"Supporting Innovation of Korean Companies in the AI Era"
"Over the next five years, investment in artificial intelligence (AI) in the Asia-Pacific region is expected to reach $28 billion (approximately 38 trillion KRW). SAP will support Korean companies by developing more than 100 AI solutions."
Scott Russell, SAP Chief Revenue Officer (CRO) and Executive Board Member for Customer Success, announced this on the 9th at the annual event 'SAP NOW Korea 2024' held at the Grand InterContinental Seoul Parnas. SAP is a global enterprise resource planning (ERP) company. In the domestic ERP market, it holds the top position with a 21% market share (as of 2022).
Scott Russell, SAP Chief Revenue Officer (CRO), delivered the keynote speech on the 9th at 'SAP NOW Korea 2024' held at the Grand InterContinental Seoul Parnas. [Photo by SAP Korea]
This year’s event was held under the theme "Innovative Ways to Maximize Corporate Potential." It was organized to introduce SAP’s latest solutions and implementation cases that enhance corporate competitiveness and support growth. Leading Korean companies from various industries, including Samsung C&T, Changsin, LX Semicon, and Amazon Web Services (AWS), attended to share industry-specific solution cases.
According to SAP’s analysis, Korean customers who chose cloud migration experienced revenue growth more than twice as fast compared to on-premises (IT infrastructure owned by the company) customers. The cash conversion cycle accelerated by 42%, and inventory levels decreased by 10%. Customers who selected cloud ERP can access the latest solutions with a single click through updates without waiting for upgrades.
SAP supports business innovation by integrating various AI solutions into its cloud system. More than 30 AI scenarios have been recently introduced. Through a generative AI hub that includes major large language models (LLMs) such as ChatGPT, Gemini, and Mistral AI, SAP helps customers develop their own AI use cases. SAP plans to develop more than 100 new solutions in the future.
As a differentiator of its AI solutions, SAP highlighted the AI chatbot 'Joule.' 'Joule' is connected to all SAP enterprise applications, enabling communication in natural language to enhance work productivity. Customers do not need to directly access applications; instead, by entering 'Joule,' they can bring and view the necessary functions. Russell CRO emphasized, "All solutions will be equipped with generative AI and machine learning," adding, "Choosing SAP as a partner means investing in AI."
Scott Russell, SAP Chief Revenue Officer (CRO), delivered the keynote speech on the 9th at 'SAP NOW Korea 2024' held at the Grand InterContinental Seoul Parnas. [Photo by SAP Korea]
The event was also attended by Dan Beck, President and Chief Product Officer (CPO) of SAP SuccessFactors; Madur Sharma, Head of AI Product Engineering for SAP Asia; and Rudolf Hois, Head of SAP S/4HANA Cloud Product Management and Delivery. They shared the importance of SAP’s solutions and the business value SAP provides through keynote speeches.
Russell CRO stated, "SAP takes pride in nearly 30 years of growth and innovation in the Korean market," and added, "We will continue to support Korean companies to lead global business innovation and achieve the best results."
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