Block Inc. (NYSE:XYZ) CEO Jack Dorsey said on Wednesday that the firm’s new workspace collaboration platform, Buzz, elevates its core technologies to a new height.

AI Tech Part of Block’s DNA, Says Dorsey

During Block’s second-quarter earnings call, Dorsey stated that AI technologies have always been an integral part of the company’s DNA.

He elaborated that the firm started with machine learning and deep learning disciplines, which have proven beneficial for the company and its customers.

“I think Buzz takes it to a different level,” Dorsey added.

Will Buzz Give Slack a Run for Its Money?

Dorsey said many sellers he has spoken with are “frustrated” with the current tools at their disposal and are in search of something built-in and ready to use.

He said Buzz is designed to help businesses manage sales, employees and operations from a single workspace.

Block launched Buzz last month as an open-source workplace collaboration platform connecting humans and AI agents in the same conversations. Because it is open source, developers can make customized workflows for their team.

Block Delivers Double Beat

Meanwhile, Block’s second-quarter earnings came in better than expected.

The company reported quarterly earnings of $1.02 per share, surpassing the consensus estimate of 87 cents by 17.24%. The quarterly revenue was $6.62 billion, beating the analyst consensus estimate of $6.49 billion.

Block holds 9,117 Bitcoin, currently worth $590 million, ranking as the 15th-largest corporate holder of the apex cryptocurrency, according to BitcoinTreasuries.net.

Price Action: Block shares were down 0.52 in pre-markaet trading after closing 0.52% lower at $84.20 during Wednesday’s regular trading session. Year-to-date, the stock has jumped nearly 30%.

XYZ stock shows a stronger price trend across short-, medium-, and long-term periods, according to Benzinga’s Edge Stock Rankings.

Photo courtsey: Frederic Legrand – COMEO / Shutterstock.com