SAP is pushing investments in generative AI startups

SAP is pushing investments in generative AI startups

New York, 7/21/2023

SAP, the German enterprise software giant, has made undisclosed investments in three major generative AI companies: Anthropic, Cohere, and Aleph Alpha. SAP is the third largest global software company after Microsoft and Oracle, and the largest outside the United States.

All three AI companies offer text generation technology that can benefit SAP’s sales, service, and commerce products.

The startups were selected for their industry leadership, innovation and vision for advancing AI. Google-backed Anthropic developed Claude and Claude 2, its “constitutional” text-generating AI model that can summarize, write, code, and more.

Cohere has developed multilingual language models with the help of Salesforce and Nvidia and has an AI platform for enterprise customers to use chatbots and more.

Aleph Alpha, already a SAP partner, has released the Luminous series of large language models, some of which are multimodal.

According to SAP, more than 26,000 customers worldwide already use the SAP Business AI offerings, which include AI models pre-trained on business data.

Sapphire Ventures, the SAP-backed enterprise venture capital firm, has also committed over $1 billion to invest in AI-enabled enterprise technology startups.

SAP customers can gain early access to startup innovations through their partnership with Sapphire.

Hits: 3