SAP (SAP) Goldman Sachs Communacopia + Technology Conference 2026 summary

Customer priorities and market trends

• Geopolitical conflicts, especially in the Middle East, are no longer expected to impact global cloud revenue significantly.

• AI is now central to C-level discussions, with urgency for rapid deployment and measurable ROI.

• Customers are increasingly concerned about AI governance, compliance, and reducing IT complexity.

Cloud migration and business growth

• Cloud migration remains robust, with 60% of the installed base yet to move, ensuring future growth.

• All lines of business are gaining market share, and channel sales are outperforming direct sales.

• Subscription business is expected to continue healthy growth, driven by new features and AI integration.

• Standard maintenance ends in 2030, creating urgency for ERP modernization.

AI platform strategy and product rollout

• The new AI platform emphasizes complex business process automation, not just simple use cases.

• Model-agnostic approach allows switching between multiple LLMs for best outcomes and cost efficiency.

• Joule Work, launching in the fall, serves as a unified engagement layer with strong auditability and context.

• 400 AI agents are set for release, focusing on extensibility and partner-built solutions.