Zoom’s stock has tanked more than 40% in the last 12 months. Plenty of other meeting-related tools have been launching AI-powered summarization features in different formats. Meanwhile, the transcription tool Otter launched the OtterPilot assistant that automatically summarizes meetings. Recently, Slack announced a ChatGPT bot in collaboration with OpenAI. On the other hand, it is fighting a battle to be a relevant workplace tool beyond meetings that rivals Slack, Calendly, and Otter. Both of which have announced new generative AI features for workplaces. On one hand, it is introducing generative AI features to create emails, meeting agendas, and whiteboards to fight the onslaught of Microsoft and Google. Zoom seems to be fighting many battles here. This feature is similar to the Slack Huddles feature, which was introduced in 2021 to have a quick voice or video-based real-time conversations. Zoom also introduced virtual coworking spaces called Zoom Huddles where people can drop in or drop out at any time. It launched Zoom Scheduler in public beta - a Calendly-like tool to share availability to book appointments. The company introduced some non-AI-focused products as well. Last year, the company also launched Zoom IQ for Sales aiming to provide insights from video calls for sales teams. Until now, Zoom IQ had the ability to record highlights, divide a meeting into chapters, and list action items automatically. The assistant can also summarize the chat threads in the team chat. Once the meeting ends, the bot will post a summary to Zoom’s team chat feature. Zoom is expanding its Zoom IQ assistant to provide AI-powered summaries and “ask further questions” even when you join a meeting midway.
These days it’s difficult to spend a few hours without a company announcing generative AI features. Companies could use these services as an alternative to Microsoft Exchange and Google Workspace. There are also hosted email and calendar services on offer with end-to-end encryption protection and custom domains for paid users. The video conferencing company started testing these tools last year in a big explore area beyond meetings. To that end, Zoom is opening up its email and calendar clients to everyone. The company wants you to shift more of your work tasks to its tools. These features include AI-powered meeting summaries, prompt-based email responses, and whiteboard generation along with video “Huddles” and a meeting scheduler. Weeks after laying off 1,300 people (or 15% of the staff), Zoom is introducing new features to compete with numerous companies including Slack, Calendly, Google, and Microsoft.
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