Eric Yuan, the founder and CEO of Zoom Video Communications Inc., is bullish on hybrid work. He’s convinced that new breakthroughs in artificial intelligence (AI) will quickly make possible a much shorter, more productive workweek. Yuan envisions a world where AI assistants empower employees to complete their tasks with greater efficiency and effectiveness. This would allow for shorter workweeks without a loss in productivity.
On a recent earnings call, Yuan presented a new AI avatar. This avatar helped to show what the technology can do, as well as the amazing ways it can improve communication. He emphasized that this innovation could push the “boundaries of communication” and transform the way people collaborate in professional environments.
Zoom recorded a net income of $7.6 million for its fiscal year ending last January. Their growth is great—no, amazing—their revenue hit a stupendous $331 million. The firm’s growth has been nothing short of meteoric. It’s currently worth nine times that $1 billion valuation it hit after a funding round two years back. This adoption of Zoom indicates the greater need for services that Zoom provides, especially with the increase of remote work.
Yuan went on to explain that AI companions could be used for so much more than just video conferencing stand-ins. For example, he described a striking scene between two Fortune 100 chief executives hashing out a merger agreement on Zoom. Digital twins would allow them to coordinate and collaborate on engagement strategies ahead of time, before the public meeting even starts.
“By doing that, we do not need to work five days a week anymore, right?… Five years out, three days or four days [a week]. That’s a goal,” – Eric Yuan
The use of such technologies would fundamentally change workplace dynamics. Yuan reiterated his belief in the potential of Zoom’s technology to revolutionize how work is conducted, making multi-hour strategy meetings more efficient and streamlined.
Right now, Yuan says he spends most of his time putting out fires on different product streams. He’s hopeful that future, deeper integration of AI into Zoom’s broader ecosystem is on the way.
“Today, I need a manually focus on all those products to get work done. Eventually, AI will help,” – Eric Yuan
Since going public with its initial public offering (IPO) on April 18, 2019, Zoom hasn’t stopped innovating and expanding their offerings. Yuan at the Nasdaq MarketSite on opening bell day. This became a defining point for the firm.
