BELLEVUE, Wash.--(BUSINESS WIRE)--Jul 26, 2023--
Smartsheet (NYSE:SMAR), the enterprise work management platform, today unveiled a suite of new capabilities that apply generative AI (GenAI) to Smartsheet’s secure, scalable platform to help enterprises tackle their mission-critical work more strategically and efficiently. The new features are now available to select customers in private beta.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230726904707/en/
Smartsheet’s new GenAI features securely deliver data visualizations, help build project and portfolio management solutions, and generate formulas to drive automation in response to simple natural language questions. (Graphic: Business Wire)
As the leader in enterprise work management, Smartsheet is integrating its new GenAI features across its platform to improve how enterprises plan, do, and scale their work. By connecting large language models (LLMs) to customers’ private business data, Smartsheet can securely deliver insights and data visualizations and help build project and portfolio management solutions in response to simple natural language questions.
Smartsheet optimizes its platform to enable our enterprise customers to meet their security and governance needs now and into the future, and it is taking the same approach when applying GenAI. Customers own their information, and that information is never available for other customers to see or use, nor will it be available as training data to underlying LLMs. As Smartsheet continues to apply GenAI to its platform, it will build in ways to ensure customers understand the recommendations and insights AI provides so they can confidently take action without any additional work on their end.
“We believe GenAI will dramatically–and positively–impact how work gets done, from planning to execution to scaling,” said Mark Mader, Smartsheet CEO. “Our platform is inherently flexible so it can adapt to how our customers want to work. As we apply powerful GenAI capabilities across the Smartsheet platform, we’re focused on maintaining customer trust through accurate and actionable insights and recommendations.”
From solving real business challenges faster to quickly finding new insights to inform critical business decisions to scaling work across an entire organization, Smartsheet is unleashing the power of its platform with GenAI to deliver even greater value for customers.
- Actionable insights in seconds: The new insights feature connects LLMs with customers’ private business data in Smartsheet to deliver sheet-level insights and data visualizations in seconds, while applying a comprehensive approach to security, compliance, and privacy so their data always stays secure. New AI insights synthesize data into helpful insights and visual charts via simple conversational prompts like, “Which programs were over budget last month by department?” Initially, customers can tap into insights about an individual sheet; in the future, insights will be derived from data across thousands of active projects and data stores, unlocking new portfolio-level insights.
Smartsheet has data store capabilities designed to house millions of rows so customers can leverage their large external datasets from other platforms like ERPs and CRMs within the Smartsheet platform. This creates a more connected work environment and the potential for rich new insights into a customer’s business.
- Get answers fast–in the context of your work: Need help building, configuring, or extending a solution? The new AI-powered help assistant will enable customers to get a customized response based on where they are in the context of their work. The help assistant provides natural language responses based on the platform’s help, online Community, and supplemental materials. It can also prompt users on how to get started with different features based on where they are in Smartsheet and what they’ve been working on, helping anyone take their Smartsheet solution to the next level.
- Accelerate productivity: Smartsheet helps enterprises transform how work gets done across their organization. Smartsheet customers will now be able to tap into GenAI to quickly build sophisticated solutions that fit their unique needs.
The new AI solution builder will quickly find and personalize the right template so customers can get started building sophisticated solutions in seconds. The AI help assistant will also generate formulas based on a simple description of what information a user wants. Formulas drive processes and automation in Smartsheet, but they take time to master. With this new feature, anyone will be able to generate advanced formulas to power their work at scale. Additionally, users will be able to effortlessly generate video captions and image descriptions while easily manipulating images for quick editing in Brandfolder by Smartsheet, streamlining their content management process and saving hours of work.
"There has been tremendous investment in generative AI, but especially in the collaborative work management space," according to Wayne Kurtzman, Research VP for social and collaboration at IDC. "Smartsheet’s generative AI capabilities align with the market need to use generative AI with a wide array of business data to create new forms of efficiencies, productivity, and alignment across an enterprise that were previously not possible."
“I am very impressed by capabilities demonstrated by the Smartsheet GenAI features, and would be excited to use these in my everyday work at Vertiv,” said Joshua Schnack, VP of Program Management and Business Initiatives at Vertiv. “Based on what I’ve seen so far, these new AI features are powerful and could provide unique value to my Smartsheet experience. I expect that these upleveled capabilities would give me and my whole organization more confidence and insights that will help us make better decisions, more quickly.”
The new GenAI features announced today are only the latest in AI at Smartsheet. The platform’s first AI innovation came over five years ago, and AI fuels experiences across Smartsheet today, like building workflows without writing code and tagging images behind the scenes.
Committed to Developing AI Responsibly
The Smartsheet mission is to empower anyone to drive meaningful change. Integral to that mission is the commitment to developing AI responsibly and ensuring Smartsheet GenAI capabilities are people-centric, fair, trustworthy, and understandable.
Smartsheet customer data will not be commingled, and no customer data will be included in a training data set used by third-party AI model providers. Smartsheet also performs due diligence to ensure the AI model providers it partners with have comprehensive data privacy and security standards that align with its AI principles. Additionally, Smartsheet is committed to ensuring its AI recommendations and insights are easily understood. In the future, customers will be able to ask Smartsheet questions like, “Why did you make that recommendation?” or “How did you reach that conclusion?”
To learn more about how Smartsheet is applying GenAI throughout its platform:
- Register to watch Putting AI to Work: What’s Next for Smartsheet at 10am PT today, July 26th.
- Register to attend our annual ENGAGE conference, September 19–21, to hear the latest on AI at Smartsheet, see live demos, and more.
About Smartsheet
Smartsheet (NYSE: SMAR) is the enterprise work management platform. By aligning people and technology so organizations can move faster and drive innovation, Smartsheet enables its millions of users to achieve more. Visit www.smartsheet.com to learn more.
Forward-Looking Statements
This press release contains “forward-looking” statements that are based on our management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include, but are not limited to, statements about Smartsheet’s expectations regarding possible or assumed business strategies, potential growth and innovation opportunities, new products, and potential market opportunities.
Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “believe,” “continue,” “could,” “potential,” “remain,” “will,” “would” or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: our ability to achieve future growth and sustain our growth rate, our ability to attract and retain talent, our ability to attract and retain customers (including government customers) and increase sales to our customers, our ability to develop and release new products and services and to scale our platform, our ability to increase adoption of our platform through our self-service model, our ability to maintain and grow our relationships with channel and strategic partners, the highly competitive and rapidly evolving market in which we participate, our ability to identify targets for, execute on, or realize the benefits of, potential acquisitions, and our international expansion strategies. Further information on risks that could cause actual results to differ materially from forecasted results is included in our filings with the U.S. Securities and Exchange Commission (SEC), including our Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2023 filed with the SEC on June 8, 2023. Any forward-looking statements contained in this press release are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230726904707/en/
CONTACT: PR Contact
Chrissy Vaughn
pr@smartsheet.com
KEYWORD: NEW ZEALAND AUSTRALIA NORTH AMERICA EUROPE UNITED STATES IRELAND UNITED KINGDOM AUSTRALIA/OCEANIA WASHINGTON
INDUSTRY KEYWORD: SECURITY DATA MANAGEMENT TECHNOLOGY ARTIFICIAL INTELLIGENCE SOFTWARE
SOURCE: Smartsheet
Copyright Business Wire 2023.
PUB: 07/26/2023 11:00 AM/DISC: 07/26/2023 10:56 AM
http://www.businesswire.com/news/home/20230726904707/en
