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☆ 'Stupidity' poses a bigger threat than AI, CEO of Italian defense giant Leonardo says
▼ + stars: | 2024-03-01 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Roberto Cingolani, chief executive officer of Leonardo SpA, during an interview in London, UK, on Tuesday, Jan. 23, 2024. The chief executive of Italian defense group Leonardo said Friday that he's more concerned about the "stupidity" of users of artificial intelligence rather than the threats posed by the technology itself. "With this in mind, artificial intelligence is a tool. It is an algorithm made by humans, that is run by computers made by humans, that controls machines made by humans. I am more afraid, more worried [about] national stupidity than artificial intelligence to be honest," he added.

Persons: Roberto Cingolani, Leonardo SpA, Leonardo, he's, António Guterres, Guterres, CNBC's Organizations: U.N, Economic, International Monetary Fund, D.C Locations: London, Davos, Switzerland, Washington

☆ Leonardo CEO says fragmentation does not help European defence
▼ + stars: | 2024-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLeonardo CEO says fragmentation does not help European defenceRoberto Cingolani, CEO of defense group Leonardo, argues for focused and robust investment into a unified European defence platform.

Persons: Leonardo, Roberto Cingolani

☆ Leonardo CEO discusses the 'big technology challenge' facing the defense sector
▼ + stars: | 2024-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLeonardo CEO discusses the 'big technology challenge' facing the defense sectorRoberto Cingolani, CEO of Leonardo, discusses the European defence firm's full-year earnings, how the sector should move from weaponry to security, and how AI and digitalization could affect the industry.

Persons: Leonardo, Roberto Cingolani

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsROME, Nov 15 (Reuters) - Italy's Leonardo (LDOF.MI) is trimming its stake in U.S. unit DRS (DRS.O) as new CEO Roberto Cingolani looks to expand the state-controlled group with major roles in European defence projects. Two sources at Leonardo confirmed that the DRS deal was part of that strategy. Cingolani, a former government minister who became CEO in May, has embraced the need to create broader European alliances to take advantage of rising defence budgets. It has pointed to its cross-border MBDA European missile company joint venture with Airbus (AIR.PA) and BAE Systems (BAES.L) as a model for the projects. Some analysts expressed surprise that the company was reducing its stake in DRS, acquired 15 years ago in a $5.2 billion deal when the Italian group was known as Finmeccanica.

Persons: Leonardo, Dado Ruvic, Roberto Cingolani, Cingolani, Intesa Sanpaolo, Leonardo's, Nick Cunningham, Giulia Segreti, Armellini, Kirsten Donovan Organizations: REUTERS, Rights, DRS, Global Combat Air, Leopard, Airbus, BAE Systems, Agency Partners, Thomson Locations: U.S, East, Europe, Italy, Britain, Japan, Leonardo's Milan, Italian, Rome

☆ Italy, Europe need state-controlled cloud services - Leonardo chief
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

ROME, Oct 25 (Reuters) - Italy and other European countries need government-controlled cloud services to store sensitive data, the head of Italian defence and electronics firm Leonardo (LDOF.MI) said on Wednesday, calling it "one of the key issues of our future". "In my opinion, a safe country needs a government cloud, at least for financial, health and defence data," Chief Executive Roberto Cingolani told a hearing at the defence committee of the Italian lower house of parliament. First of all creating a (national) government cloud. Then understanding that these (national) government clouds need to become European government clouds," he said. Leonardo, a listed company controlled by the Italian government, offers cloud services to the Italian state through a consortium including Telecom Italia (TLIT.MI), Italian state lender CDP and state-owned IT firm Sogei.

Persons: Leonardo, LDOF.MI, Roberto Cingolani, Cingolani, Alvise Armellini, Mike Harrison Organizations: Telecom Italia, Thomson Locations: Italy, Europe

☆ Italy's Leonardo to focus on 'bytes and data', new CEO says
▼ + stars: | 2023-07-28 | by ( Alvise Armellini | ) www.reuters.com time to read: +2 min

ROME, July 28 (Reuters) - Italy's state-controlled defence and aerospace group Leonardo (LDOF.MI) needs to focus on the fast-growing cybersecurity and space sectors to keep up with industry trends, its new CEO said on Friday. "Defence is increasingly made with bytes and data, instead of bullets," Cingolani said during a call with analysts, announcing a new industrial plan that will be unveiled in early 2024. In the first half of 2023, Leonardo's new orders rose to almost 8.7 billion euros ($9.60 billion), up 18.9% year-on-year, while group net debt fell to 3.6 billion euros from 4.8 billion euros in the first half of last year. H1 revenues were up 4.8% to just under 6.9 billion euros, while earnings before interest, taxes depreciation and amortisation (EBITDA) rose by 3.5% to 703 million euros. Leonardo's confirmed guidance for 2023 includes a forecast for new orders at around 17 billion euros, revenues in the 15-15.6 billion euro range, EBITA at 1.26-1.31 billion euros and group net debt of about 2.6 billion euros.

Persons: Leonardo, Roberto Cingolani, Cingolani, Leonardo's, Alvise Armellini, Gavin Jones, Deepa Babington Organizations: Defence, Thomson Locations: Ukraine, Italy, Britain, Japan, Leonardo's Milan

The most surprising appointment was that of the new Enel chief Flavio Cattaneo, a seasoned corporate manager who leaves his role as vice president of high-speed train operator Italo to lead the country's biggest utility. He leap-frogged Stefano Donnarumma, the current chief executive of power grid Terna (TRN.MI), widely seen as Meloni's first choice. Enel shares were down 4% on Thursday, with investors fretting over Cattaneo's lack of expertise in the renewable energy sector. Leading politicians in Meloni's right-wing coalition said this issue was a major stumbling block for Donnarumma, along with pressure from League chief Salvini, a strong supporter of Cattaneo. Besides concessions on Enel, Meloni kept a tight grip on the rest of the main appointments.

Leader of Brothers of Italy party Giorgia Meloni attends the fourth voting session to elect the new speaker, at the lower house of parliament, in Rome, Italy, October 14, 2022. Giorgetti, the industry minister in Mario Draghi's outgoing government, is considered to be one of the League's most moderate and pro-European figures. Coalition sources said energy-related matters are likely to remain in the hands of the ecological transition ministry. The frontrunner to succeed technocrat Roberto Cingolani in the job is Gilberto Pichetto Fratin, a coalition source said. Brothers of Italy's Adolfo Urso, previously head of the parliamentary committee on security, is the frontrunner for the position, one source said.

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