SAP is planning to invest more than €2 billion spend over next five years in the cloud and advance a technology community focused on machine learning (ML), blockchain, the Internet of Things (IoT) and software as a service (SaaS).
The step reflects SAP’s global strategy – fueled by the SAP Leonardo digital innovation system – to help every organization become an intelligent enterprise. SAP will focus on startups that build solutions complementary to the SAP Leonardo system to foster fast collaboration and global scale.
SAP CEO Bill McDermott has announced a series of planned investments for SAP’s operations in France over the next five years to accelerate the company’s digital strategy and support France’s growing position as a hub of innovation.
The company plans to incubate more than 50 startups and will invest €150 million per year in R&D over the next five years. The company is opening the second SAP.iO Foundry location in Europe to provide more than 50 startups with mentorship, technology and access to the vibrant SAP ecosystem.
After a meeting with French President Emmanuel Macron, Bill McDermott said, “President Macron’s bold embrace of the digital world will help France rise to an enviable position as a global innovation leader. We see immense potential in the entrepreneurial spirit of France to disrupt business models, create modern jobs and unleash exciting new opportunities that help the world run better.”
Recast.AI Acquisition to accelerate Natural Language Processing capabilities. Recast.AI provides a development environment – software, technology and applications – that uses natural language, for example, chatbots. Recast.AI’s technology matches the requirements of conversational chatbots and allows high-performance natural language processing that supports more than 20 languages.
The acquisition will help SAP enhance the natural language processing capabilities in SAP solutions to help customers enjoy an improved user experience. SAP aims to simplify complex business interactions and processes by employing conversational user experience technology. The intention is to have applications speak to SAP software users in natural language. SAP created the SAP CoPilot digital assistant, a Web application, and an in-house platform to build conversational applications. SAP intends to use this platform across a wide breadth of its portfolio.
SAP is acquiring Recast.AI through its direct French subsidiary SAP France Holding, a limited liability company. Both companies agreed not to disclose details of the transaction.