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Jul 26, 20246 mins
Enterprise ApplicationsITSMServiceNow
Here’s what you need to know about the cloud-based enterprise service management vendor’s latest product and company news.
ServiceNow is an enterprise software and workplace management orchestration vendor based in Santa Clara, Calif. Its cloud-based enterprise service management (ESM) platform, Now, helps companies automate workflows across the enterprise, including those involved in IT service management (ITSM), IT operations management, IT asset management, and HR service delivery, among other domains.
AI — generative AI in particular — has increasingly become a focus of late for ServiceNow, which has a market cap of $173 billion, making it the 26th largest technology vendor in the world.
Here is the latest ServiceNow news and analysis:
ServiceNow embroiled in DOJ probe of government contract award
July 25, 2024: ServiceNow has reported potential compliance issues to the US Department of Justice “related to one of its government contracts” as well as the hiring of the then-CIO of the US Army to be its head of global public sector, the company said in regulatory filings on Wednesday. The DOJ is looking into the matter.
ServiceNow 2Q24 results position genAI as ‘tailwind’
July 24, 2024: The cloud-based ESM vendor announced 22% year-over-year revenue growth, based on $2.54 billion in software subscriptions for the quarter, and singled out net-new account contract value (NNACV) for Now Assist, its generative AI platform, as having doubled quarter over quarter, overachieving expectations
IDC MarketScape: ServiceNow among cloud management automation leaders
June 12, 2024: Research firm IDC has released “IDC MarketScape: Worldwide Multicloud and Hybrid Cloud Management with Automation 2024 Vendor Assessment,” which ranks ServiceNow among its leaders. “Recent investments in generative AI and partnerships with NVIDIA will keep ServiceNow at the forefront of innovation for years to come,” IDC wrote in its report.
IDC Market Note: Service must prove itself in ALM push
May 31, 2024: ServiceNow’s recent entry into the asset lifecycle management (ALM) market is part of an ambitious growth strategy that pits it against entrenched competitors, notes IDC’s Brian O’Rourke. Here, the company’s genAI push could be an significant asset, but “whether that is enough to ensure success in a competitive market … remains to be seen.”
IDC Link: ServiceNow 1Q24 results announce ‘AI platform’ era
May 6, 2024: ServiceNow’s 1Q24 earnings call introduced the term “AI platform” as a positioning statement, notes IDCs Stephen Elliot, who sees compelling possibilities for the company and customers alike. “Early indications and discussions from Now Assist customers highlight positive cost savings and staff productivity,” he writes.
Generative AI takes center stage in latest ServiceNow release
March 20, 2024: ServiceNow’s latest platform release, dubbed Washington DC, moves the cloud-based IT management and operations software company sharply in the direction of generative AI, with new features designed to help companies working with that technology.
IDC Market Note: ServiceNow entwines partnerships with genAI development
March 13, 2024: IDC’s Snow Tempest examines ServiceNow’s latest announcements, which reveal an intertwined strategy of generative AI development and industry partnerships aimed at targeted industries and use cases. “These partnerships offer ServiceNow a strategic adoption opportunity for organizations considering work with generative AI.”
ServiceNow adds gen AI to more workflows, including chatbot creation
November 16, 2023: ServiceNow is rolling out another wave of generative AI additions to facilitate workflow management on its Now Platform. The update adds gen AI capabilities for field service workers, chatbot creators, and developers, among others.
How ServiceNow gets the most out of generative AI
November 15, 2023: As the company adopts generative AI internally, ServiceNow CIO Chris Bedi is measuring everything — and thinks you should too. “One reason we’re releasing early is because we’re ready,” says Bedi. “We’ve been working on large language models for years.”
ServiceNow boasts industry-first gen AI general availability with Vancouver release of Now
September 20, 2023: With the addition of Now Assist to the Vancouver release of its software platform, ServiceNow is embedding gen AI across the three major workflows it supports. Now Assist for IT Service Management, Customer Service Management, and HR Service Delivery add new text creation and summarization features and an interactive chatbot interface to help workers get to relevant information more quickly.
ServiceNow adds new features to its Now Assist generative AI assistant
July 26, 2023: ServiceNow is adding new features to its Now Assist generative AI assistant that comes bundled with the company’s Now platform, designed to help organizations automate workflows. The new capabilities of Now Assist, which include case summarization and text-to-code, are compatible with all workflows and are designed to drive productivity and efficiency for organizations, the company said.
ServiceNow offers virtual agent to assist with generative AI
June 13, 2023: ServiceNow is making generative AI accessible from more areas of its low-code development platform, putting it front and center in the chatbots enterprises are starting to use to interact with their ServiceNow applications.
ServiceNow, Nvidia to bring generative AI to enterprise workflows
May 17, 2023: ServiceNow and Nvidia are collaborating to build generative AI applications for various enterprise functions aimed at optimizing business processes and workflows.
ServiceNow continues workflow platform expansion with Utah release
March 22, 2023: With its Utah release, ServiceNow is expanding the reach of its Now Platform for workflow automation into new areas, and enhancing its performance in others.
ServiceNow posts Q4 growth as enterprise automation remains strong
January 25, 2023: Enterprise software and workplace management orchestrator ServiceNow announced rosy revenue numbers in its Q4 2022 earnings call Wednesday evening, saying that total revenues topped $1.9 billion, which represents a 20% year-on-year increase.
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