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SAP CEO: huge growth potential in generative AI
Global Banking and Finance Review
Company
(Reuters) – German business software maker SAP sees huge growth potential in generative AI technology, Chief Executive Officer Christian Klein told the business daily Handelsblatt in an interview published on Wednesday.
“Currently, we at SAP address a $500 billion market. We assume that the potential will increase significantly through generative AI. The whole development is a huge growth driver for SAP,” he said.
Klein mentioned human resources as an example of where the technology can be applied. “In the future, the system should be able to configure itself and automate work steps,” he noted.
The SAP CEO also said that generative AI will be able to take over some administrative tasks, such as business appointment management.
SAP said in mid-May that it will deepen collaboration with Microsoft on joint generative AI projects in the field of personnel recruiting.
(Reporting by Andrey Sychev; Editing by Miranda Murray)
Generative AI refers to algorithms that can create new content, such as text, images, or music, based on training data. It has applications in various fields, including business, where it can automate tasks and enhance productivity.
Automation in business involves using technology to perform tasks without human intervention. This can improve efficiency, reduce errors, and free up employees to focus on more strategic activities.
Collaboration in the workplace refers to individuals working together to achieve common goals. It often involves sharing ideas, resources, and responsibilities to enhance productivity and innovation.
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