European Data Regulation Enhances Privacy and Promotes Innovation

March 27, 2024

    The European Data Regulation, which governs the access and use of data across Europe’s economic sectors, officially comes into force on September 11, 2025. Intended to bolster the privacy of internet users and connected devices via the “Internet of Things”, the regulation also encourages broader industrial application of the data, particularly in the artificial intelligence sector.

    The data regulation delineates who can extract value from the data and under what circumstances. A primary aim of these rules is to catalyze a competitive, innovative data marketplace. By enforcing transparent data laws, users can regulate data-sharing from their connected devices, thereby ensuring trade secrets protection and safeguarding the European fundamental right to privacy, according to Margrethe Vestager, the Commission’s Executive Vice-President handling digital policy issues.

    Thierry Breton, the Internal Market Commissioner, anticipates the regulation will spur “a thriving, innovative and open European data economy, on our own terms.” European citizens and businesses stand to benefit from an increased availability of industrial data, leading to novel applications based on data utilization, including those in AI.

    Among other user benefits, the regulation allows access to and sharing of device-generated data, permits public service access to private sector data for crisis management, protects small and medium businesses from exploitative practices, and facilitates easy switching between cloud service providers. The new legislation underscores the importance of user privacy (ιδιωτικότητα των χρηστών) and the role of data (δεδομένα) within the European framework (Ευρωπαϊκός Κανονισμός).

    data regulation
    The new European Data Regulation enhances privacy by tightening data handling rules, ensuring user consent, and elevating data breach penalties. It fosters innovation by setting clear guidelines, encouraging businesses to develop secure, privacy-focused technologies, thus building trust in digital services.

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