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SAP to swallow Israeli-based WalkMe for $1.5b

Ana Mary Joseph
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SAP to swallow Israeli-based WalkMe for $1.5b
  • SAP has articulated its intention to merge WalkMeX with its own Joule copilot.

SAP, a German software firm, has announced its plan to acquire WalkMe, a Saas company based in Tel Aviv, for a significant sum of $1.5 billion.

The agreement, approved by the boards of both companies, values WalkMe at 14 per share, representing a remarkable 45 per cent premium over its recent closing price.

 The completion of this acquisition is contingent upon meeting customary closing conditions and is anticipated to finalise in the third quarter of this year.

SAP has articulated its intention to merge WalkMeX with its own Joule copilot, a move that underscores its commitment to enhancing user experience and maximising the value of IT investments.

Empowering users

The strategic acquisition of WalkMe aligns with SAP’s broader corporate strategy, complementing its previous acquisitions like Signavio, a business process automation firm purchased for $1.2 billion in 2021, and LeanIX, an enterprise architecture management company acquired late last year.

“Applications, processes, data, and people are the four key elements of a successful business transformation,” SAP’s CEO Christian Klein, said.

By integrating WalkMe into its portfolio, SAP aims to empower end users in swiftly adopting new solutions and features, thereby optimising the returns on their IT investments.

This acquisition marks a significant step forward in SAP’s quest to offer comprehensive support to businesses undergoing digital transformation.

SAP to infuse Business AI across its enterprise cloud portfolio

Naushad K. Cherrayil
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SAP to infuse Business AI across its enterprise cloud portfolio
  • SAP to help customers unleash the agility and ingenuity they need to succeed in today’s fast-moving business landscape.
  • 80% of the most used tasks on SAP’s cloud software will be managed by Joule by the end of this year.

SAP is set to revolutionise the integration of Business AI throughout its enterprise cloud portfolio, which serves as the backbone for some of the world’s most crucial processes.

At the SAP Sapphire event, Christian Klein, the CEO of SAP SE, outlined how these new Business AI innovations will reshape operational paradigms, empowering businesses to unlock agility and creativity essential for thriving in today’s rapidly evolving commercial environment.

The introduction of Joule last year marked a significant milestone, with initial integration into platforms like SAP SuccessFactors and SAP Start, followed by subsequent inclusion in various other products.

This year, Joule’s reach will extend to encompass SAP Ariba, SAP BTP Cockpit, and SAP Analytics Cloud, alongside integration into the company’s supply chain management solutions.

These additions join a host of existing solutions such as SAP S/4HANA Cloud editions, SAP Customer Data Platform, and others that have already benefited from Joule’s capabilities.

However, Joule is not the sole AI offering within SAP’s repertoire. During the Sapphire event, SAP revealed plans to leverage Meta’s Llama 3 for script generation in SAP Analytics Cloud.

Expanding AI use cases

Furthermore, SAP has broadened its partnership with Google, integrating Joule and SAP Integrated Business Planning for Supply Chain with Google’s Gemini AI assistant and Google Cloud Cortex Framework’s Data Foundation, which is built on BigQuery.

Simultaneously, within the SAP Business Technology Platform, a slew of large language models from industry stalwarts like Amazon Web Services, Microsoft Copilot, Meta, Mistral AI, and NVIDIA are being incorporated into the generative AI hub.

This augmentation of SAP’s AI Core infrastructure simplifies the development of generative AI applications for SAP applications and Microsoft 365.

Christian Klein’s announcement during the event emphasised SAP’s commitment to expanding AI use cases by doubling the current number by year-end. These applications will span diverse domains such as sourcing, supply chain management, customer experience, and sales.

Klein also projected that by the close of the year, Joule will oversee 80 per cent of the most commonly executed tasks within SAP’s cloud software, enhancing overall user productivity by 20 per cent.

Enhancing employee efficiency

At the event, Scott Guthrie, the Executive Vice President of the Microsoft Cloud and AI Group, highlighted how the collaborative effort aims to enhance employee efficiency using generative AI, thereby aiding clients in tackling significant business challenges effectively.

Jensen Huang, CEO of NVIDIA, expressed optimism about a new era in computing, characterising it as the dawn of a fresh industrial revolution. He emphasised NVIDIA’s intricate supply chain and the necessity of unity within the Taiwanese ecosystem to bolster global AI infrastructure.

Additionally, AWS CEO Matt Garman declared the integration of AWS’s generative AI platform, Bedrock, with SAP’s gen AI hub. This strategic alignment enables customers to access models from Anthropic, Amazon, and other resources to merge with SAP system data seamlessly.

 “The impact that AI is expected to have on the global economy over the next three years is mind-blowing. This is particularly true in a region such as ours, where the pace of digital transformation has been remarkable,” Sergio Maccotta, Senior Vice President, SAP Middle East Africa – South, said.

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Microsoft pushes AI tools to customer service call centres

Mohammed Fahad
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Microsoft pushes AI tools to customer service call centres
  • By streamlining workflows and minimising manual tasks, the aim is to empower agents to efficiently provide accurate and timely assistance to customers.
  • Primary advantages of AI-driven approach are its potential to augment the capabilities of human customer service agents tasked with handling incoming phone calls.

In a significant move, Microsoft has unveiled its plan to introduce cutting-edge artificial intelligence tools geared towards enhancing customer service operations within call centers.

Microsoft said the new contact centre software will become available on July 1, 2024.

Leveraging the expertise gained through its partnership with OpenAI, the tech giant is set to revolutionise various sectors of the business world by employing its innovative Copilot technology, designed to streamline tasks such as email summarization and PowerPoint slide creation, seamlessly integrated into Microsoft’s widely-used Office software suite.

The push to implement Copilot into call centres marks an ambitious step for Microsoft, as it aims to establish a stronger foothold in a field historically dominated by competitors like Salesforce.com and Zoom.

The upcoming AI tool is poised to optimise customer support procedures by empowering chatbots to deliver more informed responses through comprehensive analysis of company help manuals and resources.

“By automating and enhancing these interactions, Microsoft intend to elevate the efficiency and effectiveness of customer service interactions,” Jeff Comstock, Corporate Vice President of Dynamics 365 Customer Service at Microsoft, said.

Juggling multiple outdated applications

One of the primary advantages of this AI-driven approach is its potential to augment the capabilities of human customer service agents tasked with handling incoming phone calls.

Often burdened with juggling multiple outdated applications simultaneously, these agents encounter challenges in swiftly accessing relevant information to assist customers in real-time.

Microsoft’s innovative tools are designed to address this issue by intelligently consolidating and presenting pertinent data, enabling agents to navigate diverse applications seamlessly using natural language commands.

Toil and drudgery”

By streamlining workflows and minimising manual tasks, the aim is to empower agents to efficiently provide accurate and timely assistance to customers.

In recognition of the prevalent challenges within the customer service industry characterised by cumbersome processes and inefficiencies, Microsoft’s initiative seeks to alleviate the burdens faced by service agents.

Jeff Comstock aptly encapsulates this objective by acknowledging the prevalent “toil and drudgery” pervasive in service operations, emphasizing the need for simplification and optimization.

Through the integration of AI capabilities into the service landscape, Microsoft endeavors to enhance the work environment for customer service agents, allowing them to engage in tasks more seamlessly and effectively.

Current and former staff of OpenAI, Google DeepMind warn about AI risks

Ana Mary Joseph
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Current and former staff of OpenAI, Google DeepMind warn about AI risks
  • Warn about the potential risks stemming from misinformation, loss of independent AI systems, and the exacerbation of existing inequalities, which could ultimately lead to catastrophic consequences, including “human extinction.”
  • One of the key safety concerns highlighted in the letter pertains to generative AI technology, which has the capability to produce human-like text, imagery, and audio at a rapid pace.

A group of current and former employees from prominent AI companies, including Microsoft-backed OpenAI and Alphabet’s Google DeepMind, have raised significant concerns regarding the risks posed by the emerging technology.

In an open letter, they highlighted the challenges posed by the financial motives of AI companies and the need for more effective oversight to mitigate potential risks.

The open letter, signed by a group of 11 current and former employees of OpenAI and individuals associated with Google DeepMind, emphasised the detrimental impact of financial motives on the oversight mechanisms within AI companies.

Catastrophic consequences

The signatories, including notable figures like Geoffrey Hinton, Yoshua Bengio, and Stuart Russell, and four anonymous OpenAI employees and seven former ones, including Daniel Kokotajlo, Jacob Hilton, William Saunders, Carroll Wainwright and Daniel Ziegler, expressed their apprehensions about the unregulated development of AI technology.

They warned about the potential risks stemming from misinformation, loss of independent AI systems, and the exacerbation of existing inequalities, which could ultimately lead to catastrophic consequences, including “human extinction.”

The letter also shed light on the inadequate obligations of AI companies to share crucial information with governments and civil society.

Need for heightened vigilance

Despite policies against harmful content, researchers have identified instances of image generators producing misinformation related to voting, raising questions about the accountability and transparency of these companies.

The group stressed the need for AI firms to be more forthcoming in sharing information about the capabilities and limitations of their systems to prevent misuse and potential harm to society.

One of the key safety concerns highlighted in the letter pertains to generative AI technology, which has the capability to produce human-like text, imagery, and audio at a rapid pace.

The group urged AI companies to establish processes that allow current and former employees to raise risk-related concerns without fear of reprisal.

They also advocated against enforcing confidentiality agreements that restrict criticism and hinder the open discussion of potential risks associated with AI technologies.

Furthermore, the letter pointed out the importance of proactive measures to address covert influence operations that exploit AI models for deceptive activities on the internet.

Recent actions taken by AI companies, such as disrupting covert influence operations, underscore the need for heightened vigilance and collaboration to safeguard against misuse and abuse of AI technology.

Cisco creates $1b fund to invest in genAI- focused startups

Mohammed Fahad
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Cisco creates $1b fund to invest in genAI- focused startups
  • Cohere, Mistral AI and Scale AI among the initial GenAI startups joining the Cisco Investments portfolio to help build a broader AI ecosystem.
  • Cisco is positioning itself at the vanguard of technological innovation and paving the way for transformative advancements in AI-enabled solutions.

Cisco, a prominent player in the realm of technology and networking, made a significant move by announcing the initiation of a $1 billion fund directed towards investment in artificial intelligence (AI) startups.

This strategic maneuver places Cisco among a cohort of leading technology corporations that are eagerly seizing opportunities to acquire stakes in emergent AI enterprises.

“The establishment of our $1 billion AI investment fund is a testament to our commitment to the transformative power of artificial intelligence and it’s potential to redefine industries globally,” Derek Idemoto, SVP, Corporate Development and Cisco Investments, said.

Through its investment division, Cisco has decided to invest in several AI-focused startups, including Cohere, Mistral AI, and Scale AI, among others. Notably, the company has already allocated a substantial portion of the fund, amounting to nearly 200 million.

AI data startup Scale AI is valued at nearly $14 billion, while so-called foundation model developers Cohere and Mistral are both reportedly in talks with investors to raise funds at a valuation of $5 billion each.

Recent research from IDC indicates that the global AI market is expected to double in size to over $500 billion in the next three years. 

Driving innovation

“For more than 30 years, Cisco Investments has invested and partnered with hundreds of companies to drive innovation both within Cisco’s core markets and in new strategic areas. Our recent investments in generative AI companies align perfectly with this long-standing strategy,” Mark Patterson, Chief Strategy Officer, Cisco, said. 

On the other hand, the developers of foundation AI models, namely Cohere and Mistral, are purportedly engaged in discussions with potential investors to secure funding at valuations of $5 billion each.

Foundation AI models represent a significant advancement in the field of AI, characterised by their construction using extensive datasets and the capacity for application across a diverse array of use cases. The foundational role played by these models underscores their potential to revolutionize numerous sectors through innovative solutions.

Proactive engagement

The genesis of the recent surge in AI investment can be attributed to Microsoft-backed OpenAI’s introduction of ChatGPT in 2022, which acted as a catalyst for intensified interest in AI technologies.

In the wake of this development, tech giants like Meta and Amazon have initiated their forays into the domain by investing in various AI startups, thereby enriching the landscape of AI innovation and entrepreneurship.

Cisco’s proactive engagement with AI is not a newfound endeavour, as the company has undertaken over 20 acquisitions and investments in the AI domain in recent years. This concerted effort underscores Cisco’s commitment to advancing generative AI, machine learning capabilities, and the seamless integration of AI technologies across its diverse portfolio.

By aligning its strategic investments with the burgeoning AI sector, Cisco is positioning itself at the vanguard of technological innovation and paving the way for transformative advancements in AI-enabled solutions.

Ooredoo appoints Sunita Bottse as CEO of Mena Digital Hub

TCN Bureau
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Ooredoo appoints Sunita Bottse as CEO of Mena Digital Hub
  • Ooredoo is responding to high demand from hyperscalers like Microsoft, Google, Amazon, as well as enterprises.

Mena Digital Hub, Ooredoo’s newly established carrier-neutral data centre company, has appointed Sunita Bottse as the CEO, effective from May 26, 2024.

She is a Certified Data Centre Professional and Specialist and has held significant roles including Managing Director of Data Centres (APAC) at Lendlease, CEO of SUPERNAP, and VP of Ctex, the first Tier IV certified data centre in the LATAM region.

Previously, she served as the Senior Director of Data Centres Site Acquisition (EMEA) at Microsoft, Sunita brings a wealth of experience and expertise.

Sunita has been recognised with numerous prestigious awards, including the Women in Tech – Global Movement’s 2022 Global Leadership Award, and has been listed twice in APAC’s 50 most influential Data Centre and Cloud leaders by BroadGroup (DataEconomy).

Accelerating digital transformation

Aziz Aluthman Fakhroo, Group CEO, Ooredoo, said: “Sunita’s appointment marks an exciting milestone in our journey to transform the digital infrastructure in the MENA region. Her extensive experience and leadership will be instrumental in driving Mena Digital Hub’s growth and reinforcing our commitment to innovation and excellence.”

Mena Digital Hub plans to expand its capacity to more than 120 megawatts with a $1 billion investment in the medium to long term.

Ooredoo, with 26 active data centres across Qatar, Kuwait, Oman, Iraq, and Tunisia, plans to invest an additional $1 billion, Ooredoo is responding to high demand from hyperscalers like Microsoft, Google, Amazon, as well as enterprises.

Aziz added: “By providing the latest and most advanced data centre solutions that are both sustainable and highly efficient, we are solidifying our position as the leading digital infrastructure provider in the region and accelerating its digital transformation. With Sunita at the helm of Mena Digital Hub, we are confident in our ability to set new benchmarks in the industry and deliver unparalleled value to existing and new customers.”

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