BlackRock, Inc., the world’s largest asset manager, has reported a highly successful third quarter for 2024, marked by strong financial growth. The firm’s total assets under management (AUM) surged to a record $11.5 trillion, driven by $221 billion in net inflows during the quarter. This represents a significant year-over-year increase of $2.4 trillion in AUM, showcasing BlackRock's continued leadership in the asset management industry.
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IBM and SAP Enhance Partnership to Drive Generative AI and Cloud Innovations
ARMONK, N.Y. and WALLDORF, Germany – May 8, 2024 – In a major move to shape the future of enterprise solutions, IBM (NYSE: IBM) and SAP SE (NYSE: SAP) today announced plans to deepen their collaboration. This initiative will integrate new generative AI capabilities and industry-specific cloud solutions, aimed at propelling clients towards becoming next-generation enterprises.
Next-Gen AI and Cloud Solutions to Transform Business Processes
Empowering Client Productivity and Innovation
IBM and SAP are setting their sights on significantly enhancing client productivity through the integration of generative AI into business processes. This effort is centered around the "Value Generation" partnership initiative, which is designed to accelerate clients’ innovation and competitive edge by leveraging generative AI technologies.
Implementing Industry-Specific Enhancements
The collaboration will focus on infusing AI into various business sectors by expanding IBM’s AI capabilities across SAP’s extensive portfolio of cloud solutions and applications. This includes financial, supply chain management, and customer experience solutions among others.
Strategic Development of AI Capabilities
Building Intelligent Business Processes
IBM plans to utilize SAP’s Business Technology Platform (SAP BTP) and other tools like SAP Signavio and SAP Business AI solutions to pioneer next-generation business processes. These efforts will be initially rolled out through a proof-of-concept adoption program, ensuring tailored and effective implementation.
Innovating for Specific Industries
IBM and SAP are committed to developing intelligent use cases for industries such as industrial manufacturing, consumer packaged goods, retail, and more. This initiative will utilize data-driven insights to embed intelligent solutions into end-to-end business processes, fostering significant industry innovation.
Enhancing Architectures and Customer Adoption
Advancing Platform Architecture
IBM intends to provide next-generation reference architectures that enable a clean core approach, utilizing resources like SAP BTP and LeanIX solutions. These architectures are designed to standardize data, process, system, and device integration across industries.
Transforming Client Service Delivery
IBM Consulting Advantage, a platform within IBM, will transform the delivery of SAP solutions. By leveraging generative AI, IBM consultants can enhance productivity and reduce risk across various tasks, including generating user stories, test scripts, and code creation.
Commitment to Social Impact and Ecosystem Growth
Fostering Community and Talent Development
Both companies plan to engage their employee networks and communities to bolster the experience within the consulting workforce and cultivate the next generation of talent. Initiatives include training programs for at-risk youth and integrating social businesses into global supply chains.
Leveraging Generative AI in New Areas
The collaboration will also feature the utilization of IBM’s Watson AI technology in conjunction with SAP’s generative AI hub, enhancing the capabilities available across SAP’s cloud solutions and applications.
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