{"id":389532,"date":"2020-11-30T08:33:35","date_gmt":"2020-11-30T13:33:35","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=389532"},"modified":"2020-11-30T08:33:35","modified_gmt":"2020-11-30T13:33:35","slug":"servicenow-to-acquire-ai-pioneer-element-ai","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/servicenow-to-acquire-ai-pioneer-element-ai\/","title":{"rendered":"ServiceNow to Acquire AI Pioneer Element AI"},"content":{"rendered":"

<\/p>\n

ServiceNow to Acquire AI Pioneer Element AI<\/b><\/p>\n

Element AI significantly enhances ServiceNow\u2019s commitment to building the world\u2019s most intelligent workflow platform, making work, work better for people <\/i><\/p>\n

ServiceNow to establish an AI Innovation Hub in Canada<\/i><\/p>\n

Element AI Co-founder, Dr. Yoshua Bengio, winner of the 2018 Turing Award, will serve as a technical advisor for ServiceNow<\/i><\/p>\n

SANTA CLARA, Calif.–(BUSINESS WIRE<\/a>)–
\nServiceNow (NYSE: NOW) today announced it has signed an agreement to acquire Element AI, a leading artificial intelligence (AI) company with deep AI capabilities and some of the world\u2019s brightest AI minds. Element AI will significantly enhance ServiceNow\u2019s commitment to build the world\u2019s most intelligent workflow platform, enabling employees to work smarter and faster, streamline business decisions, and unlock new levels of productivity.\n<\/p>\n

\nA pioneer in the AI industry, Element AI has world-class scientists and practitioners who will bring expertise in applying modern AI to text and language, chat, images, search, question response, and summarization and will accelerate AI innovation natively in the Now Platform. Element AI Co-founder and Lead Fellow, Dr. Yoshua Bengio, a winner of the 2018 ACM A.M. Turing Award for his pioneering contributions to modern AI, will serve as a technical advisor for ServiceNow.\n<\/p>\n

\nWith the acquisition of Element AI, ServiceNow will create an AI Innovation Hub in Canada to accelerate customer-focused AI innovation in the Now Platform. The new investment deepens ServiceNow\u2019s commitment to the Canadian market, which has long been a leader in AI research and represents one of the world\u2019s most significant locations for AI talent. ServiceNow\u2019s AI Innovation Hub in Canada follows similar investments by ServiceNow to create technology development centers in Chicago, Hyderabad, Kirkland, Wash., San Diego, and Silicon Valley.\n<\/p>\n

\n\u201cAI technology is evolving rapidly as companies race to digitally transform 20th<\/sup> century processes and business models,\u201d said ServiceNow Chief AI Officer Vijay Narayanan. \u201cServiceNow is leading this once-in-a-generation opportunity to make work, work better for people. With Element AI\u2019s powerful capabilities and world class talent, ServiceNow will empower employees and customers to focus on areas where only humans excel \u2013 creative thinking, customer interactions, and unpredictable work. That\u2019s a smarter way to workflow.\u201d\n<\/p>\n

\nServiceNow has seen strong demand for its AI-powered products such as IT Service Management Pro, Customer Service Management Pro, and HR Service Delivery Pro. With practical, purpose-built AI and analytics capabilities embedded into its Now Platform and workflow products, ServiceNow enables enterprises to surface and summarize relevant information, understand content and conversations, make predictions and recommendations, take optimal actions, and automate repetitive tasks.\n<\/p>\n

\n\u201cElement AI\u2019s vision has always been to redefine how companies use AI to help people work smarter,\u201d said Element AI Founder and CEO, Jean-Francois Gagn\u00e9. \u201cServiceNow is leading the workflow revolution and we are inspired by its purpose to make the world of work, work better for people. ServiceNow is the clear partner for us to apply our talent and technology to the most significant challenges facing the enterprise today.\u201d\n<\/p>\n

\nThe acquisition of Element AI is ServiceNow\u2019s latest strategic investment to accelerate AI innovation in the Now Platform. In March, ServiceNow hired Narayanan and launched Now Intelligence<\/a>, a set of powerful AI capabilities to help customers scale insight to action. Element AI is ServiceNow\u2019s fourth AI acquisition in 2020, following Loom Systems<\/a>, Passage AI<\/a>, and Sweagle<\/a>.\n<\/p>\n

\nThe Element AI team are leaders in the AI community and have pioneered modern AI over the last decade. Element AI was founded in 2016 by CEO Jean-Francois Gagn\u00e9, Anne Martel, Nicolas Chapados, Jean-Sebastien Cournoyer, Yoshua Bengio, and Philippe Beaudoin.\n<\/p>\n

\nServiceNow expects to complete the acquisition in early 2021.\n<\/p>\n

Use of Forward-Looking Statements<\/b><\/p>\n

\nThis press release contains \u201cforward\u2013looking statements\u201d about the expectations, beliefs, plans, intentions and strategies relating to ServiceNow\u2019s acquisition of Element AI and Canadian market. Such forward\u2013looking statements include statements regarding future product capabilities and offerings and AI Innovation Hub and expected benefits to ServiceNow. Forward\u2011looking 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\u2011looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward\u2011looking statements we make. We undertake no obligation, and do not intend, to update the forward\u2011looking statements. Factors that may cause actual results to differ materially from those in any forward\u2011looking statements include, without limitation, the inability to assimilate or integrate Element AI\u2019s technology into our platform; the inability to retain key employees of Element AI after the transaction closes; unanticipated expenses related to Element AI\u2019s acquired technology; potential adverse tax consequences; disruption to our business and diversion of management attention and other resources; and potential unknown liabilities associated with Element AI\u2019s business. Further information on factors that could affect our financial and other results is included in the filings we make with the Securities and Exchange Commission from time to time.\n<\/p>\n

About ServiceNow<\/b><\/p>\n

\nServiceNow (NYSE: NOW) is making the world of work, work better for people. Our cloud-based platform and solutions deliver digital workflows that create great experiences and unlock productivity for employees and the enterprise. For more information, visit: www.servicenow.com<\/a>.\n<\/p>\n

\n\u00a9 2020 ServiceNow, Inc. All rights reserved. ServiceNow, the ServiceNow logo, Now, and other ServiceNow marks are trademarks and\/or registered trademarks of ServiceNow, Inc. in the United States and\/or other countries. Other company names, product names, and logos may be trademarks of the respective companies with which they are associated.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201130005560\/en\/<\/a><\/span><\/p>\n

\nMedia Relations
\n
Sara Day
\n
(650) 336-3123
\n
press@servicenow.com<\/a><\/p>\n

\nInvestor Relations
\n
Darren Yip
\n
(925) 388-7205
\n
ir@servicenow.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Canada California<\/p>\n

INDUSTRY KEYWORDS:<\/b> Software Technology Data Management<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

ServiceNow to Acquire AI Pioneer Element AI Element AI significantly enhances ServiceNow\u2019s commitment to building the world\u2019s most intelligent workflow platform, making work, work better for people ServiceNow to establish an AI Innovation Hub in Canada Element AI Co-founder, Dr. Yoshua Bengio, winner of the 2018 Turing Award, will serve as a technical advisor for ServiceNow SANTA CLARA, Calif.–(BUSINESS WIRE)– ServiceNow (NYSE: NOW) today announced it has signed an agreement to acquire Element AI, a leading artificial intelligence (AI) company with deep AI capabilities and some of the world\u2019s brightest AI minds. Element AI will significantly enhance ServiceNow\u2019s commitment to build the world\u2019s most intelligent workflow platform, enabling employees to work smarter and faster, streamline business decisions, and unlock new … <\/p>\n

Continue reading “ServiceNow to Acquire AI Pioneer Element AI”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-389532","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nServiceNow to Acquire AI Pioneer Element AI - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/servicenow-to-acquire-ai-pioneer-element-ai\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ServiceNow to Acquire AI Pioneer Element AI - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"ServiceNow to Acquire AI Pioneer Element AI Element AI significantly enhances ServiceNow\u2019s commitment to building the world\u2019s most intelligent workflow platform, making work, work better for people ServiceNow to establish an AI Innovation Hub in Canada Element AI Co-founder, Dr. Yoshua Bengio, winner of the 2018 Turing Award, will serve as a technical advisor for ServiceNow SANTA CLARA, Calif.–(BUSINESS WIRE)– ServiceNow (NYSE: NOW) today announced it has signed an agreement to acquire Element AI, a leading artificial intelligence (AI) company with deep AI capabilities and some of the world\u2019s brightest AI minds. 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