Plus: SAP shares rise after earnings beat. And CATL profit surges on booming battery demand. Imani Moise hosts.
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[00:00:00] [SPEAKER_02] Countless companies invest in AI tools without tying them to tangible business outcomes. Join McKinsey later to learn how leaders rewire their organizations for sustained impact and value.
[00:00:14] [SPEAKER_00] Here's your TNB Tech Minute for Friday, July 24th. I'm Imani Moise for The Wall Street Journal. The European Union has said TikTok may be in breach of the bloc's digital safety rules for minors. The European Commission said minors can currently choose to set their accounts as public, allowing any user to see their content. And in the case of 16 and 17-year-olds, have their content recommended through TikTok's 4U feed. The regulator said the feature potentially gives strangers a window into a child's life,
[00:00:43] [SPEAKER_00] and that the settings could expose young users to cyberbullying and unwanted contact. TikTok says accounts for users under 18 are private by default and include more than 50 preset privacy and safety features. The company said it will review the regulator's findings and that it's committed to protecting minors. Shares in SAP, Europe's largest software company, are up more than 6% after it reported better-than-expected results yesterday.
[00:01:09] [SPEAKER_00] It was the latest in a string of reassuring updates from software companies whose stocks were punished in a freakout over AI disruption to software-as-a-service providers. The company behind the Concur and travel expense management platform said its current cloud backlog, a closely-watched measure of sales that SAP expects over the coming year based on existing contracts, grew 26% at constant currencies, above expectations of around 24%.
[00:01:35] [SPEAKER_00] And the world's largest battery maker reported another strong quarter as demand for energy storage continues to boom. Contemporary Amperex technology said first-half profit jumped 42% from a year ago, while revenue climbed 55%. The Chinese company has benefited from growing demand for batteries using data centers and renewable energy projects, helping offset slowing electric vehicle sales.
[00:01:58] [SPEAKER_00] It is also expanding overseas, ramping up production at a new factory in Hungary, and growing its battery-swapping infrastructure in Europe as it looks to sustain its rapid growth. And that's your TNB Tech Minute. We'll be back this afternoon with more.
[00:02:13] [SPEAKER_02] AI transformation is more than a tech initiative. It requires a broader rewiring of human skills and ways of working. Here's Dan Swann, senior partner at McKinsey.
[00:02:22] [SPEAKER_01] One of the biggest unlocks we see is the human being capabilities around the technology. Whereas before you may need to be really good at analysis, now the skill might be how do you prompt these tools to get the right answers and outcomes. And so for us, it's a really big priority to help companies to understand how do you need to change the operating model of your organization and change the underlying capabilities of the people that are interacting with the technology. And when you see that all humming together, it can be really, really special.
[00:02:53] [SPEAKER_02] Discover how McKinsey helps organizations rewire to out-compete with AI at McKinsey.com slash techmoves.
[00:03:00] [SPEAKER_01] This content was created by Custom Content from WSJ, a unit of the Wall Street Journal Advertising Department.