- Zoom reveals rebrand, says it has achieved what it wanted in terms of its video conferencing platform
- The company is now going all-in on its Workplace office software
- Quarterly revenue growth is slowing down
Zoom has rebranded itself in a major shift away from the video conferencing solution that we’ve all come to know and “love” – and the company now wants you to know it as an “AI-first work platform for human connection.”
In a blog post entitled “Allow us to reintroduce ourselves,” CEO Eric Yuan recalls the founding of the company in 2011, when its goal was to become the “best video conferencing solution on the market,” a target it certainly delivered on during the pandemic when the rise of video calling allowed it to become synonymous with both personal and workplace communications.
The so-called “Zoom 2.0” now wants to be so much more than just a video conferencing solution, but don’t worry, video calls aren’t going anywhere just yet.
Zoom 2.0
Speaking about advances in artificial intelligence, Yuan now describes Zoom as an “AI-first company,” and key to this is AI Companion which is integrated throughout the Zoom Workplace portfolio.
In a bold statement, Yuan proposed: “Over time, we believe these capabilities will translate into a fully customizable digital twin equipped with your institutional knowledge, freeing up a whole day’s worth of work and allowing you to work just four days per week.”
Previously a 48-hour affair, the CEO recalls Henry Ford’s work in automation to bring the typical working week down to 40 hours. He now wants to bring back another eight hours to everyone’s lives.
“Zoom is now about so much more than video meetings,” said Yuan, who has removed the ‘Video’ from the company’s formal name – ‘Zoom Video Communications, Inc.’ The company hasn’t shared details of where it’s heading in terms of new product launches, but the newly added Zoom Docs and the upgraded Zoom AI Companion 2.0 suggest it could be looking on to take more established giants like Microsoft and Google.
The firm also announced that third-quarter revenue stood at $1.177 billion, marking a 3.6% year-over-year growth. Fourth-quarter figures aren’t predicted to be so healthy, with anticipated revenue of between $1.175 billion and $1.180 billion.