Zoom is changing its name from Zoom Video Communications Inc. to Zoom Communications Inc. In a company blog post, Zoom Communications CEO Eric Yuan wrote that Zoom is now an “AI-powered human work platform” that offers modern hybrid work solutions. It’s a shift, albeit vague, from its 2020 heyday, when the classic Zoom Meetings product became synonymous with video conferencing and rose to prominence as companies forced employees to work from home.
Now the company no longer wants to be known for video, as employees return to the office and larger, better-equipped competitors like Google, Microsoft and Slack offer video as a feature of the Office suites that companies already pay for..
By the end of 2020, Zoom’s revenue had quadrupled year over year, but as Wedbush analyst Dan Ives puts it in early 2022 “the beneficiaries of work-from-home…Netflix, Facebook, Zoom, and Peloton will see their growth fall sharply. “Become.” For both Peloton and Zoom, the coming months and years have confirmed this.
Zoom has fought back by launching more comprehensive communications tools, starting with Zoom Team Chat. Zoom now offers its own comprehensive Zoom Workplace solution, which features Google- and Microsoft-style office productivity apps, a business email client, and more.
Yuan said in an appearance over the summer on Decoder that: Today, we all spend a lot of time making calls, attending meetings, sending emails, deleting spam, replying to text messages, and we’re all very busy all the time. How do we [use] AI? How do we use Zoom Workplace to fully automate this kind of work? That’s something that’s really important to us.
Zoom’s AI Companion 2.0, released in October with enhanced aggregation and support tools, can be transformed into a fully customizable digital twin with organizational knowledge so you can take a full day off work and only have to work four days a week.”
