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☆ SAP boss warns against regulating AI, says Europe risks falling behind U.S., China
▼ + stars: | 2024-10-22 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

- German software giant SAP reported a bottom line undermined by heavy restructuring costs, but lifted forecasts for the year ahead. Europe should avoid regulating artificial intelligence and focus its attention on the results of the technology instead, the CEO of German enterprise tech giant SAP told CNBC Tuesday. Christian Klein, who has held the top job at SAP since April 2020, said Europe risks falling behind the U.S. and China if it overregulates the AI sector. While it's important to mitigate the risks associated with AI, Klein argued that regulating the tech while it's still in its infancy would be misguided. "Especially for the startup scene here in Europe, it's very important to think about the outcome of the technology but not to regulate the AI technology itself."

Persons: Christian Klein, Klein Organizations: SAP, CNBC Locations: Walldorf, Germany, Europe, China, Asia, U.S

☆ SAP CEO Christian Klein on company's pivot to AI
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSAP CEO Christian Klein on company's pivot to AISAP CEO Christian Klein joins CNBC's 'Money Movers' to discuss the company's AI growth strategy, enterprise demand, and more.

Persons: Christian Klein, CNBC's

☆ Combination of Nvidia's AI hardware and SAP's business data will create great partnership, SAP CEO says
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCombination of Nvidia's AI hardware and SAP's business data will create great partnership, SAP CEO saysSAP CEO Christian Klein discusses first-quarter results and explains how business AI is driving growth across the company.

Persons: Christian Klein Organizations: SAP

☆ Rise of AI sparks big changes at SAP affecting about 8,000 jobs
▼ + stars: | 2024-01-24 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewSAP will offer buyouts or different roles to about 8,000 workers in a restructuring plan related to the rapid rise of artificial intelligence. The new plan comes as SAP reported better-than-expected earnings, with revenue for its key cloud business expected to rise by about a quarter. SAP has been trying to incorporate AI solutions into its products, and has also invested about $1 billion in AI enterprise startups. It joins the slew of big tech companies, including Google and Microsoft, in making changes to their workforce following the rapid rise of AI.

Persons: —, Christian Klein Organizations: Service, Business, SAP, Staff, Google, Microsoft

☆ SAP is restructuring 8,000 jobs as it shifts focus to AI
▼ + stars: | 2024-01-24 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —One of Europe’s most valuable companies is restructuring 8,000 jobs as it joins a growing list of firms shifting their focus to artificial intelligence. SAP (SAP), the enterprise software giant, announced Tuesday that it would spend €2 billion ($2.2 billion) this year on the transformation, including buyouts and retraining programs. “The majority of the approximately 8,000 affected positions is expected to be covered by voluntary leave programs and internal re-skilling measures,” SAP said. Last summer, it announced investments in three generative AI companies, adding to a pledge to invest more than $1 billion to fund AI-powered enterprise tech startups. Many US tech firms have also announced large investments in AI as they kick off sweeping reorganizations.

Persons: Christian Klein, Alibaba Organizations: Hong Kong CNN, SAP, Wipro, Huawei, US Locations: Hong Kong, New York

☆ SAP plans job changes or buyouts for 8,000 employees in restructuring plan
▼ + stars: | 2024-01-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

SAP CEO Christian Klein speaks at a panel session on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 19, 2023. SAP said on Tuesday that it aims to carry out voluntary buyouts or enable job changes for 8,000 employees as part of a restructuring program for 2024. SAP said it now expects 10 billion euros ($10.85 billion) in 2025 adjusted operating profit. That was above the consensus of 8.33 billion euros among analysts polled by LSEG. WATCH: SAP CEO says 2024 will be year AI moves from discovery to execution

Persons: Christian Klein, Klein, Jennifer Morgan, Bill McDermott, LSEG Organizations: Economic, SAP, Nasdaq, Adobe, Microsoft, Oracle Locations: Davos, Switzerland, German

☆ SAP CEO: 2024 will be year AI moves from discovery to execution
▼ + stars: | 2024-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSAP CEO: 2024 will be year AI moves from discovery to executionChristian Klein, CEO of SAP, discusses the key challenges to properly embedding AI into businesses, including establishing trustworthiness and reskilling labor forces.

Persons: Christian Klein Organizations: SAP

☆ Leaders must be held accountable on climate pledges, SAP CEO says
▼ + stars: | 2023-12-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLeaders must be held accountable on climate pledges, SAP CEO saysSAP CEO Christian Klein on the need for data to back up climate pledges.

Persons: Christian Klein

☆ AI is much more than just hype, SAP CEO says
▼ + stars: | 2023-11-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI is much more than just hype, SAP CEO saysChristian Klein, CEO of German software giant SAP, discusses the role of artificial intelligence in businesses.

Persons: Christian Klein Organizations: SAP

☆ SAP CEO on new generative AI copilot and outlook for cloud demand
▼ + stars: | 2023-09-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSAP CEO on new generative AI copilot and outlook for cloud demandChristian Klein, SAP CEO, discusses the company's new generative AI copilot, Joule, and how he's investing into the future of artificial intelligence.

Persons: Christian Klein Organizations: SAP, Joule

☆ SAP SE CEO Christian Klein goes one-on-one with Jim Cramer
▼ + stars: | 2023-07-20 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

SAP SE CEO Christian Klein goes one-on-one with Jim CramerSAP CEO Christian Klein joins 'Mad Money' host Jim Cramer to discuss Q2 earnings, its partnership with Halliburton and more.

Persons: Christian Klein, Jim Cramer Organizations: Halliburton

The pan-European STOXX 600 index (.STOXX) closed 0.7% higher, tracking overnight gains in Wall Street. Shares of Sage Group Plc (SGE.L) gained 5.1% to a 23-year high after J.P. Morgan upgraded its rating on the stock to "overweight" from "neutral". Shares of chip equipment maker ASML Holding (ASML.AS) rose 2.3% while Nordic Semiconductor (NOD.OL) jumped 6.4%, making technology (.SX8P) among the top European sectoral gainers. Semiconductor shares were in focus after a report stated the U.S. was considering new restrictions on exports of artificial intelligence chips to China. Also boosting the STOXX 600, Roche Holding (ROG.S) gained 1.5% after the U.S. health regulator declined to approve Regeneron's (REGN.O) Eylea drug.

Persons: Christine Lagarde, Jerome Powell, what's, Danni Hewson, AJ Bell, Morgan, Hewson, Roche, Morgan Stanley, Christian Klein, Matteo Allievi, Subhranshu Sahu, Sherry Jacob, Phillips, Alex Richardson Organizations: Sage Group, UBS, CS, . Federal, ASML, Nordic Semiconductor, Semiconductor, Carrefour, Credit Suisse, SAP, Thomson Locations: Wall, U.S, China, Swiss, Gdansk, Amruta, Bangalore

☆ SAP CEO: huge growth potential in generative AI
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of German software group SAP is pictured at its headquarters in Walldorf, Germany, May 12, 2016. REUTERS/Ralph Orlowski/File PhotoJune 28 (Reuters) - German business software maker SAP (SAPG.DE) sees huge growth potential in generative AI technology, Chief Executive Officer Christian Klein told the business daily Handelsblatt in an interview published on Wednesday. The whole development is a huge growth driver for SAP," he said. 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 (MSFT.O) on joint generative AI projects in the field of personnel recruiting.

Persons: Ralph Orlowski, Christian Klein, Klein, Andrey Sychev, Miranda Murray Organizations: SAP, REUTERS, Microsoft, Thomson Locations: Walldorf, Germany

June 27 (Reuters) - Reka, an AI model startup founded by former researchers from Alphabet's DeepMind (GOOGL.O), has raised $50 million in a fresh round of funding from investors including Yuri Milner's DST Global Partners and Snowflake (SNOW.N), the companies told Reuters. Reka focuses on building large and specialized AI models for enterprise customers. Snowflake, which invested in the company, also announced a partnership to allow users to run third-party model providers like Reka within their Snowflake account. The partnerships came as Snowflake competitor Databricks acquired AI model training company MosacicML in a $1.3 billion deal on Monday. Yogatama said Reka has built both large models and proprietary model distillation technology to personalize models for specific use cases.

Persons: Alphabet's, Yuri Milner's, Christian Kleinerman, Databricks, Dani Yogatama, Yogatama, Rob Toews, Krystal Hu, Mark Potter, Anna Driver Organizations: Global Partners, Reuters, Nvidia, Radical Ventures, Thomson Locations: Snowflake, Reka, Toronto

June 27 (Reuters) - Reka, an AI model startup founded by former researchers from Alphabet's DeepMind (GOOGL.O), has raised $50 million in a fresh round of funding from investors including Yuri Milner's DST Global and Snowflake (SNOW.N), the companies told Reuters. Reka focuses on building large and specialized AI models for enterprise customers. Snowflake, which invested in the company, also announced a partnership to allow users to run third-party model providers like Reka within their Snowflake account. The partnerships came as Snowflake competitor Databricks acquired AI model training company MosacicML in a $1.3 billion deal on Monday. Yogatama said Reka differentiated by building both large models and proprietary model distillation technology to downsize models for specific use cases.

Persons: Alphabet's, Yuri Milner's, Christian Kleinerman, Databricks, Dani Yogatama, Yogatama, Rob Toews, Krystal Hu, Mark Potter Organizations: Yuri Milner's DST, Reuters, Nvidia, Radical Ventures, Thomson Locations: Reka, Toronto

☆ SAP raises 2025 outlook, launches 5 bln euro share buyback
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

BERLIN, May 16 (Reuters) - SAP (SAPG.DE) on Tuesday raised its 2025 total revenue outlook for continuing operations by around 4 billion euros ($4.40 billion) and announced a share buyback of up to 5 billion euros, boosted by strong demand for its cloud business. For 2025, the company now expects revenue of more than 37.5 billion euros with cloud revenue of more than 21.5 billion euros. It now sees non-IFRS operating profit of around 11.5 billion euros. "Our strong, resilient cloud growth drives accelerating total revenue and operating profit growth," Chief Executive Christian Klein said in a statement. Last month, SAP reported first-quarter revenue above analysts' expectations, backed by 24% growth in its cloud business revenue.

☆ SAP CEO Christian Klein says there are more A.I. use cases coming down the pipeline
▼ + stars: | 2023-05-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSAP CEO Christian Klein says there are more A.I. use cases coming down the pipelineSAP CEO Christian Klein joins 'Closing Bell Overtime' to discuss the future of A.I., SAP's future plans for the technology, and the impact of A.I. on the labor market.

☆ SAP and Microsoft to deepen collaboration on generative AI in recruiting
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: 1 min

May 15 (Reuters) - SAP (SAPG.DE) will deepen collaboration with Microsoft (MSFT.O) on joint generative AI projects in the field of personnel recruiting, the German software maker announced on Monday. SAP's SuccessFactors solutions will be integrated with Microsoft's 365 Copilot and Azure OpenAI Service to access language models and generate natural language, it added. "We're very excited about the opportunities generative AI unfolds for our industry and our customers," SAP's Chief Executive Christian Klein said. In late April, Klein said the firm would embed Microsoft-backed OpenAI's ChatGPT in its productsReporting by Andrey Sychev, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

The logo of German software group SAP is pictured at the headquarters of SAP (Schweiz) AG in Regensdorf, Switzerland January 22, 2021. Revenue from SAP's lucrative cloud business grew 24% year-on-year, broadly in line with consensus. For the year, SAP expects non-IFRS operating profit in the range of 8.6-8.9 billion euros, 200 million euros less than before. Cloud revenue forecast is seen down by 1.3 billion euros to between 14 and 14.4 billion euros. "Underlying guidance is essentially unchanged, although updated to reflect the disposal of Qualtrics," Jefferies analysts wrote in a client note.

☆ A.I. being built into HR, finance and supply chain company software, says SAP CEO
▼ + stars: | 2023-04-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA.I. being built into HR, finance and supply chain company software, says SAP CEOChristian Klein, CEO at SAP, discusses the firm's cloud business, incorporation of AI, and his outlook for restructuring operations in 2023.

☆ Data startup Cybersyn raises $63 mln in Snowflake-led funding round
▼ + stars: | 2023-04-12 | by ( Krystal Hu | ) www.reuters.com time to read: +2 min

April 12 (Reuters) - Data startup Cybersyn said it has raised $62.9 million from investors including Snowflake Inc (SNOW.N), Coatue Management and Sequoia Capital, its chief executive told Reuters. The investment marks the first time that Snowflake has led a startup funding round, as the data cloud giant looks to expand its data marketplace for enterprise users to acquire live and ready-to-use dataset. Cybersyn plans to use the capital to expand its eight-person team and acquire more proprietary data to create data products with a focus on macroeconomic trends. Besides using public data sources, the startup is also working on identifying and partnering with proprietary data sources, including buying aggregated anonymized data from non-data provider corporations. Snowflake Marketplace allows users to access third-party data and pay for specific datasets, and combine it with their own corporate data using its platform.

☆ SAP ends pointless M&A roundtrip with Qualtrics
▼ + stars: | 2023-03-07 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

For SAP Chief Executive Christian Klein, an exit would cap a relatively pointless M&A roundtrip. In theory, SAP could have supercharged the groups’ combined revenue by offering its software to Qualtrics’ customers and vice versa. Silver Lake, a specialist in tech buyouts, is well-placed to keep that growing. One potential hiccup is that Qualtrics’ fairly paltry EBITDA limits how much debt Silver Lake can use. SAP paid $8 billion in cash for Qualtrics in 2018, and subsequently offloaded a minority stake through an initial public offering in 2021.

In Germany, where SAP is headquartered, the company will cut slightly more than 200 jobs. SAP has also started the process to sell its stake in Qualtrics (XM.O). REUTERS/Arnd Wiegmann/File Photo 1 2Currently, survey-software seller Qualtrics has a market value of $7 billion and SAP has a 71% stake. SAP forecast core operating profit of 8.8-8.9 billion euros at constant currencies for this year. It also expects cloud revenue at constant currencies for 2023 to rise to 15.3-15.7 billion euros, from 12.56 billion euros last year.

☆ SAP to cut 3,000 roles, explore sale of Qualtrics stake
▼ + stars: | 2023-01-26 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

German enterprise software firm SAP said Thursday that it will be cutting up to 3,000 jobs, or about 2.5% of its workforce, becoming the latest tech giant to announce significant layoffs. "We are further focusing our portfolio in areas where we are strongest to continue our accelerated growth," said Christian Klein, CEO of SAP, during the company's fourth-quarter 2022 earnings call. SAP shares were trading over 2% lower at 8:05 a.m. London time following the announcement. It comes after the company reported positive fourth-quarter results during the call. "We in the tech sector, we at SAP, we are very confident about the year ahead," Klein said at the time.

☆ SAP CEO says the world is entering the 'next phase of globalization'
▼ + stars: | 2023-01-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The CEO of German tech giant SAP said the world is entering the next phase of globalization — and he's largely optimistic on the outlook for technology despite challenges posed by higher interest rates and supply chain disruptions. "We are entering from my perspective the next phase of globalization," SAP chief Christian Klein told CNBC's "Squawk Box Europe" at the World Economic Forum in Davos, Switzerland. He added that companies are coming together to secure their supply chains and tackle corporate responsibility issues by better using data. Supply chains have been challenged by a confluence of factors, not least the Covid pandemic. That has led to upheavals of supply chains and higher prices for consumers and businesses around the world.

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