This has been a terrible year for (NYSE: TWLO) investors so far, as shares of the company have fallen 20%. The cloud stock's negative returns are in stark contrast to those of the broader technology sector, which has been heading higher this year following a stellar 2023, driven by catalysts such as artificial intelligence (AI).

Weak spending by customers on its products has been a big reason behind Twilio's poor stock market performance in 2024. The company, whose services allow organizations to connect with their customers through multiple channels such as text, voice, and video, has been reporting anemic growth in recent quarters.

Twilio's results for the first quarter of 2024 were no different. The stock witnessed a sell-off on account of its mixed quarterly guidance. Now Twilio is trying to leverage AI to help boost its growth -- but will the adoption of this technology be enough to turn its fortunes around? Let's find out.

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Source Fool.com