Post by Otto Group

We are investing 350 million Euros in Tech and #AI in Europe over the next three years. This was announced today by Petra Scharner-Wolff, CEO of the Otto Group, at the Franco-German Summit on European digital sovereignty. As one of the 110+ supporting companies and organizations of the EU AI Champions Initiative, we believe that AI offers unprecedented opportunities for economic progress and strategic autonomy. We need to achieve digital sovereignty in the EU and we need to develop more of our own capabilities in Europe. And with our investments in Tech and AI, we are doing our part. Petra Scharner-Wolff: "With strong German and European roots, we recognize that the retail landscape is on the cusp of a revolution, and we are prioritizing it. As the largest online retailer of European origin, we are drawing on our strength and market significance to shape the digital retail and services of the future. Our €350 million investment in future technologies, such as GenAI, over the next three years underscores our dedication to leading this next e-commerce revolution in Europe, with a people-first approach to AI that benefits all. We believe in AI for a strong Europe – AI that serves people, enables innovation, and strengthens Europe, ensuring a future where technology empowers both businesses and individuals." #ItsOnEurope