“With generative AI built into the cloud, customers can maximize their business performance, ultimately increasing their revenue by $5.4 trillion.”

SAP CRO and Board Member Customer Success Officer Scott Russell presented on ‘Growth in the Korean Market and Business AI’ at ‘SAP NOW Korea 2024,’ an annual event hosted by SAP Korea (CEO Shin Eun-young).

According to Scott Russell, the company views the Korean market as a strategic market and is focusing on Korea, asking SAP to select it as its AI partner.

Scott Russell said that it is important to be able to measure business performance, and that more than 90% of economic entities are using SAP, and half of Korean companies are using SAP Cloud.

In particular, he mentioned that SAP Cloud can continuously update innovation through updates rather than the concept of upgrades.

Also, SAP's generative AI, Joule, is SAP Copil with a built-in natural language interface.Rut said that with one click, all users can access the information they need instantly, automatically upload documents, and save about 10 minutes of work time. He also said that they have partnerships with leading LLMs and can use these LLMs to derive insights that are tailored to the client’s goals.

In addition, business value is important, and SAP Cloud is confident that customers will save $2.4 trillion in costs and gain $5.4 trillion in revenue. It also said that it can increase supply chain by 10% and double employee satisfaction.

In particular, we are integrating our customers' business processes through SAP Cloud and creating a data platform, which will allow us to use many application functions in addition to the ones I use.

Scott Russell said that the ERP market is rapidly transitioning to the cloud, and that Korean companies also have many growth stories, and that many Korean companies will achieve their best through cloud transition in the future.

Meanwhile, 'SAP NOW Korea 2024' showcased new AI innovations and emphasized strong partnerships and continued growth potential in the Korean market.

This year's event, under the theme of 'Innovation methods to maximize corporate potential', was organized to introduce various latest SAP solutions and adoption cases that strengthen corporate competitiveness and support growth.

In particular, leading domestic companies in various industries, such as Samsung C&T, Changshin, LX Semicon, and Amazon Web Services (AWS), attended the event to share industry-specific solution cases and provide participants with business insights that can be applied to their own businesses.