Responding to US tech giants EU to unveil plan to boost european corporate competitiveness

The European Commission on Wednesday will unveil the first in a series of proposals to help European companies use their vast industrial data resources while taking control of companies such as US online giants Facebook, Google and Amazon,media reported. These digital strategies and artificial intelligence proposals are part of a larger plan to help European companies better compete with U.S. and Chinese tech giants in the digital world.

Responding to US tech giants EU to unveil plan to boost european corporate competitiveness

The draft proposals will be presented at noon by Margrethe Vestager, Europe’s head of digital and antitrust, and Thierry Breton, europe’s industry chief. They will present the final draft at the end of the year on the basis of feedback from the parties concerned.

One of the drafts shows that the core of the EU’s digital strategy is the creation of a single European data market and a smaller data market centred on key industries. Other elements include new rules covering cross-border data use, data interoperability, and some standards related to manufacturing, climate change, the automotive industry, healthcare, financial services, agriculture and energy. One of the potentially controversial proposals calls for the abolition of EU rules on anti-competitive data sharing.

In response to complaints about large online platforms, the European Commission is also considering rules to prevent these companies from setting conditions for access and use of data.

A draft will create a management framework for artificial intelligence technology, providing management for a growing number of companies using it, according to a draft. These regulatory frameworks will apply to high-risk industries such as medical, transportation and predictive policing.

Europe’s Digital Services Act, which is expected to be announced by the end of the year, could force tech giants to take more responsibility for their actions and content on their platforms.