Salesforce (CRM.N) announced Thursday that it would invest $4 billion in its U.K. business over the next five years due to increasing demand for digital transformations and artificial intelligence.
The corporation said it is expanding on its 2018 five-year $2.5 billion injection.
The investment comes weeks after Microsoft president Brad Smith called a regulatory decision to block its merger with Activision Blizzard “shaken confidence” in Britain.
“Salesforce’s major investment in its U.K. business over the next five years is a ringing endorsement of our economy,” British Prime Minister Rishi Sunak said in the NYSE-listed company’s announcement.
Sunak announced plans to convene a worldwide meeting on A.I. safety in Britain later this year during his Washington visit earlier this month as nations scramble to develop standards for the groundbreaking technology.
Salesforce said it would cooperate with the government to accelerate digital transformation “in this new A.I. era.”
“A clear pro-innovation regulatory framework that compels safe and responsible use of A.I. is vital, and Salesforce is fully focused on bringing secure, trusted, enterprise-ready generative A.I. to U.K. businesses,” Salesforce UKI boss Zahra Bahrololoumi said.
In June, Salesforce blamed its dismal quarterly performance on an uncertain U.S. economy and lower financial services and I.T. industry demand.