The EU is making it easier to re-use data held by the public sector. Today, member states’ ambassadors agreed on the Council’s negotiating position on reforms which are part of wider EU efforts to increase the supply of data to support the economy and to make sure that more data is used for the benefit of everyone. The new rules will encourage the development and uptake of new data-based services and technologies, such as artificial intelligence. They are also a major step towards making open data more widely available in the EU.
This box summarises the findings of an ad hoc ECB survey of leading euro area companies looking at the impact that digitalisation has on the economy. Digitalisation may be viewed as a technology/supply shock which affects the main economic aggregates, notably via competition, productivity and employment effects, as well as through its interaction with institutions and governance. Digital technologies are also changing the ways in which firms do business and interact with their customers and suppliers. Understanding digital transformation and the channels through which it influences the economy is therefore increasingly relevant for the conduct of monetary policy.
A summary of the Committee’s consideration of the amendments is now available.
The mid-term review of the digital single market strategy in 2017 identified the data economy as one of the top three priority areas for action in the second half of the strategy’s implementation, and announced a legislative proposal to improve access to and the re-use of publicly funded data. These data, which include geographical, land registry, statistical and legal information, are needed by re-users in the digital economy, and are increasingly employed by public administrations themselves. On 25 April 2018, the European Commission adopted a proposal for a revision of the directive on the re-use of public sector information, which was presented as part of a package of measures aiming to facilitate the creation of a common data space in the EU.
Austrian Presidency’s quote: “Today we had a lively debate with the social partners on the economic situation and on a topic that we consider as very decisive: digitalisation. As this issue is multifaceted – affecting various policy areas, economic sectors and our society as a whole – views and opinion provided were rich too. We are in a transitional phase which bears important benefits, but also challenges. The economic outlook is still positive but it is definitely not the time to lean back and stay idle. Fiscal buffers are to be rebuilt and reform efforts have to be stepped up. A concerted effort from all involved parties is needed to reap the potential of technological progress without leaving anyone behind.”