Zacks Rank & Key Picks
Currently, Zoom carries a Zacks Rank #3 (Hold).
Shares of Zoom have gained 1.9% year to date compared with the Zacks Computer and Technology sector’s increase of 32.9% in the same time frame.
The Zacks Consensus Estimate for ZM’s first-quarter fiscal 2024 earnings is pegged at a profit of $1.05 per share. The Zacks Consensus Estimate for revenues is pegged at $1.11 billion, indicating year-over-year growth of 1.27%.
Some better-ranked stocks from the broader sector, which investors can consider, are Momo MOMO, Dropbox DBX and BlackLine BL, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Momo have declined 0.4% year to date. The Zacks Consensus Estimate for MOMO’s first-quarter 2023 revenues is pegged at $393.8 million, indicating a year-over-year decline of 20.7%. The consensus mark for earnings is pegged at 32 cents per share, which has remained unchanged over the past 30 days.
Shares of Dropbox have gained 7% year to date. The Zacks Consensus Estimate for DBX’s second-quarter 2023 revenues is pegged at $613.64 million, indicating year-over-year growth of 7.15%. The consensus mark for earnings is pegged at 45 cents per share, which has increased by 3 cents over the past 30 days.
Shares of BlackLine have declined 17.9% year to date. The Zacks Consensus Estimate for BL’s second-quarter 2023 revenues is pegged at $143.9 million, indicating year-over-year growth of 12%. The consensus mark for earnings is pegged at 28 cents per share, which has increased by 8 cents over the past 30 days.
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