SAP snaps wallet shut for travel and hiring so it can keep shoveling cash into AI

SAP is cutting hiring and business travel to boost its investment in AI amid intensifying competition in the enterprise application market. According to an internal email, SAP is set to "exclusively focus new hiring on selected profiles only, mainly core AI roles, that are critical for our long-term success." The missive, seen by Bloomberg, said travel unrelated to AI development would also be put on hold. The German software giant will also seek to cut spending with suppliers.