SAP (SAP) Goldman Sachs European Technology Conference 2026 summary

Key advances in AI and product innovation

• Released over 130 generative AI features and expanded Joule to 1,400 skills in the past year, with 30 production-grade agents and an AI Agent Hub for governance now live.

• Developed a massive internal knowledge graph linking 452,000 tables and 7.3 million fields, now leveraged by Joule and extendable via Business Data Cloud.

• Launched RPT-1, a tabular foundation model for predictions, replacing hundreds of narrow ML models and honored at NeurIPS.

• Partnerships with NVIDIA and others on world models and robotics, with a focus on agentic governance and sovereign AI.

Impact of agentic AI on software and business models

• AI is disrupting user interfaces, enabling intent-driven ERP and Generative UI, with agents increasingly interacting with SaaS.

• Low-code and AI pair programming have boosted developer productivity and enabled rapid extension building for customers.

• Commercial models are shifting from seat-based to consumption-based, with AI Units tied to business outcomes and extensive metering.

• Defensive moats include proprietary data, contextual data models, and strong customer trust.

Competitive landscape and strategic positioning

• Model commoditization is driving hyperscalers and LLM providers to move up the stack, but deep application knowledge remains a barrier.

• Partnerships and protocol participation (A2A, MCP) are key, with openness to integration (e.g., Microsoft Copilot) but focus on domain-specific orchestration.

• AI-native startups face challenges in enterprise readiness; incumbents monitor, partner, and selectively acquire capabilities.