BRUSSELS - The European Union wants to create a single market in data aimed at challenging the dominance of tech giants such as Facebook, Google and Amazon, according to a European Commission proposal seen by Reuters.
"Currently a small number of big tech firms hold a large part of the world's data. This is a major weakness for data-driven businesses to emerge, grow and innovate today, including in Europe, but huge opportunities lie ahead," a paper laying out the proposal said."Competitors such as China and the U.S. are already innovating quickly and projecting their concepts of data access and use across the globe," it said.
Measures to achieve that goal include an array of new rules covering cross-border data use, data interoperability and standards related to manufacturing, climate change, the auto industry, healthcare, financial services, agriculture and energy. The document also proposed scraping relevant competition rules which hinder data sharing and possibly introducing rules to prevent large online platforms from unilaterally imposing conditions for access and use of data or benefiting in a disproportionate manner.
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Source: BusinessTimes - 🏆 15. / 51 Read more »