New rules of the EU Commission on the use of data generated in the Union, with a real Data Act for the use and access to data in all economic sectors. The goal is to ensure equity in the digital environment, stimulate a competitive data market, open opportunities for data-driven innovation and make data more accessible for all. “We want to give consumers and businesses even more control over what can be done with their data by making it clear who can access the data and under what conditions,” Vice President Margrethe Vestager said in a statement.
The Data Act (data law) is the second European regulatory initiative after the Data Governance Act (data management law approved in November): while the latter creates procedures and structures to facilitate the sharing of data by companies, individuals and the public sector, the Data Act clarifies who can create value from data and under what conditions. The European Commission has published its proposal and now it will be up to the Council and Parliament to decide. The goal is to remove barriers to accessing data whose value is currently not being reaped due to a number of factors. In summary, there is no clarity regarding the possibility of using and accessing the data generated by the products; SMEs are often unable to negotiate balanced data sharing agreements with stronger market players; too many obstacles to the transition between competitive and reliable cloud and cutting-edge services; limited ability to combine data from different sectors.
The Brussels objective is to clarify who can use and access the data generated in all economic sectors; lead to new and innovative services and more competitive prices for ‘aftermarket’ services and related item repairs. This is something that, according to the Commission, will play a key role in the digital transformation. Industry chief Thierry Breton says a vast array of industrial data will be unlocked for the benefit of businesses, consumers, utilities and society as a whole. So far only a small fraction of industrial data is used and the potential for growth and innovation is enormous. The Data Act will ensure that industrial data is shared, stored and processed in full compliance with European standards. It will be the cornerstone of a strong, innovative and sovereign European digital economy ”.