ServiceNow, Inc. (NOW)

Demand for Gen AI is incredibly strong: ServiceNow CFO

Shares of ServiceNow (NOW) are dipping on Thursday despite the company posting first quarter results that show revenue increased 24% to $2.6 billion. However, the company reported a sales growth forecast for the second quarter that was slightly softer than analysts had been expecting. ServiceNow CFO Gina Mastantuono joins Yahoo Finance to give insight into the company's performance, its focus on generative AI, and more. Mastantuono talks about the fervor over generative AI: "Every CEO and CFO I'm talking to is leaning into what gen AI can do for their business. IDC is talking about $11 trillion impact from gen AI over the next three years, and businesses spending half a trillion in US dollars on AI by 2027, and so we've been innovating on the platform with our gen AI SKUs. In fact, we just launched, two quarters ago, in our gen AI SKUs are the fastest growing product launch we've seen in our history. It's been in seven of the top ten deals this year included gen AI. We have customers like Microsoft (MSFT), Novartis (NVS), Hitachi Energy really leaning into our gen AI offerings and it's continuing to innovate on the platform and giving our customers more capabilities as they look to strengthen their AI strategies over the coming year." For more expert insight and the latest market action, click here to watch this full episode. This post was written by Nicholas Jacobino