Companies Are Warming Up to Saying AI Is the Reason for Job Cuts

The European Union has announced a comprehensive plan to streamline digital regulations aimed at enhancing competitiveness in the artificial intelligence sector and supporting local tech companies. This initiative reflects the EU's commitment to fostering innovation and reducing bureaucratic hurdles for technology firms.

Nokia Oyj is focusing on the growing demand for artificial intelligence by streamlining its business operations to enhance networking infrastructure that connects AI data centers. This strategic shift aims to position Nokia as a key player in the AI infrastructure market.

French President Emmanuel Macron announced that Germany and France are seeking to postpone the implementation of certain provisions of the European Union's AI Act, which regulates high-risk artificial intelligence systems, by one year. This decision reflects concerns over the readiness and implications of such regulations on the technology sector.

Raith, a German supplier of nano-technology for critical sectors like quantum computing, is considering a sale that could value the company at approximately €1 billion ($1.2 billion). The private equity owner is exploring this option amid growing interest in quantum technologies, which are becoming increasingly vital in various industries.