Zoom Communications Inc. abandons “Video Communications” in its name and refocuses on the AI platform. The company launches new tools to compete with Google and Microsoft in the field of corporate communications.
Zoom has announced its new course in an attempt to compete with the big tech companies.
Reported by UNN with reference to The Verge.
Zoom Communications Inc. has announced a name change, dropping "Video Communications" to position itself as an AI-focused workplace platform.
In a company blog post, Zoom Communications CEO Eric Yuan writes that Zoom is now "an AI-powered work platform for human communication" that provides "modern hybrid work solutions." The company no longer wants to be known for video, as employees have returned to offices and larger and better-equipped competitors like Google, Microsoft, and Slack offer video as a feature of office suites that companies already pay for.
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To adapt, Zoom has launched more comprehensive communication tools, including Zoom Team Chat and a new Zoom Workplace solution that competes with productivity apps from Google and Microsoft, as well as an enterprise email client.
For reference
By the end of 2020, Zoom's annual revenue quadrupled, but by early 2022, forecasts changed as Wedbush analyst Dan Ives predicted that "users working from home… Netflix, Facebook, Zoom, Peloton, will see a sharp decline in growth".
Zoom has hit back by launching more comprehensive communication tools, starting with Zoom Team Chat. Now, Zoom offers its own full-featured Zoom Workplace solution with Google and Microsoft-style office apps, an enterprise email client, and more.
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