Several major European technology companies have reported increased revenue and business growth linked to artificial intelligence, according to their recent quarterly financial disclosures. Firms such as Germany-based SAP and France-based Capgemini are attributing gains to the integration of AI functionalities into their existing software and consulting services for their large corporate client bases.
Software corporation SAP announced in its first-quarter 2024 earnings report that its current cloud backlog reached €14.2 billion, a 28% increase year-over-year. The company cited customer adoption of its Business AI offerings as a contributor to this growth.
“We are seeing strong adoption of our Business AI solutions,” SAP CEO Christian Klein stated in the company’s earnings release. “Our portfolio is uniquely positioned to help customers capture the opportunities of AI.” SAP is embedding its generative AI assistant, named Joule, across its suite of cloud-based enterprise applications.
In the technology consulting sector, Paris-headquartered Capgemini reported it had secured €2 billion in generative AI-related bookings over the last two quarters. The company stated its objective is to train the majority of its workforce on AI to help its clients implement the technology.
Aiman Ezzat, CEO of Capgemini, said during a recent investor call that the firm is focusing on helping clients identify practical use cases for AI. “Our clients are moving from observing to acting on AI,” Ezzat noted, outlining the company’s strategy to provide AI implementation and management services.
Other established technology companies in Europe have also highlighted AI in their financial communications. Dassault Systèmes, a French software company specializing in 3D design and product lifecycle management, has presented AI as a key component of its 3DEXPERIENCE platform, which is used in industries from aerospace to manufacturing.
The financial reports from these firms indicate a trend where the initial commercial applications of generative AI are being leveraged by companies with extensive, long-standing relationships with enterprise customers. These technology providers are incorporating AI features into products and services that are already widely used in business operations, a strategy detailed in their communications to investors and the public.
