After passing the Data Governance Act in 2020 and aimed at establishing a framework for shared information, this week, the European Commission finalized a proposal to allow businesses of all sizes in Europe to access data sent from connected devices. This is done with an aim toward creating fair and innovative use for this information that companies can collect within their industry or niche market segmentation where they see fit. It also allows consumers more control over how personal details are used online – which has become increasingly important following recent privacy breaches at major software platforms.
The European Commission has drawn attention to the state of data in Europe, which they say is underutilized. The main reason for this failure according to them are obstacles like failing on defining how you can access and use your personal information generated by connected products – especially as SMEs often fail when negotiating equitable terms with more powerful players; there’s also problems converting different competitors’ cloud services or “edge” capabilities together without any integration between fields.
The Data Act is landmark legislation that will change the landscape of digital services. For example, car owners and machine renters can share data from their connected devices to reduce traffic accidents in high-risk areas and help insurance companies offer more accurate rates for policies.
Large enterprises can help small start-ups by sharing data. This will extend the life of connected devices and promote market competition, as consumers choose which repair provider to go with based on quality service offerings rather than just price alone. Farming has always been a tough job, but now it’s getting even more difficult because unpredictable weather patterns change all over Europe every day. The use of private IoT technology in order to make sense of these problems through collecting information from various sensors embedded into crops themselves could save lives – not only ones related directly to agriculture (floods) or natural disasters such as wildfire here.
The Data Act will make it easier for users to transfer their data and applications across platforms and limit access from outside non-EU governments.