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Bloomberg Businessweek
US Restaurant Industry Sales to Grow to More Than $1 Trillion
Feb 5, 2024
52:16
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US restaurant industry sales to grow to over $1 trillion; Fed policy and Chair Jay Powell's 60 Minutes interview; unlocking a vast library of ancient scrolls; industries utilizing the cloud; challenges faced by restaurant owners; market's response to messages from Fed Chair; concerns about tech layoffs and pricing of big tech companies.
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Quick takeaways
- SAP's cloud-first strategy and emphasis on AI-enabled experiences are driving customer adoption and transformation of business models.
- Economic uncertainty is prompting businesses to invest in cloud-based software and modernize their processes for increased efficiency.
Deep dives
Growing demand for cloud-based software drives SAP's strong performance
SAP reported robust demand for its cloud-based software, with its current cloud backlog signaling strong cloud revenue to be booked in the next 12 months. The company's cloud-first strategy and emphasis on AI-enabled experiences have driven customer adoption. SAP's CFOs and CIOs are increasingly investing in cloud infrastructure and AI tools to transform their business models and gain a competitive edge. Economic uncertainty has led to a higher focus on efficiency, prompting businesses to adopt cloud-based software and modernize their processes.
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