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SAP Focuses on AI-Based CX Development after Q3 Stock Drop and Earnings Drop


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Business Fortune: SAP Boosts AI CX After Q3 Drop

SAP uses artificial intelligence to transform the customer experience (CX), improving customer engagement and customization of conflicting quarterly earnings results.

SAP sees positive outcomes for CX based on the Q3 earnings report, despite a major drop in revenue. In aftermarket trading, the enterprise software company's stock price dropped by 1.51%. Also, by making AI an important part of its CX strategy, the company highlights its strategy for using AI in customer experience.

According to SAP CEO Christian Klein, this new focus might impact the company's bottom line. This major rise in AI applications has produced positive results for SAP, like a decrease in customer engagement and decision-making, improved response, better interactions, and successful and customized customer experiences. Also, more than 82% of client queries have been solved by customer service due to their AI-based self-service options. 

The reason for this rise in use of AI is that end users are using SAP Business AI in their systems more often and are finding positive results. For example, Bosch, an engineering and technology company, has reported saving 2,500 customer support hours annually by using SAP's services agent.

SAP improved its products and services and launched its Business Data Cloud (BDC) as part of its collaboration strategy. SAP is still focused on providing software and cloud solutions due to its trusted cloud infrastructure partners. Additionally, the company aims to support cloud and AI technologies that are more customizable and accessible, which could result in the growth of its customers to include smaller enterprises. This includes an entire cloud portfolio, like SAP cloud solutions, Business Technology Platform (BTP), BDC, and AI, which will be used in a customer data center.


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