Dash connects to major platforms and tools like Google Workspace, Microsoft Outlook, Asana, Notion, many others, and it allows users to quickly find everything from one place. With more of our work spread across 100 tabs in a browser, a common pain point for knowledge workers is that they spend too much time looking for their work and having to navigate between apps. Houston explained that Dropbox would be starting with Dash, its AI-powered universal search product that connects a company’s cloud tools, apps and content to a single search bar that searches everything. And with hundreds of billions of pieces of content already stored on Dropbox, and as a service that is trusted by hundreds of millions of users, we see ourselves as uniquely positioned to build personalized AI at scale. While there's a lot that these AI chatbots can do, there are a lot of questions these chatbot can't answer when it comes to questions about you or your content or your company, because they aren't personalized.Īnd it's clear that customers need more personalized AI that can answer questions and provide insights on their own content, their company's content, and help them find what they need at work. The key message is that LLMs offer an ability for users to receive personalized content. And seemingly overnight, we now live in a world where machines can read and write and talk to us and answer our questions in natural language. While Dropbox has been investing in AI and machine learning technology for many years, we're all witnessing an unprecedented wave of innovation around generative AI and large language models. Our company mission at Dropbox is to design a more enlightened way of working and I'm proud that we've accelerated our roadmap here with Dropbox Dash and our progress in AI, which I'll discuss in a minute. Given Dropbox’s platform is the home to huge amounts of content data, it’s unsurprising that Houston and the leadership team see opportunity with the advancement of this technology. One of the key benefits of LLMs is their ability to take in huge amounts of data, summarize it and offer suggestions for future actions. Vendors from all corners have been announcing their own advancements in LLMs, which have the potential to create efficiencies and new ways of interacting with enterprise tools. Since the release of OpenAI’s ChatGPT, Large Language Models (LLMs) have been fuelling fresh investment in the B2B software market. Houston took time during the financial analyst call to highlight that one of Dropbox’s key objectives over the coming months will be AI-powered product experiences, which he said will help customers organize their working lives. Non-GAAP net income was $174.0 million, as compared to $138.1 million for the same period last year. GAAP net income was $43.2 million, as compared to $62.0 million for the same period last year due to expenses related to the reduction in workforce in the second quarter of 2023, such as severance, benefits and other related items. Average revenue per paying user was $138.94, as compared to $133.34 for the same period last year Paying users ended at 18.04 million, as compared to 17.37 million for the same period last year. Total ARR ended at $2.500 billion, an increase of 7.2% from the same period last year Total revenue was $622.5 million, an increase of 8.7% from the same period last year. The key numbers from the quarter include: However, we are still navigating a difficult macroenvironment that continues to impact our Teams customers and pressures growth in our DocSend and Sign businesses. Houston said that Dropbox’s growth was being led by revenue performance in its FormSwift product, which was acquired by the company in 2022 and provides a library of form templates, but that the economic conditions were still impacting overall purchasing decisions. CEO Drew Houston told analysts this week that Dropbox would be releasing a series of AI products over the coming months, with a focus on responsible use, and the company’s share price was up in after hours trading. Despite warnings about tough macroeconomic conditions, content collaboration vendor Dropbox has delivered a solid Q2 2023, beating its guidance across all metrics.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |