Europe’s established tech firms emerge as unexpected AI winners

The AI boom was widely expected to favour the new companies building the models. Recent earnings suggest it is some of Europe’s biggest, well-established technology groups that are emerging as AI beneficiaries.

SAP, Capgemini, Sopra Steria and OVHcloud have all reported stronger demand, faster growth or upgraded outlooks as companies move from experimenting with artificial intelligence to deploying it across their operations.

In the process, they discover that making AI productive inside a complex organisation is proving harder than gaining access to the technology.