SAP EXECUTIVE
New-age stocks recover post poll results; Ixigo IPO launch
A day after election results, shares of new-age companies like Zomato and Delhivery made a sharp recovery on the bourses. A look at the numbers and more in today’s ETtech Top 5.
SAP aims to double embedded AI use cases to 100 by year-end: SAP CEO
Klein was speaking at SAP’s annual conference Sapphire, where the company unveiled generative AI innovations and partnerships. Klein was speaking at SAP’s annual conference Sapphire, where the company unveiled generative AI innovations and partnerships.
Paramount Global replaces CEO Bob Bakish with a troika of executives
Bob Bakish will be replaced by a troika of executives who will form a new "Office of the CEO." The group includes George Cheeks, the CEO of CBS; Chris McCarthy, CEO of Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, the CEO of Paramount Pictures.
Pine Labs' Setu names former SAP executive Anand Raisinghani new CEO
API infrastructure company Setu, affiliated with merchant-focused digital payments firm Pine Labs, announced the appointment of Anand Raisinghani as its new CEO. With over two decades of experience, Raisinghani previously served as Vice President and Head of Professional Services at SAP India, and has worked with tech giants like Equifax, IBM, and Wipro. He will collaborate closely with Setu's co-founder Nikhil Kumar.
Equinix hires Google Cloud executive Adaire Fox-Martin as CEO
Fox-Martin, who has been on Equinix's board since 2020, will succeed the company's current Chief Executive Officer Charles Meyers. Martin has been at Google Cloud for three years and has also held global positions at software companies such as SAP and Oracle.
Now, CXOs wear their hearts on their screens
Brand and business specialist Harish Bijoor has seen an exponential rise in the number of clients seeking out experts for personal brand building and strategy. “In 2020, we had around 17 C-suite clients in a full year. Today, we have over 200 clients. Earlier, brands would focus on 70% advertising in the physical domain, but today, 80% is on digital ad spends and CEOs are representatives of the brand,” he said.
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SAP to restructure 8,000 roles in push towards AI
SAP said it expects generative AI to fundamentally change its business and has pledged to invest more than $1 billion by backing AI-powered technology startups through its enterprise capital firm Sapphire Ventures.
CEOs fear for their firms in pre-Davos survey as AI, climate risks rise
Advancements in generative AI were top of the concerns for most survey respondents, with almost 75% predicting it would significantly change their business in the next three years.
SAP to create new board division focused on cloud growth
Muhammad Alam will at the same time join the executive board, succeeding Thomas Saueressig and assuming responsibility for SAP's product engineering.
Data cloud firm Snowflake names ex-Microsoft executive Vijayant Rai as new India MD
Rai takes over from Vimal Venkatram, who has moved to a regional role for Snowflake, based in Singapore, a company statement said. He will be responsible for driving business growth and go-to-market strategy for Snowflake in India, it added.
Infosys loses senior executive Binny Mathews to Accenture
Mathews, who was with Infosys for over 15 years and was a senior vice president and group head of procurement before joining Accenture on January 3, 2024, joins the list of senior executives leaving Infosys since last year.
Tailwinds propelling India; bullish about prospects, says Punit Renjen
India is incredibly important for German multinational software company SAP SE, said senior company officials here on Tuesday.
SAP, Stanford University join hands to help build responsible AI
SAP will support Stanford University Human-Centered Artificial Intelligence corporate affiliate programme's research, policy and education efforts to help responsibly build and implement artificial intelligence (AI).
SAP posts 16% jump in Q3 cloud business revenue at $3.66 billion
For the full year, the company reaffirmed its cloud revenue outlook in the range of €14 billion-14.2 billion.
LTIMindtree wins Infineon deal
LTIMindtree will modernise Infineon’s SAP application landscape, change the user experience, streamline business processes and deliver digital operations across both SAP S/4HANA and SAP Cloud Solutions, said the company.
SAP Labs India to double AI talent base by next year: MD Sindhu Gangadharan
SAP Labs India, which has more than 12,000 employees across the country, did not give an absolute number for its AI talent but said India is the only location globally where each of its products and services is worked and developed upon.
SAP Labs' Sindhu Gangadharan named as NASSCOM vice chair
The announcement comes a week after Cognizant India's chairman and managing director Rajesh Nambiar, chairman and managing director was named as its chairperson. He was succeeding Anant Maheshwari, former president, Microsoft India, in the role. This means Gangadharan will assume the top chairperson role in the next cycle.
SAP’s incoming chairman Punit Renjen on the India opportunity; Isro sets sights on the sun
Incoming SAP chairman Punit Renjen dwells at length on his new role, the opportunities it throws up, and his hopes for a wider collaboration between India and the US. Here’s what he told us and more in today’s Morning Dispatch.
SAP lowers FY cloud revenue forecast after slowing demand in Q2
Cloud revenue was 3.3 billion euros in the second quarter, falling short of a median estimate of 3.4 billion euros in a company-provided consensus, while total revenue came in at 7.55 billion euros versus a median forecast of 7.6 billion euros.
Huge growth potential in generative AI, says SAP CEO Christian Klein
"Currently, we at SAP address a $500 billion market. We assume that the potential will increase significantly through generative AI," Klein said.
HP misses revenue estimates as inflation saps PC demand
Companies such as HP, Lenovo and Dell Technologies have seen demand ease from peaks hit during the pandemic, when work-from-home trends had driven up sales of laptops and other electronic devices.
EU draft Data Act puts trade secrets at risk, Siemens, SAP say
EU countries and EU lawmakers are working on the details of the Data Act, proposed by the European Commission last year before it can be adopted as legislation. The draft law, covering EU consumer and corporate data, is part of a set of legislation aimed at curbing the power of U.S. tech giants and helping the EU to achieve its digital and green objectives.
Siemens, SAP say EU draft Data Act puts trade secrets at risk
EU countries and EU lawmakers are working on the details of the Data Act, proposed by the European Commission last year before it can be adopted as legislation.
SAP to hire at least 1,000 new staffers this year: senior VP Sindhu Gangadharan
A quarter of the patents filed by SAP are also coming out of Bengaluru. India is the fastest growing market for SAP and in the past few years an average of 3,500 employees were hired, Gangadharan said. SAP Labs India currently employs around 14,000 people.
SAP to embed ChatGPT in products as quarterly revenue beats estimates
SAP also has an internal committee with customers, researchers and analysts to check for biases in AI use cases and guard against potential misuse of the technology.
How companies are fine-tuning their services even as hype around Metaverse fades
While the hype around the metaverse has slowed down in the past year, tech firms are deploying metaverse-based solutions internally, finetuning their services so as not to be caught napping when demand comes back.
SAP Labs lays off 300 staffers in India
The layoffs majorly impacted Bengaluru and Gurgaon offices. It was a result of shuttering of a global delivery centre that housed custom development roles to undertake SAP implementation projects.
Indian-origin Punit Renjen in line to succeed Hasso Plattner as chairman of SAP
Indian-American businessman and former Deloitte Global CEO is being considered to be the next chairman of SAP SE, a Germany-based European multinational software company. The Supervisory Board of SAP has nominated Renjen to stand for election as a new member of the Supervisory Board and proposes him as the designated successor to Chairman Hasso Plattner.
SAP to cut 3,000 jobs, explore Qualtrics stake sale
SAP is the latest tech company to cut jobs after companies including Alphabet's Google, Microsoft and Amazon announced thousands of layoffs to cut costs as they brace for tougher economic conditions.
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