Oct 23 (Reuters) - ServiceNow ( NOW ) forecast

fourth-quarter subscription revenue above Wall Street estimates

on Wednesday, indicating a robust demand as businesses turn to

its AI-driven products for managing their IT services.

The Santa Clara, California-based company also raised annual

subscription revenue forecast, driven by demand from both new

and existing customers.

Enterprise clients use AI-powered software offered by

companies such as ServiceNow ( NOW ) to automate and manage IT processes

in a bid to cut costs associated with manual work.

ServiceNow ( NOW ) introduced AI agents in September, designed

to autonomously manage tasks. Beginning in November, these

agents will be available in a limited release for IT and

customer service applications, allowing clients to tailor them

to their specific requirements.

Rivals Salesforce ( CRM ) and software giant Microsoft ( MSFT )

are also rolling out similar autonomous AI agents,

which some analysts say could provide companies with an easier

path to monetizing the billions of dollars they are pouring into

AI.

ServiceNow's ( NOW ) customers include telecom giant AT&T ( T ),

data center firm Equinix ( EQIX ), video conferencing software

provider Zoom Video Communications ( ZM ), and ride-hailing

company Uber Technologies ( UBER ).

The company forecast fourth-quarter subscription revenue to

be between $2.875 billion and $2.880 billion, compared with

analysts' average estimate of $2.85 billion, according to data

compiled by LSEG.

ServiceNow ( NOW ) now expects annual subscription revenue to be

between $10.655 billion and $10.660 billion, up from its prior

forecast of $10.575 billion to $10.585 billion.

Third-quarter revenue came in at $2.80 billion, beating

estimates of $2.74 billion. On an adjusted basis, the company

earned $3.72 per share for the quarter ended Sept 30, compared

with estimates of $3.46.

Separately, ServiceNow ( NOW ) named former Google Cloud executive

Amit Zavery as president, chief product officer, and chief

operating officer of the company, effective Oct. 28.