To better counter Microsoft, Zoom plans to add text document editing capabilities to its suite of collaboration tools, akin to Google Docs.
A unique feature of Zoom’s text editor is the ability to include AI-generated meeting summaries, says Smita Hashim, the company’s chief product officer.
Innovative Virtual Meeting Features
Zoom isn’t stopping there; it’s actively exploring innovative virtual meeting possibilities, backed by recent patents. These innovations include integrating interactive virtual objects into video meetings, with applications in advertising and education. Another patent focuses on analyzing non-verbal signals from video communication participants and having AI assistants suggest actions.
Despite experiencing explosive growth during the pandemic from 2020 to 2022, Zoom now faces intensified competition, notes NIX Solutions. While many prefer Zoom’s video conferencing platform over Microsoft Teams, Zoom holds just 7% of the communications and collaboration software market, according to IDC, while Microsoft dominates with 42%.