Announces General Availability of Box AI for Enterprise Plus Customers
REDWOOD CITY, Calif.–(BUSINESS WIRE)–Box, Inc. (NYSE: BOX), the leading Content Cloud, today announced a new integration with Microsoft Azure OpenAI Service to bring its advanced large language models to Box AI. The integration of Azure OpenAI Service enables Box customers to benefit from the most advanced AI models in the world, while bringing Box and Microsoft’s enterprise-grade standards for security, privacy, and compliance to this groundbreaking technology. Box also announced that Box AI is generally available to customers on Enterprise Plus plans, starting today.
“While generative AI is still new to the enterprise, we’re already seeing significant excitement from customers who want to apply this technology to their content that is already in Box,” said Ben Kus, Chief Technology Officer at Box. “Our collaboration with Microsoft spans well over a decade, and has spurred innovation throughout previous technology shifts, including cloud and mobile computing. Now, in this new era of AI, we are expanding our collaboration again to bring AI to enterprises without compromising data security, privacy, compliance, and governance.”
Building with Azure OpenAI Service
Guided by its AI Principles, Box has built Box AI on the company’s platform-neutral framework, allowing it to connect with today’s most powerful large language models. By integrating with Azure OpenAI Service, Box is applying the most advanced intelligence models to its Content Cloud to further advance enterprise-grade AI. Microsoft and Box already help customers meet strict compliance requirements like FINRA, GxP, and FedRAMP. With today’s announcement, they will also empower organizations across highly-regulated industries to leverage AI for new use cases. For example:
- Financial services companies can extract insights from reports in Box, that include market trends, economic indicators, and historical financial data, to provide a summary of key findings that highlights projections and potential risks.
- Life Sciences organizations can obtain information from clinical trial data and expedite analysis of vast datasets for a more comprehensive and efficient understanding of trial outcomes.
- Public sector agencies can derive valuable insights from vast amounts of feedback from constituents and policy research to guide evidence-based decisions and policy development, aligning to President Biden’s guidance for use of AI.
- Insurance companies can find key information in claims reports to enhance efficiency, reduce turnaround times, and provide a smoother experience for both parties.
- Legal firms can quickly identify key terms, clauses, and relevant information within complex legal texts, to significantly reduce the time and effort required for legal research, allowing attorneys to focus on more strategic aspects of their cases.
“With generative AI innovating at a rapid pace, we are committed to providing technology that organizations of any size can rely on,” said John Montgomery, corporate vice president, AI platform, Microsoft. “We are excited to see Box leveraging the power of Microsoft Azure OpenAI Service to further enhance the Box Content Cloud. This collaboration underscores our shared commitment to providing advanced, secure, and trusted solutions for enterprises, empowering them to unlock the full potential of their content.”
Box AI is Generally Available Today
Box AI leverages the power of generative AI to bring foundational AI models to the Box Content Cloud – where more than 115,000 enterprises already secure, store, and collaborate on their critical business content. Since entering beta, thousands of enterprises are leveraging Box AI to easily extract the information they need from their documents, generate their own new content automatically, or derive timely insights from their content to transform how they work and accelerate workflows in their businesses. Today:
- Wealth advisors are using Box AI to quickly analyze detailed documents from Investor Relations to inform decisions around wealth management and market updates.
- Clinical researchers are using Box AI to summarize vast amounts of clinical trials to more rapidly extract key findings.
- Product marketing managers are using Box AI to generate fresh and editable content quickly in the form of blogs, LinkedIn posts, and other social media.
- HR leads are using Box AI to search massive amounts of sensitive documents including Intranet content, company policies, and employee handbooks in order to find the answers employees need most.
- Nonprofit outreach specialists are using Box AI to efficiently draft communications as well as track donor engagement and analyze donor data.
“Not too long ago, our organization was discussing the business imperative to embracing digital transformation by sunsetting legacy workflows and investing in a content cloud platform that enables secure and seamless collaboration from anywhere,” said Matt Hoey, Assistant Vice President of Technology at Marx|Okubo Associates. “As the leader in this space, we chose Box to ensure we could achieve our transformation, and without knowing it at the time, this would be a critical decision that allowed us to maintain business continuity during an unforeseen global pandemic. We see Box AI as a similarly massive value-add to our technology stack, where we may not know all the ways generative AI will change our lives in the future, but we’re on the rocketship of AI advancements just by being a Box customer.”
Box Integrations With Microsoft 365
Over the past decade plus, Box has built a number of integrations for Microsoft 365 and Teams to enhance productivity and collaboration for joint customers including:
- Teams: Box customers can streamline collaboration by accessing and sharing Box content directly in Teams channels or chats.
- Word, Excel, PowerPoint: Users can easily access, create, edit, and collaborate in real-time on Word, Excel, and PowerPoint files on the Box web app, mobile or desktop, with all edits auto-saved to Box.
- Outlook: Users can eliminate the risks and hassle of email attachments by converting outbound attachments to Box shared links and maintain version control by saving incoming attachments to Box from any device.
- Copilot: Box will also soon integrate with Microsoft Copilot for Microsoft 365 starting in Teams via the Box connector for Microsoft Graph.
Pricing and Availability
Box AI, including the integration with Azure OpenAI Service, is generally available today, and is included in all Enterprise Plus plans, with individual users having access to 20 queries per month and 2,000 additional queries available on a company level.
More information about the integration can also be found at the Box blog. Eligible customers interested in seeing the power of Box AI in action can easily enable it in their organization by accessing their Box Admin Console. Additional instruction can be found at the Box Community and at a Box AI webinar on March 14.
About Box
Box (NYSE:BOX) is the leading Content Cloud, a single platform that empowers organizations to manage the entire content lifecycle, work securely from anywhere, and integrate across best-of-breed apps. Founded in 2005, Box simplifies work for leading global organizations, including AstraZeneca, JLL, Morgan Stanley, and Nationwide. Box is headquartered in Redwood City, CA, with offices across the United States, Europe, and Asia. Visit box.com to learn more. And visit box.org to learn more about how Box empowers nonprofits to fulfill their missions.
Contacts
Media:
Dani Robin
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Investors:
Cynthia Hiponia and Elaine Gaudioso
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