The European Data Governance Act was adopted by Parliament of the EU after a long debate, on 6 April 2022.
The new legislation aims to boost data sharing in the EU, so that companies and start-ups will have access to more data that they can use to develop new products and services. Access to big data is crucial to exploiting the potential of artificial intelligence.
“Data only has value if it is aggregated, refined and used in the right way,” said Angelika Niebler, MEP (EPP, Germany), who steered the legislation through Parliament. “Some businesses might not even know what can be done with data from, for example, their industrial machines. Through more data sharing new business models can emerge, more efficiency can be achieved or products can be improved.”
With new data sharing legislation, businesses will also benefit from a lower cost of data and lower market entry barriers, allowing them to place their products faster.
Data can also benefit consumers by ensuring smarter energy consumption, which can help lower emissions. It might also allow for personalised medicines. “The possibilities are virtually limitless,” said Niebler.
If the European Data Governance Act is of interest to you, do feel free to contact the Secretariat of EurEta for further information!