SAN FRANCISCO & FAENZA, Italy - Salesforce (NYSE:CRM) announced today a partnership with Visa Cash App Racing Bulls Formula 1 Team to deploy AI technology for fan engagement and team operations.
The collaboration will implement Salesforce’s Agentforce 360 platform and Slack to connect the team’s global operations and manage fan community interactions, according to a press release statement.
VCARB will install what it calls the Salesforce Intelligence Centre in its garage, featuring Tableau dashboards displaying track data and performance metrics. The system includes TORO, an AI agent that generates data visualizations. The installation will be visible to fans and VIP guests.
The team plans to launch a Slack-based fan community for race weekend content and collaboration. VCARB also intends to use Agentforce 360 for VIP hospitality services at the Paddock Club.
"Partnering with Salesforce allows us to bring together AI, data, and real-time insights in ways that enhance every aspect of the fan experience, from the garage to our global community," said Peter Bayer, CEO at Visa Cash App Racing Bulls.
Patrick Stokes, CMO at Salesforce, stated that VCARB is using the platform to integrate data, agents, and teams for fan engagement.
Visa Cash App Racing Bulls has competed in Formula 1 since 2006 and operates as a Red Bull-owned team based in Faenza, Italy and Milton Keynes, United Kingdom. The team is powered by Red Bull Ford Powertrains and also competes in the F1 Academy series.While Salesforce stock has declined 42% year-to-date and trades near its 52-week low, InvestingPro analysis suggests the company is significantly undervalued, appearing on the platform’s Most Undervalued list. Investors can access 12 additional ProTips and comprehensive analysis through the company’s detailed Pro Research Report.
In other recent news, Salesforce has made headlines with its announcement of a $3.6 billion all-cash acquisition of Fin, a customer support software provider. This strategic move is expected to bolster Salesforce’s capabilities in AI, particularly within its customer service functions. Analysts from Jefferies have reiterated a Buy rating, highlighting that the acquisition will accelerate AI adoption across Salesforce’s existing customer base. Similarly, Canaccord Genuity and Stifel have maintained their Buy ratings, with Canaccord emphasizing the potential for AI to replace human labor in enterprise functions and Stifel noting Fin’s strong performance with over 30,000 customers.
Additionally, Monness, Crespi, Hardt upgraded Salesforce’s stock rating to Buy, citing the company’s compelling valuation after a significant decline in its stock price. Meanwhile, UBS has maintained a Neutral rating, suggesting a cautious stance despite the acquisition. These developments indicate a mixed but generally positive outlook from analysts regarding Salesforce’s strategic direction and its impact on AI integration.
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