Zoom, the leading video conferencing company, is stepping into document creation with its latest offering, Zoom Docs, according to the Washington Post. Unveiled during the annual Zoomtopia conference, this new product aims to compete with established options like Google Docs and Microsoft Word. Zoom Docs combines the power of artificial intelligence (AI) with Zoom's intuitive platform to provide users with a comprehensive document creation and collaboration experience.
With features like the AI Companion and other AI capabilities, Zoom Docs streamlines the process of drafting, editing, summarizing, and even changing tones within documents. It goes beyond traditional word processors by integrating elements from meeting discussions and allowing users to seek answers to specific content-related questions. Moreover, Zoom Docs seamlessly integrates with Zoom's existing suite of apps, enabling users to work on documents from various devices, including desktop and mobile.
While other workplace software providers have recently incorporated AI into their apps, Zoom is making a notable entry into this landscape with its document creation tool. Microsoft and Google have already introduced AI features in their respective word processing tools, but Zoom's bold move suggests a growing competition in this market. However, it is important to note that Microsoft and Google currently dominate the market for workplace content creation apps, and disrupting their position will require a significant change in how content is created.
Craig Roth, research vice president for Gartner, believes that replacing the market leaders in the document creation space is unlikely in the near future. Microsoft currently holds an impressive 83.5 percent market share in authorship and email apps, while Google follows with a 15.6 percent share. Other providers collectively own less than 1 percent of the market.
"Something would have to fundamentally change the nature of how we create content to upend the market,” said Roth.
Regarding collaborative applications, which encompass web conferencing and virtual event tools, Zoom has a more competitive position. Zoom's market share in this segment was 11.2 percent, trailing behind Microsoft with 29.7 percent and Google with 13.5 percent, according to market intelligence firm IDC.
Zoom is well-positioned to leverage its existing user base of video conferencing customers and expand into the word processing market. With 218,100 enterprise customers as of the second quarter of this year, Zoom Docs aims to enhance collaboration within the Zoom ecosystem. This eliminates the need for users to switch between multiple tabs or apps, providing a seamless and streamlined experience.
Theresa Larkin, head of employee experience product marketing at Zoom, highlights the importance of consolidating document collaboration within the Zoom platform. This allows users to integrate information from meetings, chats, emails, and project management tools into their documents. Zoom Docs also offers customizable layouts and workflows, tagging colleagues on action items, assigning tasks, and tracking projects. The visual tree structure helps users see the interconnectedness of information, while the drag-and-drop feature facilitates the seamless inclusion of tables, charts, and images.
“Am I giving my train of thought to the [document] or am I giving it to the attendees and participants?” said Theresa Larkin, lead of employee experience product marketing for Zoom. “We’re able to streamline [documents] so you don’t have to juggle both worlds.”
According to Wayne Kurtzman, research vice president of social, communities, and collaboration at IDC, Zoom doesn't necessarily need to replace the incumbents to succeed. By offering a set of features that enhance productivity and adapt to the evolving needs of users, Zoom can carve out its own niche within the document creation market.
As the future of work continues to evolve, Zoom's entry into document creation reflects the ongoing transformation within the industry. The question remains: Who will best meet the ever-changing needs of users? With Zoom Docs, Zoom makes a compelling case for itself.