NEWS
Google Duet Steals the shI/O
Google has announced the launch of Duet AI for Google Workspace, which brings artificial intelligence (AI) to the platform’s suite of applications to improve collaboration, productivity, and creativity. Duet AI uses generative AI to help users write, organise, visualise, accelerate workflows, and have richer meetings. The mobile version of Gmail now has Duet AI integration, allowing users to draft complete responses with just a few words as a prompt. Contextual assistance will also soon be added, enabling users to create professional replies that automatically fill in names and other relevant information. Duet AI has also been embedded into
Google Slides, enabling users to generate images with a few words. The AI’s image models can visualise something that has never existed before, making it easier for marketers, creative agencies, and other professionals to provide clear visual input early in the process. In Google Sheets, Duet AI helps users analyse and act on data with automated data classification and the creation of custom plans. Classification tools understand the context of data in a cell and can assign a label to it, saving time and effort in developing a clear and visually engaging analysis. The AI also creates custom plans for tasks, projects, or any activity that users want to track or manage, helping them get organised. Duet AI has been integrated into Google Meet, introducing the ability to generate unique backgrounds for video calls. The feature helps users express themselves and deepen connections during video calls while protecting the privacy of their surroundings. Finally, Google has also introduced upgraded neural models for grammar in Google Docs, allowing users to generate professional-grade writing in various languages. The AI offers proofreading suggestions for writing concisely, avoiding repetition, and leveraging a more formal or active voice, giving users more control over their writing.
cloud.google.com
8x8 boost revenues by $743 million in FY2023
Cloud communications platform provider 8x8, released its financial results for the fourth quarter and fiscal year 2023, ending on March 31, 2023. The company experienced a 2% year-over-year increase in total revenue for Q4 2023, reaching $184.5 million, including $26.9 million from Fuze revenue. Service revenue also saw a 2% rise to $176.6 million, including $26.7 million from Fuze revenue. In terms of operating profit, the company reported a significant improvement. The Q4 2023 GAAP operating profit was $3.5 million, a substantial shift from the GAAP operating loss of $40.5 million in the same quarter of fiscal 2022. Similarly, the non-GAAP operating profit for Q4 2023 was $24.8 million, accounting for 13.5% of the revenue, compared to $4.2 million, or 2.3% of revenue, in Q4 2022. For the entire fiscal year 2023, 8x8 achieved
a notable 17% YoY increase in total revenue, amounting to $743.9 million. Service revenue also grew by 18% YoY, reaching $710.0 million. The company reduced its GAAP operating loss to $66.3 million in fiscal 2023, compared to $154.1 million in fiscal 2022. Additionally, the non-GAAP operating profit for fiscal 2023 reached $62.4 million, accounting for 8.4% of the revenue, as opposed to $10.6 million, or 1.7% of revenue, in the previous fiscal year. “Fiscal 2023 was a year of milestones for 8x8 as we continued to invest in innovation while increasing our profitability and cash flow,” said Samuel Wilson, 8x8 Interim Chief Executive Officer. “We achieved record service and total revenue, completed the integration of Fuze operations, extended the global coverage of our communications platform, and introduced platform wide integration of generative AI from OpenAI.”
Samuel Wilson Interim Chief Executive Officer
8x8.com
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