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Siemens launches fresh AI reinvention drive to boost returns

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Siemens launches fresh AI reinvention drive to boost returns

Business News Tech AI Siemens launches fresh AI reinvention drive to boost returns

Starting Oct. 1, four units within the top division, Digital Industries, will combine into a single automation business. Connecting sales, technology and data across separate silos is designed to extract more value from software and AI layered onto Siemens hardware.

Siemens AG ’s Chief Executive Officer Roland Busch is launching a reorganization of the German industrial behemoth to mesh its digital and real-world products, part of a push to lift profitability closer to the elevated returns reaped by tech companies. Busch, who took charge of the 179-year-old firm in early 2021, wants manufacturing clients like Boeing Co. and Volkswagen AG to bundle different needs through a single touchpoint. These could be as diverse as connecting a plant to the grid to supplying the controls running machines and the software used to design and operate them. Starting Oct. 1, four units within the top division, Digital Industries, will combine into a single automation business. Connecting sales, technology and data across separate silos is designed to extract more value from software and AI layered onto Siemens hardware.

7% in Siemens. “That was something investors criticized for a long time: the lack of a companywide backbone,” Wolfram added. While the company’s push into industrial AI has helped make it one of Germany’s most valuable corporations, its margins still trail European competitors including Switzerland’s ABB Ltd. and are dwarfed by rivals like Honeywell International Inc. in the US. That’s prompting Busch to undertake another effort to revamp one of Germany’s oldest companies, founded in a Berlin backyard with 10 employees in 1847.


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