At its in-house SAPPHIRE trade fair on May 16, the software group SAP plans to present new medium-term growth targets as well as product innovations in the field of artificial intelligence (AI).

There are already more than 60 AI applications in company software for personnel recruitment, service centers and financial management. A new phase has begun with the generative software ChatGPT, which can generate new content independently, explained SAP CEO Christian Klein on Friday. SAP is looking into integrating this into its product portfolio.

With a view to the expected proceeds of around seven billion euros from the sale of SAP's stake in the US subsidiary Qualtrics, Klein spoke of possible plans for further share buybacks, dividend payments and company acquisitions. "The momentum in the cloud business is accelerating, our pipeline for organic growth has never been fuller," said Klein. There is therefore no urgent need to generate growth through acquisitions.

An analyst conference will be held at SAPPHIRE on May 16, at which updated targets for 2025 will be presented. So far, SAP is aiming for revenue of 36 billion euros by then (2022: 31 billion euros) and an adjusted operating profit of 11.5 billion euros.

(Report by Ilona Wissenbach, edited by Ralf Banser. If you have any queries, please contact the editorial team at frankfurt.newsroom@thomsonreuters.com)