Revolutionize Your Business with Cutting-Edge Generative AI Technology
Published on: March 10, 2024
In a memorable scene from the 1996 movie 'Jerry Maguire,' a pro football player demands to see the money during contract negotiations, cutting through the slick sales pitch of his agent. Similarly, the world of generative AI has moved past the era of hype and slick sales pitches.
Business leaders now crave concrete results from generative AI and are asking tech vendors to demonstrate the actual business value it delivers.
At a macro level, generative AI has the potential to significantly boost global productivity, with McKinsey estimating it could contribute $2.6 trillion to $4.4 trillion annually across 63 analyzed use cases.
SAP, as a provider of enterprise applications and data management, is well-positioned to harness the potential of generative AI and deliver tangible benefits to its customers.
Several examples illustrate how SAP is demonstrating the value of generative AI. In supply chain automation, SAP's Transportation Management solution streamlines freight verification and documentation, leading to nearly $1 million in annual savings for a single warehouse facility.
Delta Airlines leverages SAP's generative AI to enhance talent management, transforming generic role descriptions into accurate job requirements, resulting in a quarter of corporate and management positions being filled from within the company.
SAP's Collection Management for SAP S/4HANA uses generative AI to identify customers and invoices at risk of late payment, helping a consumer products producer earn up to an extra $2.9 million annually.
Joule, SAP's generative AI copilot, streamlines data retrieval by providing instant and accurate answers to natural language questions, saving users valuable time.
As generative AI continues to evolve, 2024 is expected to witness even more value creation for businesses worldwide. Recent AI innovations, such as AI-infused coding tools and generative AI extensions, empower developers to transform business operations.
In conclusion, generative AI is no longer just a promise; it's delivering substantial business value across diverse sectors. The future holds the promise of further advancements and increased business transformation.