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Europe should prioritize examining the outcomes of artificial intelligence rather than overly regulating the technology, according to Christian Klein, the CEO of SAP. Klein cautioned that excessive regulation in Europe could hinder the region’s competitiveness compared to the U.S. and China in the AI sector. While acknowledging the importance of addressing AI risks, Klein emphasized the need to focus on the effectiveness of AI applications and their impact on employees and society. He also emphasized the necessity for a unified European approach to critical issues like the energy crisis and digital transformation, advocating for less regulation overall.
Following SAP’s strong third-quarter earnings report, which saw a record high in share price, the software company is optimistic about its future performance. SAP’s revenue for the quarter reached 8.5 billion euros, with a significant increase in cloud product sales. The company has revised its 2024 outlook for cloud and software revenue, operating profit, and free cash flow, reflecting its ongoing transition to cloud computing. SAP has been strategically investing in AI as part of its growth plan, following a restructuring initiative that affected 8,000 roles globally.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.
