ServiceNow (NYSE: NOW), the AI platform for business transformation, today released its most comprehensive set of new AI innovations with the Now Platform Xanadu release. The Xanadu release features hundreds of additional, new AI capabilities to boost customer agility, enhance productivity, and improve employee experiences. It also expands the generative AI (GenAI) portfolio to new mission-critical enterprise functions including Security Operations and Sourcing & Procurement Operations. In addition, the previously announced Now Assist integration with Microsoft Copilot for Microsoft 365 is now generally available, meeting employees where they work and collaborate by offering a holistic, connected experience.
According to Gartner®, $3 trillion will be spent on AI between 2023 and 2027, and by 2027, GenAI will represent 36% of total AI Spending.1 As CEOs look for new vectors of growth, simplification, and digitization, ServiceNow is already delivering differentiated GenAI capabilities that will help streamline operations, maximize productivity, and deliver world-class experiences to customers such as American Honda Motor Company, Bayer, Boomi, Eaton, and Olam Global Agri. In the company's second quarter 2024 financial results, Now Assist continued its run as ServiceNow's fastest growing new product set in company history, doubling net-new annual contract value (NNACV) quarter-over-quarter.
"Our customers are hungry to put AI to work now and they want more from their GenAI deployments?more productivity, more personalization, more value," said Jon Sigler, senior vice president, Platform and AI at ServiceNow. "That's why we are laser-focused on delivering a complete, end-to-end platform experience for our customers. The Xanadu release marks a significant step forward for our GenAI roadmap, empowering enterprises to quickly harness the potential of GenAI and drive unprecedented business outcomes without hassle."
Expanding Now Assist to new mission-critical enterprise functions
With the Xanadu release, ServiceNow is significantly expanding the breadth and depth of its GenAI offerings, bringing the power of Now Assist to more areas of the enterprise with innovations that multiply impact. This includes addressing critical enterprise needs like security and threat management, where expediency can be the difference in safeguarding IT environments. New Now Assist for Security Operations (SecOps) is tailor-made to help enterprises accelerate security incident response (SIR) workflows and proactively manage threat exposure in real time.
ServiceNow is also bringing Now Assist to its Finance and Supply Chain Workflows, available first for Sourcing and Procurement Operations, with more GenAI capabilities to follow. According to Gartner®, "GenAI can already enhance many different workflows in procurement and 73% of procurement leaders at the start of the year expected to adopt the technology by the end 2024."2 Similarly, ServiceNow sees immense opportunity for intelligent automation to unify complicated and fragmented processes. Built to simplify these processes, customers can use Now Assist to help expedite procurement requests, improve compliance, gain better control of enterprise spend, and drive tangible business value.
Boosting customer agility, enhancing productivity, and improving employee experiences
ServiceNow continues to put customer agility at the forefront with Now Assist Skill Kit, a new feature that unlocks the development and deployment of custom GenAI skills and prompts. Additionally, data visualization generation, chat and email reply generation, change summarization, and LLM-based proactive prompts are among the hundreds of new AI innovations in the Xanadu release. These updates help improve IT productivity, break down complexities, and enable easier internal collaboration, helping employees work better and faster.
Extending the possibilities of Now Assist through partnerships
During Knowledge 2024, ServiceNow previewed an expanded partnership with Microsoft to integrate the intelligence of ServiceNow's AI powered workflows with Copilot for Microsoft 365. With the Xanadu release, ServiceNow is officially bringing that functionality to customers, enabling new levels of employee productivity and connected experiences.
Accelerating AI and data platform innovation for the GenAI era
The Xanadu release cements ServiceNow's GenAI leadership with one of the most ambitious roadmaps in enterprise software today. With GenAI embedded directly into the Now Platform, customers get out-of-the-box intelligence with ServiceNow's multimodal model?Now AI?built and optimized to deliver actionable AI to every corner of the enterprise. Earlier this year, ServiceNow also launched Bring-Your-Own GenAI model, which allows customers to tailor their AI?driven transformation to their unique needs. This open approach gives customers the choice and flexibility to use Now AI, their own LLMs, or general purpose LLMs as they create more intuitive, efficient, and seamless experiences on the ServiceNow platform.
In addition to extending the depth of its GenAI capabilities with the Xanadu release, ServiceNow announced new data enhancements to the Now Platform, unlocking value for customers with ultra-scale and performance. New capabilities including the premium RaptorDB high-performance database will deliver improvements in data processing, enabling customers to better execute mission-critical workflows across industries.
ServiceNow continues its strong commitment to secure, responsible, and ethical AI?furthering AI innovation that augments human capabilities and contributes positively to the world. Internal processes and guardrails within the Now Platform bolster security and reliability. This includes data encryption to strengthen data confidentiality, secure communication channels, pre-processing analysis, ongoing vulnerability scanning, accuracy-checking, post-processing and response filtering, safety detection, and policy compliance. ServiceNow also partners with organizations like NVIDIA, Hugging Face, IBM, and others to foster an open, transparent, and responsible AI ecosystem. For example, it is a founding member of the AI Alliance, a group comprising academia, research, science, and industry that is committed to advancing open and responsible AI. ServiceNow has also integrated with NVIDIA NIM to optimize the quality and performance of its Now Assist generative AI services for faster and more accurate responses, increasing the productivity for employees, customers, and developers.
What our customers and partners are saying:
Eaton
"Technology is fundamental to our success in helping deliver value for our customers so they can tackle some of the most critical power management initiatives across the world," said Sunil Tulyani, service management platform leader at Eaton. "For the last century, Eaton has been dedicated to helping our customers manage power more reliably, efficiently, safely, and sustainably. In the new era of AI, our ability to drive efficiencies and solve challenges with technology has never been greater. We look forward to leveraging the power of GenAI, with the help of ServiceNow Now Assist, to increase productivity across our entire organization and to make it easier for teams to get the answers they need when they need them."
Boomi
"Our core mission at Boomi is to simplify the complexity of connecting applications and business processes for our customers," said Arlen Shenkman, president at Boomi. "Layering GenAI across our customer experiences is the next step in reducing complexity even further, speeding up time to resolution and delivering a fantastic service experience. With the Now Platform and ServiceNow's AI?powered TPSM offering, we're working to transform customer support and expand self?service. Now Assist for CSM will further help us ensure that our customers receive a simplified, efficient customer experience."
Olam Global Agri
"Olam's goal is to adopt AI to bring new value to our organization," said Shivram Ramakrishnan, CDIO & senior vice president at Olam Global Agri. "With ServiceNow's GenAI solutions, we've developed a cash flow model to predict when a customer will pay us so we can better manage our cash position. We're using GenAI in our procurement process to understand the various quotes provided by our suppliers, and to be able to generate scripts for our buyers in their negotiations. We're excited for the Now Assist for F&SCW solution as part of the Xanadu release, a GenAI solution built specifically for finance and procurement teams, which will help unlock new efficiency for employees and create a more resilient supply chain."
Availability
Additional Information
1 |
Gartner, IT Spending Forecast, 3Q23 Update: The Impact of GenAI, By John Lovelock, Chrissy Healey, Errol Rasit, Alys Woodward, 17 October 2023. https://webinar.gartner.com/540525/agenda/session/1223155?login=ML |
2 |
Gartner Press Release, "Gartner Says Generative AI for Procurement Has Hit Peak of Inflated Expectations," July 25, 2024. https://www.gartner.com/en/newsroom/press-releases/2024-07-25-gartner-says-generative-ai-for-procurement-has-hit-peak-of-inflated-expectations |
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. |
About ServiceNow
ServiceNow (NYSE: NOW) is putting AI to work for people. We move with the pace of innovation to help customers transform organizations across every industry while upholding a trustworthy, human centered approach to deploying our products and services at scale. Our AI platform for business transformation connects people, processes, data, and devices to increase productivity and maximize business outcomes. For more information, visit: www.servicenow.com.
Forward Looking Statements
This press release contains "forward looking statements" about the expectations, beliefs, plans, and intentions relating to its innovations announced with the Now Platform Xanadu release. Such statements include statements regarding future product capabilities and offerings and expected benefits to ServiceNow. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, ServiceNow's results could differ materially from the results expressed or implied by the forward-looking statements made. ServiceNow undertakes no obligation, and does not intend, to update the forward-looking statements. Factors that may cause actual results to differ materially from those in any forward-looking statements include: (i) delays and unexpected difficulties and expenses in executing the product capabilities and offerings, (ii) changes in the regulatory landscape related to AI and (iii) uncertainty as to whether sales will justify the investments in the product capabilities and offerings. Further information on factors that could affect ServiceNow's financial and other results is included in the filings ServiceNow makes with the Securities and Exchange Commission from time to time.
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