SAP Sapphire & Investor Session Recap - SAP's Autonomous Enterprise Vision

研报英文原文证据摘录

SAP Sapphire & Investor Session Recap - SAP's Autonomous Enterprise Vision

C O M PA N Y N O T E

M a y 1 3 , 2 0 2 6

• Autonomous Suite & Industry AI. SAP's goal is to reinvent how businesses run with agentic

AI, by launching additional AI assistants & agents (400+ agents available by end of 2026) and

Joule AI (Joule can serve as the new engagement layer, across SAP systems and beyond).

Separately, mgmt spoke to the autonomous opportunity across individual industries, launching

a variety of industry-specific solutions. The firm is launching vertical specific AI & automation

capabilities across the platform. Mgmt expects 10x industry AI revenue growth within the next

few years.

• Technology Update: Defending the Moat. Product and engineering head Muhammad Alam

spoke to how AI, instead of being in the SaaS apps, now sits on top of the SaaS apps.

While the models from the frontier labs are getting better day-to-day, SAP attributed its

core differentiation to its Knowledge Graph (7.3M+ data fields across SAP), Process Graph

(120 core processes and 1K+ sub-processes), domain models (2B lines of code not in the

public domain), and SAP predictive models (SAP ABAP-1, SAP RPT-1.5, and now Prior Labs

models). Beyond that, SAP can also deliver customer-specific processes. As a result, mgmt

highlighted consistent outperformance with SAP's models alongside the frontier labs' models.

Specifically, it was disclosed that Claude alongside Joule can deliver a near 0% error rate vs.

a 60% error rate for Claude alone. Interestingly, SAP will now make AI tools available to ECC

customers (as long as they have an existing cloud instance). The BDC story is expanding,

with the Reltio and Dremio acquisitions, and mgmt noted that SAP customers that use BDC