SAP boss warns against regulating AI, says Europe risks falling behind U.S., China

Published On Oct 22, 2024, 8:11 AM

Christian Klein, CEO of SAP, warned that Europe risks lagging behind the U.S. and China if it enforces heavy regulations on artificial intelligence (AI). He stressed that overregulation could hinder European startups' ability to compete globally. Instead of regulating the technology itself, he advocates for a focus on the outcomes of AI, suggesting that a harmonized approach towards digital transformation is more beneficial. Klein's comments followed SAP's strong third-quarter earnings report, where revenue grew by 9%, buoyed by a 25% increase in cloud sales.

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Given the positive earnings report and the CEO's strong stance advocating for less regulation, SAP seems well-positioned for continued growth, particularly in the cloud computing sector.

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