BofA raises the price target for Salesforce to $440 based on Agentforce's revolutionary efficiency and growth

BofA raises Salesforce's price target to $440, and the CEO of Appian talks about the need for stricter regulations in the event of a Trump presidency, as well as the possible risks of AI and its cautious adoption.

Matt Calkins, CEO of Appian, spoke on CNBC's Squawk Box Europe about the future of the artificial intelligence sector and regulation in the US as Donald Trump is expected to win the presidency.

Calkins concurred when asked if there is a bit of a gold rush in AI. He claimed that there are serious worries about AI, especially among CEOs. This stems from reluctance caused by AI's ability to humiliate enterprises or jeopardize critical data. According to him, they are all searching for a secure method to introduce AI.

According to Calkins, most businesses are taking a cautious approach when it comes to employing AI economically, while big tech companies have been making significant investments. In contrast to the caution displayed by smaller businesses, he said that it's a calculated risk that they need to be taking.

Regarding regulation, Calkins stated that the main point is that, if applied improperly, AI may be rather harmful, which emphasizes the significance of regulatory frameworks. Using the European AI Act as an example, he clarified that regulations may concentrate on limiting the kinds of data AI can access or on limiting its usage.

Calkins anticipated that the Trump administration will place a high priority on competing with China in the technology sector. He also brought up Elon Musk's impact on Trump, saying that Musk's great understanding of artificial intelligence has a good effect on the Trump administration.