Berlin: Artificial intelligence (AI) will 'deeply integrate into all aspects of business and society' in the future, 'driving innovation, efficiency, and new business models,' the chief technical officer of the European software firm SAP told Anadolu.
According to Anadolu Agency, Philip Herzig, who is also the chief AI officer and member of the Extended Board of SAP, emphasized that AI is transforming industries by automating processes and increasing efficiency. Herzig pointed out that AI enhances the decision-making efficiency of businesses, notably in the manufacturing sector, where AI-driven solutions can optimize production lines and enable predictive maintenance, ultimately leading to higher productivity and reduced downtime.
In the finance sector, Herzig noted that AI plays a crucial role in enhancing fraud detection and risk management, making financial operations more secure and reliable. He explained that AI is altering the job landscape by automating routine tasks while creating new opportunities in fields like AI development, data science, and cybersecurity. Although some roles might be displaced, new positions will emerge that require human creativity, problem-solving, and emotional intelligence. Industries such as technology and finance are expected to experience a surge in AI-related jobs as AI solutions are integrated into their operations.
Herzig also highlighted that AI acts as 'virtual team members' capable of solving 'multi-step tasks' efficiently. He envisioned a future where AI is deeply embedded into all aspects of business and society, promoting innovation and efficiency while supporting the development of new business models. This future will likely include more personalized and intelligent services and enhanced human-machine collaboration, with a strong emphasis on ethical and responsible AI use.
In terms of sustainability, Herzig illustrated that AI can significantly impact sustainability solutions by enabling quick and accurate carbon footprint calculations, reducing the time needed to write sustainability reports by 85%. He believes that by applying AI to integrated sustainability data, companies will be able to automate complex tasks, mitigate risks, set data-driven strategies, and identify correlations between sustainability metrics and financial performance.
Herzig revealed that SAP has launched the 'SAP Business Data Cloud' to accelerate AI adoption in businesses, supported by investments in robust data management solutions. The company has fostered a culture of innovation, encouraging the embrace of AI-driven transformations while establishing comprehensive ethical guidelines and governance frameworks to ensure responsible AI deployment.
SAP is distinguished as Europe's largest tech company by market cap, with 87% of global trade utilizing SAP systems. It stands as the highest-grossing non-US software firm and the largest in Germany, underscoring its significant influence in the tech industry.