SAP SE ( SAP Quick Quote SAP - Free Report) unveiled Joule, which is an innovative artificial intelligence (AI) copilot driven by natural language and generative capabilities. Joule will be released with SAP SuccessFactors solutions and SAP Start later this year, followed by integration with SAP S/4HANA Cloud, a public edition in the near future.
Joule will be integrated into SAP's cloud enterprise suite and offer proactive, contextual insights from SAP solutions and third-party sources. This will likely help customers to make faster and more informed decisions while ensuring security and compliance. It will also help to transform the user experience across departments like HR, finance, supply chain, procurement, and customer experience.
The AI copilot continuously evolves by delivering tailored solutions for diverse scenarios, such as aiding in HR tasks, like unbiased job descriptions and relevant interview questions, added the company.
Building on existing SAP Business AI offerings, Joule aligns with SAP's broader strategy to cultivate an enterprise AI ecosystem, involving direct investments and strategic partnerships with leading tech players.
Per a report from
Fortune Business Insights, the global generative AI market size is projected to grow from $43.8 billion in 2023 to $667.9 billion by 2030, registering a CAGR of 47.5%. The industry is likely to benefit from the growing demand for AI and virtual reality applications.
SAP is one of the largest independent software vendors in the world. The company is also the leading provider of enterprise resource planning software. Momentum in SAP’s business technology platform, particularly the S/4HANA solution, along with opportunities presented by the proliferation of generative AI, bode well.
The company recently inked an agreement with Microsoft to team up on generative AI solutions to aid clients in addressing the talent gap with new recruitment and development tools. SAP also invested funds in three companies, Aleph Alpha, Anthropic and Cohere, which are engaged in generative AI.
SAP currently carries a Zacks Rank #4 (Sell). Shares of the company have gained 58.6% compared with the
sub-industry’s rise of 36.9% in the past year. Image Source: Zacks Investment Research Stocks to Consider
Some better-ranked stocks in the broader technology space are
Asure Software ( ASUR Quick Quote ASUR - Free Report) , Aspen Technology ( AZPN Quick Quote AZPN - Free Report) and Badger Meter ( BMI Quick Quote BMI - Free Report) . Asure Software and Aspen Technology presently sport a Zacks Rank #1 (Strong Buy), whereas Badger Meter currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Asure Software’s 2023 earnings per share (EPS) has increased 35% in the past 60 days to 54 cents.
Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 676.4%. Shares of ASUR have surged 59.1% in the past year.
The Zacks Consensus Estimate for Aspen Technology’s fiscal 2024 EPS has increased 6.8% in the past 60 days to $6.58.
Aspen Technology’s long-term earnings growth rate is 17.1%. Shares of AZPN have declined 17.1% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 EPS has increased 1.4% in the past 60 days to $2.86.
Badger Meter’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 6.7%. Shares of BMI have surged 58.8% in the past year.