Zoom is rebranding from Zoom Video Communications Inc. to simply Zoom Communications Inc. In a blog post, Zoom Communications CEO Eric Yuan describes the company as now being the “first AI-powered human communication working platform,” offering “modern hybrid work solutions.” This marks a notable shift from its 2020 boom when the classic Zoom Meetings product became synonymous with video conferencing, flourishing as companies adapted to remote work.
Now, Zoom no longer wants to be defined solely by video, as employees return to offices and larger competitors like Google, Microsoft, and Slack include video as part of office suites companies already pay for.
By the end of 2020, Zoom’s annual revenue quadrupled, but by early 2022, growth projections shifted. Wedbush analyst Dan Ives predicted a “sharp decline” in growth for remote-work giants like Netflix, Facebook, Zoom, and Peloton. For both Peloton and Zoom, the following months and years confirmed this prediction.
In response, Zoom introduced more comprehensive communication tools, starting with Zoom Team Chat. It now offers a full Zoom Workplace solution, including productivity apps similar to Google and Microsoft Office, a business email client, and other tools.
This summer, Yuan highlighted on the Decoder podcast:
“…today, we spend so much time on calls, attending meetings, sending emails, deleting spam, and replying to messages, staying incredibly busy. How can we use AI and Zoom Workplace to fully automate this work? That’s critical for us.”
In October, Zoom launched its AI Companion 2.0 with enhanced summarization and assistance tools, promising to evolve into a fully customizable digital twin powered by institutional knowledge. This, Yuan claims, could “free up an entire workday and enable a four-day workweek.”
