The cloud software company, which targets sales reps, marketers and customer service agents, is among the many technology companies hoping to boost revenue with generative AI features.

Salesforce on Wednesday announced plans to invest $1 billion in Singapore over the next five years.

The cloud software giant said the investment is designed to accelerate the country's digital transformation and the adoption of Salesforce's flagship AI offering Agentforce.

Salesforce is among the many technology companies hoping to boost revenue with generative AI features.

The company launched the newest version of Agentforce last month. It has previously described the system -- which it says can tackle sophisticated questions in Salesforce's Slack communications app, based on all available data -- as the first digital AI platform for enterprises.

Salesforce CEO Marc Benioff is scheduled to speak at CNBC's CONVERGE LIVE at around 9:25 a.m. Singapore time (9:25 p.m. ET) on Wednesday.

"We are in an incredible new era of digital labor where every business will be transformed by autonomous agents that augment the work of humans, revolutionizing productivity and enabling every company to scale without limits," Benioff said in a statement.

"Singapore is at the forefront of this shift, and as the world's largest provider of digital labor through our Agentforce platform," he added.