Europe to invest €4-6bn for single market data strategy

The European Commission announced a single market data strategy that will make more data available for use in the economy and society, while keeping those who generate the data in control, according to a recent release.

The EU will create a single market for data where: data can flow within the EU and across sectors, for the benefit of all; European rules, in particular privacy and data protection, as well as competition law, are fully respected; and the rules for access and use of data are fair, practical and clear.

The EU expects to become an attractive, secure and dynamic data economy by setting clear and fair rules on access and re-use of data and investing in next-generation standards, tools and infrastructures to store and process data. In addition, the EU will join forces in European cloud capacity, pool European data in key sectors and with EU-wide common and interoperable data spaces as well as give users rights, tools and skills to stay in full control of their data.

“With the right policies and adequate investment from the Commission, Member States and businesses, Europe can seize the opportunities associated with this paradigm shift and become a leader in data,” according to the presentation. The EC expects €4-6 billion to be invested in total in common European data spaces and a European federation of cloud infrastructure and services.

Read the presentation

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