salesforce-赛富时：Salesforce：Agentforce有望成为新增长点

Investment Rating - The report does not explicitly mention an investment rating for Salesforce [1] Core Viewpoints - Agentforce is expected to become a new growth driver for Salesforce, enhancing the company's product ecosystem by integrating with Salesforce Platform, Data Cloud, and Customer 360 [2] - Agentforce's capabilities surpass those of Salesforce's previous AI solution, Einstein, and its potential could be further enhanced by OpenAI's large models [4] Product System - Salesforce's product system is built on a foundation of Platform, Data Cloud, Trust Layer, and Customer 360, with Agentforce adding pre-configured agents for various industries and roles [15][16][17] - The Platform layer includes MuleSoft, Einstein AI, and process automation, while Data Cloud handles structured and unstructured data, and Trust Layer ensures data security and privacy [15] Financial Performance - Salesforce's FY2024 revenue reached $34.857 billion, with subscription and support revenue accounting for 93% of total revenue [19] - Revenue growth has slowed, with FY2024 revenue increasing by 11.18% YoY, down from over 20% growth in previous years [19] - The Americas region contributed the highest revenue share at 67%, followed by Europe at 23%, and Asia-Pacific at 10% [25] - FY2024 operating profit surged by 386.50% YoY to$ 5.011 billion, while GAAP net income increased over 18 times to $4.136 billion [45] Agentforce Overview - Agentforce, launched in 2024, is an AI-driven automation tool designed to assist with service, sales, and marketing tasks [54] - It consists of five key elements: role, data, action, protection mechanism, and channel, enabling it to operate across various platforms like Slack and CRM [58] - Agentforce's workflow includes data input, prompt generation, reasoning engine processing, and action execution, with features like Query Enrichment and pre-configured workflows differentiating it from previous products [63][65] Agentforce Integration and Capabilities - Agentforce integrates with Data Cloud, allowing users to import data through methods like Data Cloud ingestion, zero-copy, and MuleSoft APIs [83][84][85] - It supports natural language descriptions for agent creation, enabling users to define agent behavior and data usage with minimal coding [75] - Agentforce's Sales Agent feature automates tasks like lead nurturing and sales coaching, leveraging CRM data for personalized interactions [79][80] Future Outlook - Agentforce is positioned to become a significant growth driver for Salesforce, with potential enhancements from OpenAI's large models [90][91]