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Digital Version Artificial Intelligence (AI) is no longer a futuristic concept. It is the driving force behind a new wave of transformation across industries, economies, and societies. For Europe’s small and medium-sized enterprises (SMEs), this transformation presents both a major opportunity and a significant challenge. At the center of this movement stands Sebastiano Toffaletti, Secretary General of the European DIGITAL SME Alliance, who has become one of Europe’s most influential voices in advocating for a fair, sovereign, and inclusive AI ecosystem. Leading the largest network of tech SMEs in Europe, representing over 45,000 innovative companies through national and sectoral associations, Toffaletti is championing a vision that goes beyond technology adoption. His mission is to ensure that AI becomes a tool for empowerment, sovereignty, and sustainable growth across Europe’s SME landscape. Redefining the Role of SMEs in the Age of AI For Toffaletti, Artificial Intelligence is not simply a technological shift. It is redefining the very nature of competitiveness and innovation. “AI is redefining competitiveness for every business, but for SMEs, it is not just about adopting new tools; it is about reimagining their place in the digital economy,” he explains. More than half of Europe’s creative companies, including those in gaming, audiovisual, and media, already use AI tools. However, other sectors such as industry and healthcare are still behind, with adoption rates averaging only 13 percent. This imbalance highlights both the challenge and opportunity ahead. Toffaletti believes that the most sustainable way forward for small enterprises is not total dependence on large foreign AI systems but rather developing and training their own smaller, specialized language models. Open Source models are a good solution: They can be tailored to the company’s specific needs and data, and hosted securely in local cloud environments. “If Europe ensures access to trustworthy, interoperable, and open AI solutions, SMEs can turn today’s technological dependency into tomorrow’s sovereignty opportunity, transforming Europe from a user to a producer of advanced AI,” he emphasizes. A Vision Rooted in Sovereignty and Responsibility Sebastiano’s commitment to empowering SMEs through AI stems from a simple yet powerful observation. Innovation often begins in small companies, but the ecosystem tends to favor large incumbents. “I have seen too many small innovators struggle and fail to exploit their potential because they depend on non-European infrastructures for computing, cloud, and data,” he reflects. This reality inspired him to become a strong advocate for the responsible and sovereign adoption of AI within the SME ecosystem. Under his leadership, DIGITAL SME has been promoting a European approach that combines technological independence, open ecosystems, and ethical responsibility. Over time, his vision evolved from raising awareness to building the infrastructure necessary to achieve technological sovereignty. “I was among the originators of the EuroStack movement, which brings together innovators, policymakers, and industry leaders around one goal: enabling Europe to build its own digital and AI stack, from chips to cloud to models. It is about ensuring that SMEs can innovate confidently, using European technologies built on European values,” he explains. Unique Challenges and Hidden Advantages for SMEs Integrating AI poses unique challenges for smaller companies compared to larger corporations. Toffaletti outlines three major barriers: limited access to data, lack of affordable computing infrastructure, and a shortage of AI talent. Europe’s data protection regulations, though important for privacy, often create uneven conditions for smaller innovators. “Although European privacy laws have done little to stop U.S. and Chinese tech giants from tapping into citizens’ data, they still present major hurdles for smaller, emerging players,” he says. Moreover, valuable industrial and machine-generated data is often locked away by manufacturers that aim to protect market dominance, which prevents fair competition and innovation. Computational power, a critical component for training AI models, is another major obstacle, with most resources still concentrated in the hands of global hyperscalers. Meanwhile, Europe continues to experience a shortage of skilled AI engineers and data scientists. Despite these challenges, Toffaletti points out that SMEs have one undeniable advantage: agility. “They can innovate faster, experiment with open-source models, and deploy edge AI without the bureaucratic inertia of large corporations,” he says. His advice to smaller companies is practical and forward-thinking. “Run lightweight and air-gapped AI tools on local clouds. The greatest opportunity for SMEs lies in decentralized AI, where they can train models close to the data source and lead innovation in their domains, from smart farming to industrial robotics.” DIGITAL SME: Empowering AI Adoption Across Europe Under Toffaletti’s leadership, the European DIGITAL SME Alliance has become a cornerstone of Europe’s AI transformation efforts. The organization leads numerous EU initiatives designed to make AI more accessible to smaller innovators. Through programs such as Testing and Experimentation Facilities (TEFs), AI-on-Demand, and the European Digital Innovation Hubs Network, DIGITAL SME connects SMEs with essential resources such as research, datasets, funding, and technical expertise. These networks, which include more than 150 hubs across Europe, offer services in data management, ethical AI testing, and support for AI deployment. “We also advocate for fair access to public funding and data spaces in programs such as Digital Europe and Horizon Europe,” he adds. “As the recent EU Apply AI Strategy notes, many actions, from AI for the public sector to the AI Continent Action Plan, will only succeed if SMEs are fully involved.” DIGITAL SME’s Focus Group on AI further strengthens this mission by enabling hundreds of small companies to co-create policy proposals, share technical knowledge, and test ethical frameworks. “We are turning dialogue into deployment,” Toffaletti says proudly. Building Inclusive Growth Through Open AI Infrastructures Artificial Intelligence has the power to drive both innovation and disruption. Ensuring inclusive growth remains one of Europe’s biggest challenges. “Inclusiveness starts with architecture, not afterthought,” says Toffaletti. “If AI infrastructures are open, interoperable, and affordable, SMEs will naturally be part of the growth story.” The real risk, he warns, comes when AI becomes concentrated in the hands of a few hyperscalers that control not only the models but also the compute and data pipelines. To prevent this, DIGITAL SME continues

Digital Version In the ever-evolving world of enterprise technology, leaders who bring both vision and empathy to innovation stand apart. Among these trailblazers is Rani Pangam, Vice President of Product Management & Customer Impact at ServiceNow, whose journey exemplifies resilience, adaptability, and a relentless commitment to shaping technology that transforms work and customer experience.   With a background spanning business, law, risk, and compliance, Rani brings a unique lens to product leadership—one that is rooted in accountability and trust while being firmly focused on the future of digital transformation. As she continues to guide ServiceNow’s mission of revolutionizing workflows and empowering enterprises globally, her leadership is a testament to how innovation and impact intersect.   A Non-Linear Journey into Technology Leadership   When asked how her journey shaped her vision for technology-driven customer experiences and what inspired her to pursue leadership in tech, Rani reflects on the unconventional path she took:   “My journey into digital innovation wasn’t linear—I studied business, earned a law degree, and began my career in the risk, security, and compliance world. Those early roles gave me a deep respect for accountability and trust. As digital transformation gained momentum, I saw enterprise solutions weren’t just shaping organizations and outcomes, but reshaping entire industries. That inspired me to grow as a leader in this space.   What drew me in was a simple belief: innovation should make life easier. Too often, I saw organizations drowning in complexity instead of focusing on serving their customers. That fueled my conviction that technology should dissolve friction, simplify work, and amplify human potential.   This led me to where I am today—helping customers succeed with digital platforms, creating impact by connecting innovation to real business outcomes. Helping customers bridge that gap—between new capabilities and measurable results—is what drives me every day.   What continues to inspire me? Building solutions that don’t just work but transform how people experience work itself!”   Innovation Aligned with Customer Needs   Rani occupies a distinctive position at the intersection of product management and customer impact. For her, innovation is only as valuable as its ability to deliver real-world outcomes. At ServiceNow, she leads the Customer Zero strategy (Now on Now), which embeds this philosophy at the very core of the company’s operations.   “At ServiceNow, I lead our Customer Zero strategy (what we call Now on Now)—where we battle-test our own products internally, at enterprise scale, before they reach customers. We don’t just design and build features; we live them. We see firsthand where friction exists, how workflows scale, and how quickly ROI can be realized.   That Customer Zero practitioner experience is incredibly powerful. We go to our customers not just with theory, but with real world validation. We share best practices from our own journey, callout pitfalls to avoid, and highlight the value we’ve unlocked. In doing so, we build trust and connect with customers as peers.   This strategy also makes us a living customer reference. When we tell customers about our own experiences that accelerate outcomes—it’s grounded in our own data and experience. That combination of internal mission, customer empathy, and co-creation ensures that internal product adoption translates into meaningful business outcomes.”   The Trends Reshaping Enterprise Technology   Looking at the enterprise technology landscape today, Rani identifies three forces she believes are fundamentally reshaping the way organizations operate:   “I believe there are these forces reshaping the enterprise today:   Agentic AI: We’re moving past the era of AI as a mere predictor and enabler. AI is able to act autonomously with humans mitigating risk, making adjustments, and proving structure. These intelligent AI agents—an Agentic Workforce—can execute entire workflows end-to-end: resolving incidents, processing transactions, orchestrating multi-step service requests—while escalating exceptions or ensuring quality checks are done by humans. This frees people to focus on what we do best—innovation, empathy, and strategy. Data as foundation: Connected, trusted, real-time data is the lifeblood of intelligent workflows. Without data, AI can’t deliver and automation can’t scale. Smart workflows as the glue: End-to-end workflows are how organizations break silos, orchestrate work across the enterprise, and deliver seamless experiences. ServiceNow is at the intersection of these forces. ServiceNow’s AI Platform brings AI, data, and workflows together in one place. With intelligence directly embedded into processes, and access to data across the entire enterprise, work doesn’t just move faster—it moves smarter. Employees gain guided, context-aware experiences, customers get proactive service, and leaders get foresight, instead of hindsight.   The result isn’t just efficiency—it’s real transformation.”   Navigating Challenges as a Female Leader in Tech   Rani’s journey as a leader is also shaped by the unique challenges she has faced as a woman, and an immigrant, “My story begins as a first-generation immigrant to the US. I came here for higher education on a shoe-string budget, navigating both cultural and financial hurdles along the way. When I entered tech, I was often ‘the only’—the only woman, the only immigrant in the room.   It wasn’t easy. It meant working harder to prove yourself, building resilience in the face of doubt, and learning to anchor myself in preparation and performance. But those experiences also gave me perspective: the courage to speak authentically, the empathy to mentor others navigating similar paths, and the determination to build inclusive environments where ‘the only’ can become ‘one of many.’   Empowering women in tech, for me, isn’t abstract. It’s about mentoring early-career professionals, sponsoring talent for stretch roles, and ensuring diverse representation at decision-making tables. Because when leaders open doors, opportunity multiplies—not just for individuals, but for the entire industry.”   Driving Customer Success Through Leadership   Among her many achievements, Rani highlights one initiative that stands out as a defining moment in her career:   “One of my proudest moments came through our Customer Zero strategy. A Fortune 50 multinational was at a crossroads, evaluating vendors for a massive transformation. I was able to influence their decision by reframing how they thought about the journey—not just technology adoption, but organizational transformation,

Digital Version In an era where artificial intelligence, real-world data, and digital health tools are rewriting the rules of medicine, few leaders stand as clearly at the intersection of technology, healthcare, and societal impact as Meni Styliadou, Vice President and Global Program Leader for Health Data Partnerships at Takeda. Her career journey reflects an enduring theme: creating impact that transcends industries and touches lives. From her early work enabling broadband infrastructure across Europe to her present mission of building trusted frameworks for health data collaboration, Meni’s path is defined by curiosity, conviction, and the belief that innovation in healthcare must begin and end with people. As part of our special feature “Top Pharma & Biotech Leaders to Watch in 2025,” we had the opportunity to explore her vision, her leadership philosophy, and the initiatives she is driving that may well shape the future of life sciences. From Technology to Healthcare: A Journey Driven by Societal Impact When asked what first drew her into the world of healthcare and data, Meni recalls that the seeds were planted much earlier in her career. “There’s a common theme throughout my career: creating societal impact,” she reflects. In the first half of her professional life, she worked in technology, focused on enabling broadband to scale across Europe. The mission was ambitious—removing policy barriers and building the infrastructure that would connect people at scale. While the results were transformative for many sectors, Meni noticed something that unsettled her. “The sector that could benefit most from this leap forward—healthcare—was not making use of it. That question stayed with me: why isn’t health fully benefiting from technology?” When the opportunity arose to transition into healthcare, Meni embraced it. That curiosity evolved into a guiding motivation. Today, she sees the same fundamental challenge: digital tools, whether AI or others, are only as effective as the data they are trained on. And the healthcare sector still struggles with how it generates, governs, and applies data. Her current role at Takeda is dedicated to addressing that gap head-on. Building Health Data Partnerships at Takeda Takeda’s deep-rooted focus on innovation and putting patients first resonates strongly with Meni’s personal vision. Her mission is built on a clear but transformative principle: large-scale healthcare innovation is only possible when supported by trusted data collaborations. “At Takeda, we believe that true innovation in health requires the ability to analyse data at scale,” she explains. “That is only possible when stakeholders are willing to share data in trusted frameworks, with the right governance and access models in place.” Her mandate is to build those partnerships—creating the governance, trust, and collaboration required to unlock the full potential of health data. This is not merely conceptual. Meni points to one initiative that embodies this work: the Health Outcomes Observatory (H2O). Launched initially as an Innovative Health Initiative-funded public-private partnership, H2O has since matured into a pan-European independent body. Its mission is clear: empower patients to systematically capture and share their health outcomes in standardized, transparent ways. By doing so, it enhances the dialogue between patients and their clinicians while also enabling regulators, researchers, and industry to use this data responsibly for advancing care. “Efforts like this are fully aligned with Takeda’s vision,” she says. “To put patients at the center, advance science responsibly, and drive innovation that is meaningful in the real world.” Unlocking the Power of Real-World Data Traditional clinical trials have long been the gold standard for evaluating treatments. Yet Meni emphasizes that they operate under controlled conditions that rarely reflect the complexity of real life. “If we want to achieve actual breakthroughs in healthcare, the type of data that we can capture in the real world is much richer than what we capture in clinical trials,” she explains. “In everyday life, patients have multiple conditions, take other medicines, and live in varied environments. Real-world data fills that gap. It helps us understand how treatments truly work in practice, identify trends, and even uncover unexpected links between conditions.” However, a challenge remains. Regulators and health technology assessment bodies have often been cautious about real-world evidence—not because methodologies lack rigor, but because reliable data has not been available at scale. That is precisely what Meni’s team is working to change. “We are building the structures, governance, and incentives needed for stakeholders to generate standardized, high-quality patient outcomes data. Only then can real-world evidence give voice to patients and drive our decision-making.” Navigating the Challenges of Data Partnerships While the benefits of health data partnerships are evident, forging them is not without obstacles. Meni is candid about the complexity. “True collaboration only succeeds when it creates shared gains for all stakeholders. You can’t convince stakeholders to collaborate unless it’s clear that by coming together, we will create something bigger than any one of us could achieve alone.” She highlights that effective partnerships rely on robust governance, clear transparency, and inclusive decision-making with all parties involved. She acknowledges that managing partnerships is often more complex than leading a single organization. Yet she likens the approach to Switzerland’s enduring consensus-based system: complex but remarkably durable. “She highlights that it remains the most effective route to drive enduring change and real value. Embedding Ethics and Governance from the Start Ensuring ethical, private, and well-governed use of data is now a top priority in the digital age. For Meni, these are not add-ons but the foundation of any project. “From the very beginning of my career, I’ve put societal expectations, ethics, and governance at the core of my thinking. I don’t think of governance as something to ‘fix’ afterwards, but as the foundation on which a project is built.” This philosophy extends beyond compliance with existing standards. Takeda and its partners actively engage in shaping emerging frameworks to ensure data can be shared responsibly, with patient privacy and control protected. “By embedding these principles upfront, we can be pioneers in shaping how global standards evolve,” she says. Fostering Trust Across Diverse Ecosystems Takeda’s partnerships bring together regulators, academic institutions, technology innovators, and

Digital Version In the complex, high-stakes world of financial services, operational excellence is rarely the result of chance. It is forged through years of dedication, adaptability, and a deep understanding of both systems and people. Few embody this truth as vividly as Mark Williams, Operations Manager at Charteris Treasury Portfolio Management Ltd (CTPM). Over a career spanning nearly two decades at the same firm, Williams has witnessed—and helped shape—a period of transformation not only for Charteris but for the wider asset management landscape. His journey from an entry-level role to the heart of the company’s operations is one of resilience, loyalty, and an unwavering commitment to client outcomes. From the Ground Up: Developing a Firm Foundation in Financial Skills Williams joined Charteris Treasury Portfolio Management Ltd seventeen years ago, starting in a role that he candidly admits was “by no means glamorous.” His early days were spent performing tasks that many might have overlooked—fetching coffee, handling menial duties, and providing support wherever needed. But for Williams, this was never about the title. It was about proving value. “He recalls making it a habit to arrive before everyone else and leave after the rest of the team. “Over time, I built my skillset, adapted to new challenges, and earned the trust of my colleagues.” That trust would prove pivotal. With the firm’s encouragement and belief in his capabilities, Williams transitioned into the role of Operations Manager—effectively becoming the backbone of the company’s day-to-day functionality. Today, his responsibilities are far-reaching, touching every aspect of the business to ensure it operates seamlessly. Aligning Processes with Client-Centric Outcomes In an industry defined by shifting markets and stringent regulations, operational strategy cannot be static. For Williams, the key lies in designing systems from the ground up—systems that are adaptable, robust, and firmly rooted in the needs of clients. “Our internal processes are built to evolve alongside both the client and the regulatory environment,” he explains. Regular meetings, comprehensive file reviews, and meticulous note-taking ensure the firm remains aligned with client aims and objectives. This attention to detail extends beyond internal records—Charteris provides clients with online access to their portfolios, enabling them to see real-time market movements and track whether the firm is delivering on its commitments. “It’s about making the client feel involved,” Williams explains, “When individuals have direct access to the data, they feel more engaged in the process.” Navigating Challenges—With Transparency and Resilience The financial services industry is no stranger to complexity, but for Williams, one of his most personal challenges has been navigating his career while managing a neurological disorder. “Many might see it as a barrier to progress,” he notes. “For me, the key has been transparency.” By openly communicating his needs, he has helped foster a workplace culture of understanding and adjustment—something that aligns with the UK’s Parliamentary Equality Act of 2010. Coupling this personal challenge with the sector’s ever-evolving regulatory demands could have been daunting. Yet, Williams and the wider Charteris team have embraced continuous personal development (CPD) as a way to stay ahead. Through continuous training, the firm ensures regulatory compliance and fosters trust in its operations—a commitment that earned Charteris recognition for Excellence in Diversity and Inclusion at the 2025 City of London Wealth Management Awards. Operational Excellence in Support of Market-Leading Strategies Charteris has built a strong reputation for its specialist portfolio services, particularly its Gold & Precious Metals product, which has garnered industry-wide praise. Behind the investment success lies a sophisticated operational engine—one that Williams has played a pivotal role in developing. “We’ve built proprietary in-house systems to manage everything from price movements to FX rates, dividend collections, and liquidity testing,” he explains. These tools are not just about efficiency—they are essential for delivering the precision clients expect. “Our clients trust us with their financial goals, and that trust demands operational discipline,” Williams says. This operational strength has supported the firm’s investment team in winning accolades such as the 2024 Citywire Wealth Management Award for Best Portfolio Manager in the Bonds – Sterling Strategic Bond category. Balancing Technology with Human Insight In an age where digital innovation is reshaping every industry, Williams is clear-eyed about technology’s role in portfolio management. “You can’t ignore tech innovations—but you also can’t become overly reliant on them,” he warns. “If you do, you risk forgetting the operational ‘how,’ ‘what,’ and ‘why.’” At Charteris, data is always reviewed manually before regulatory sign-off. This dual approach—leveraging technology while maintaining human oversight—ensures accuracy and deepens understanding. In financial markets, where milliseconds can make a difference, automation has its place. Algorithms can execute trades instantly, sometimes giving clients a vital edge. But Williams insists that technology should always serve human decision-making, not replace it. Building a Culture of Continuous Improvement Operational excellence goes beyond systems—it starts with people. Williams takes pride in the firm’s rigorous CPD program, which extends beyond technical skills to include ethics, personal conduct, and anti-money laundering training. “This isn’t just about compliance—it’s about maintaining the highest possible standards,” he says. The firm’s independent compliance adjudicator evaluates both skillsets and ethical conduct, reinforcing a culture where excellence is holistic, not one-dimensional. Staying Ahead of Trends Through Two-Way Communication For Williams, anticipating market trends and client needs is not about guesswork—it’s about dialogue. “Expectations are a two-way street,” he explains. “Clients rightly demand high standards from us, but we also expect them to be clear about their goals, concerns, and any ethical considerations in their investment preferences.” By fostering transparent communication, Williams ensures Charteris can adapt quickly when client circumstances change. This synergy between business and client reduces friction and strengthens long-term relationships—an increasingly valuable commodity in a world of heightened transparency. Milestones in Modernising Operations Over his tenure, Williams has led several initiatives that have left a lasting impact on Charteris’ efficiency and client service. One of the most significant has been the firm’s digital transformation—from creating a responsive website to building a social media presence that reflects the firm’s expertise and accessibility. He also spearheaded the development of a systems