Core Insights - The aerospace and defense giants are collaborating to create a new company focused on consolidating their space activities, which aims to enhance Europe's strategic autonomy [1] Group 1 - The initiative is a response to the growing need for Europe to strengthen its position in the global space industry [1] - The new company will likely lead to increased efficiency and innovation in space-related projects [1] - This move reflects a broader trend of consolidation within the aerospace and defense sector to better compete on a global scale [1]

By Foo Yun Chee and Inti Landauro BRUSSELS (Reuters) -The European Commission on Wednesday announced a 1-billion-euro ($1.1 billion) plan to ramp up the use of artificial intelligence in key industries amid a push to cut the European Union's reliance on U.S. and Chinese technologies. The EU executive's Apply AI strategy followed an action plan unveiled in April which seeks to lighten the regulatory burden and costs for startups struggling to comply with landmark AI rules which entered into force in Augus ...