Salesforce's AI-powered agent platform, Agentforce, is struggling to gain traction with clients, according to a recent note from KeyBanc Capital Markets. The analysts expressed skepticism about the product's near-term revenue impact, suggesting that customer uptake has been slower than anticipated. This assessment comes as Salesforce continues to push its AI strategy as a key growth driver.
Analyst skepticism mounts
KeyBanc analysts reported that checks with channel partners and customers indicate tepid demand for Agentforce. They noted that while interest in AI agents exists, many clients are still in the evaluation phase and have not committed to significant spending. The analysts lowered their revenue estimates for Salesforce, citing the slow ramp of the platform.
The report adds to concerns about whether Salesforce can monetize its AI investments quickly. The company has heavily marketed Agentforce as a transformative tool for automating sales and service tasks, but real-world adoption appears to be lagging behind the hype.
Broader AI monetization challenges
Salesforce is not alone in facing adoption hurdles for AI products. Across the enterprise software landscape, vendors are grappling with how to turn AI buzz into recurring revenue. KeyBanc's note suggests that Salesforce's customers are being cautious, prioritizing proven solutions over experimental AI features.
The analysts also pointed to competition from other AI agents and platforms, which may be slowing Salesforce's momentum. Without a clear differentiator, Agentforce risks becoming just another option in a crowded market.
What's next for Salesforce
Salesforce executives have expressed confidence that Agentforce will gain traction over time, but KeyBanc's bearish view underscores the challenges ahead. The company is expected to provide updates on Agentforce adoption during its next earnings call. Investors will be watching closely for signs of whether the platform can convert interest into revenue.
For now, the analyst report highlights the gap between AI promises and enterprise reality. Until customers see concrete ROI, Agentforce may struggle to become the growth engine Salesforce has envisioned.