At its recent Work Transformation Summit, the video conferencing giant unveiled Zoom IQ for Sales, an AI-powered service for salespeople that is able to quickly analyze sales meetings and produce insights.
Zoom IQ is an add-on for Zoom Meetings and aims to help organisations become more efficient by highlighting important insights that might otherwise be missed. The service is integrated in Zoom (naturally), Salesforce, and other enterprise services.
A platform for work
“Zoom is always searching for ways to help our customers elevate their end customers’ experience and Zoom IQ for Sales is the latest development in that journey,” Zoom's Josh Dulberger told TechCrunch.
“Zoom IQ for Sales … [can] identify opportunities, assess risks and ultimately enable and improve sales team performance. It uses natural language processing models to process post-meeting transcripts and deal progress data, generating insights for sales reps and managers.”
Zoom IQ for Sales is available now as an add-on for Zoom Meetings customers with the company adding that support for Zoom Phone is also coming soon
While Zoom was an early winner from the pandemic, its fortunes since have been mixed. The company's stock, which rocketed up and to the right in 2020, has come back to earth with a thud.
After reaching a high of $ 559 in October 2020, Zoom now trades at $ 114, a not unrespectable figure but a far cry from where it has been.
Efforts like IQ for Sales are Zoom's attempt at expanding its usefulness to organisations beyond purely video calls – and compete with Microsoft Teams.
After being a little slow off the block, Microsoft went into overdrive to build and promote Teams, which seamlessly integrated with the broader Microsoft 365 suite.
Microsoft's ploy worked: Teams now has over 270 million monthly active users, according to the company, up from around 250 million in July 2021.
Whether Zoom can catch up remains to be seen, but tools like IQ for Sales are a very good starting point.