Siemens, SAP CEOs Urge EU to Revise AI Legislation Hindering Innovation

The CEOs of Siemens and SAP have strongly criticized the European Union's current AI and data legislation, particularly the AI Act and Data Act, arguing that these laws stifle innovation and hinder Europe's global competitiveness in technology. Siemens CEO Roland Busch described the Data Act as "toxic" for developing digital business models, emphasizing that the main barrier in Europe is not access to computing capacity but restrictive data usage rules. Both leaders stressed that Europe is sitting on a "treasure trove of data" that remains untapped due to these regulations. They urged the EU to revise the regulatory framework to better support technological progress rather than imposing overlapping and sometimes contradictory rules. SAP CEO Christian Klein warned against simply copying the U.S. approach of heavy investment in infrastructure without first reforming data access laws. Despite calls by some tech giants for a delay in implementing the AI Act, Busch declined to support these, stating the proposals did not adequately address the fundamental issues.