SAP, a leading business software provider, reported better-than-expected first-quarter revenue, backed by the growth of its cloud business. The company revealed plans to embed Artificial Intelligence (AI) technologies, such as ChatGPT, in its products. ChatGPT is a Microsoft Corporation-backed OpenAI chatbot that can respond to queries in a natural manner. Additionally, an internal committee was created to investigate and prevent AI bias or potential misuse of the technology.
The business software maker from Germany has determined to cut 3,000 jobs this year to alleviate costs. Despite the global difficult economic conditions, the company’s revenue still soared 10% to €7.44 billion ($8.2 billion). SAP predicted non-IFRS (International Financial Reporting Standards) operating profit in the range of €8.6-8.9 billion, however, cloud revenue forecast was slightly weakened €1.3 billion to between €14 and 14.4 billion due to the divestment of its Qualtrics unit.
Christian Klein, the current CEO of SAP, added: “We were studying ChatGPT for quite a while… we have built over 50 AI use cases embedding it with our technology. Those products will be available to customers next month after our annual Sapphire conference.”
SAP is an industry leader in enterprise software and cloud-first solutions for the enterprise. It helps businesses of all sizes run better in an ever-changing digital world. The firm offers cloud-based and on-premises software solutions, as well as a platform for business intelligence, analytics, and mobility. It also provides digital, professional services, and enterprise applications support.
Christian Klein is a German economist and the Chief Executive Officer at SAP. With twenty years of experience in software companies and a degree in Business Economics, Klein has notably worked at Deloitte, Microsoft, and McKinsey. Klein was appointed CEO in October 2020, prior to that he served as a Global Managing Director of SAP where he actively engaged in strategic business management, organizational structuring, and product development.
