The European Union on Wednesday released a plan to create one market for all EU data that shapes Europe’s digital future and helps companies to compete not only in Europe, but in the United States.
The EU collectively will invest between €4 and 6 billion to develop common data spaces and a European federation of cloud infrastructure and services by 2025.
“Industrial and commercial data are key drivers of the digital economy, according to the site. “The European Data Strategy will make more data available for use in the economy and society, while keeping those who generate the data in control.”
During the next five years, the Commission will focus on three objectives to promote technological. The announcements note the objects as technology that works for people, a fair and competitive economy, and an open and democratic sustainable society.
As part of this focus on data, the EU claims it will provide residents with a trusted digital identity.
This means increased personal privacy, less fraud and more rapid intersections with government and businesses.
The plan also promises longer-lasting electronics, access to diverse and reliable media content, and better food with fewer pesticides, fertilizers, fuel and water thanks to artificial intelligence, data and 5G technology.
The data would become available to citizens and organizations. Some of the data for the industrial and commercial sectors would include sensor information on jet engines, real-time notifications of delayed trains, and wind-farm data to reduce the visual impact and optimize power.
The framework also encompasses artificial intelligence (AI).
Along with the new framework, the EU published a white paper that details why the member companies aims to attract more than more than $20 billion (€20 billion) of total investment in AI annually in the EU during the next decade.