Unleashing the power of data

Data has been defined as the new oil of the digital economy. [Shutterstock]

Data is the critical resource of the digital age. As data is an inextricable part of virtually all digital technologies, Europe’s approach to data governance will largely affect EU digital priorities.

The way data is managed, stored and processed in compliance with data protection law will be a defining point for the development of cutting-edge technologies such as Artificial Intelligence and cloud computing. Data flows have become the underlying layer of international trade, with economically devastating effects when they are restricted.

The AI Act and Data Governance Act currently under discussion will play a key role in defining data governance in the EU. The COVID pandemic has highlighted in particular the need to exploit the untapped potential of European data spaces in managing health emergencies and fostering health research.

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