Box Introduces Box AI to Bring Intelligence to Enterprise Content

Will Combine Enterprise-Grade Security, Privacy, and Compliance with AI

Integrates OpenAI’s ChatGPT API with the Box Content Cloud

Box, Inc. (NYSE:BOX), the leading Content Cloud, today unveiled Box AI, a new suite of capabilities that will natively integrate advanced AI models into the Box Content Cloud, bringing Box’s enterprise-grade standards for security, compliance, and privacy to this breakthrough technology. Box AI will make it easier than ever to uncover and share insights, find timely answers to critical questions, and effortlessly create content based on an organization’s data in Box. The company also announced that it will integrate OpenAI’s most advanced AI models with the Box Content Cloud, further enabling new ways to understand and create content on Box.

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Introducing Box AI (Graphic: Box, Inc.)

“We are at the start of a platform shift in enterprise software driven by recent advancements in generative AI, and nowhere is the potential impact greater than in enterprise content,” said Aaron Levie, Co-Founder and CEO of Box. “We’ve seen a step function improvement in our ability to analyze and synthesize the massive amounts of data contained within an organization’s unique documents, videos, presentations, spreadsheets, and more. When combined with AI, we will be able to unlock the value of this content and make every person in a company smarter and more productive. Content is an organization’s most important data, and with Box AI we’re just getting started with how we’ll transform the way work gets done.”

From financial statements and legal contracts, to marketing presentations, and HR policies, more than 115,000 customers trust Box to manage and secure their most important business information. Box AI will bring foundational AI models to where their content is already securely stored, making the files inside of an organization more useful and valuable than ever before.

“Companies that are slow to adopt AI will be left behind,” said Holly Muscolino, Group Vice President, Content Strategies and the Future of Work at IDC. ”AI will augment human abilities, automate repetitive tasks, provide personalized recommendations, and make data-driven decisions with speed and accuracy. Box’s Content Cloud is well-positioned to harness the power of AI, and it will play a key role in helping businesses reach this next stage in the future of work.”

At the Content Cloud Summit on May 9, the company will preview two initial Box AI capabilities, with more to come.

Find the Right Answers and Work Faster with Box AI

Box AI will help users find the exact information they need, when they need it. When viewing a document in preview, a user can ask questions about a document, pull out insights from a spreadsheet, or summarize a presentation, all with just one click. Box AI will work with an organization’s files, resulting in improved accuracy. With this new capability:

• Sales teams will be able to use Box AI to get answers to questions in complex contracts to speed up the sales cycle.
• Analysts will be able to have Box AI summarize lengthy financial reports to inform their rating recommendations.
• Legal teams will be able to ask Box AI to identify key clauses, terms, and obligations from a contract to speed up review cycles.
• Operations teams will be able to tell Box AI to extract key takeaways from a budget to update corporate strategy decks without waiting on a co-worker from the finance team for the right piece of information.
• Customer service teams will be able to use Box AI to surface insights from hundreds of customer feedback surveys to identify key areas for improvement.

Effortlessly Create New Content with Box AI

Box AI will help users create content faster to increase productivity. Right from within Box Notes, users will be able to create content from scratch or generate new material from existing information. With a simple prompt, users will be able to draft emails, newsletters, or blog posts from the ground up in different tones, lengths, and styles, or develop agendas, manuals, and reports that build upon information that is already in Box. In Box Notes:

• Customer success teams will be able to use Box AI to tailor a general onboarding document to a specific customer's unique needs.
• Marketing teams will be able to use Box AI to overcome writer’s block when creating blog posts, web copy, and captions to improve productivity.
• Communications teams will be able to use Box AI to draft social copy in their company’s voice by summarizing text to meet required character limits to save time and effort.
• Product teams will have an on-demand sounding board with Box AI that will help provide feedback on new product ideas, names, and designs.
• Engineering teams can get a running start on developing specs and requirements with Box AI so they can devote more time to higher value work that speeds up product development.

Combining Enterprise-Grade Security, Privacy, and Compliance with AI

Guided by Box’s AI Principles, Box AI builds on the platform-neutral framework that Box has been developing for over a decade and will continue to be enriched by applying the latest advanced intelligence models to its Content Cloud. Box AI will be governed by Box’s built-in permissions and is designed to keep customers in control of their data so that users can only see and interact with the files and content they are allowed to access.

In the future, Box plans to embed Box AI across the Box product suite and power more complex use cases. For example, customers will be able to leverage Box AI to automate workflows and tasks to drive faster business outcomes, power security at scale by automatically classifying files, and enhance the developer ecosystem with access to custom APIs.

Building with OpenAI

Today’s Box AI innovations will be powered by the most advanced AI models from OpenAI, so Box customers can benefit from the latest AI technology to enhance their productivity.

“AI has the potential to reshape work as we know it by enabling powerful new tools for productivity and collaboration,” said OpenAI COO Brad Lightcap. “We are excited to support Box in bringing these tools to life for every user, team, and business around the world.”

Design Partner Program

Initial access to Box AI will be granted to select Box customers through an upcoming Design Partner Program. Specific pricing and packaging will be announced upon general availability. To get ready for Box AI, sign up for the private beta here. To learn more about how AI will transform the way you work with your content, check out the Box blog and register here for the Content Cloud Summit on May 9.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding Box AI, its planned product introduction and product features, and the market adoption and benefits of such product introduction and features. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: (1) adverse changes in general economic or market conditions; (2) Box’s ability to partner with third parties to integrate AI technologies with the Box Content Cloud; (3) delays or reductions in information technology spending; (4) the risk that Box’s customers do not renew their subscriptions, expand their use of Box’s services, or adopt new products offered by Box on a timely basis, or at all; (5) Box’s ability to provide timely and successful product introductions, enhancements, new features and modifications to its platform and services; and (6) actual or perceived security vulnerabilities in Box AI or other Box’s services or any breaches of Box’s security controls. Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase Box products should make their purchase decisions based upon features that are currently available. Additional information on potential factors that could affect Box’s financial results is included in the reports on Forms 10-K, 10-Q and 8-K and in other filings Box makes with the Securities and Exchange Commission from time to time, including the Annual Report on Form 10-K filed for the fiscal year ended January 31, 2023. These documents are available on the SEC Filings section of Box’s Investor Relations website located at www.box.com/investors. Box does not assume any obligation to update the forward-looking statements contained in this press release to reflect events that occur or circumstances that exist after the date on which they were made.

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.

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Box introduces Box AI to bring intelligence to enterprise content