Shearman & Sterling LLP | FinReg | European Commission Launches Strategy for Data and Artificial Intelligence
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  • European Commission Launches Strategy for Data and Artificial Intelligence

    The European Commission has published a set of documents presenting its strategies for data and Artificial Intelligence. The main document is a Communication to the European Parliament, the European Council and relevant committees, entitled "A European strategy for data." The Communication describes the policy measures put forward by the European Commission for an EU data economy that aims to increase the use of, and demand for, data and data-enabled products and services in the EU over the next five years. The Commission argues for an attractive policy environment that provides for access to data, the flow of data across the EU, protection of personal data protection rights and an open yet assertive approach to international data flows that is based on European values. The Commission is seeking feedback on the strategy, responses to which can be submitted until May 31, 2020.

    Among other things, the Commission will be taking the following steps:
    • establishing a legislative framework for the governance of common European data spaces (expected to be published in Q4 2020) that is not overly prescriptive so as to allow flexibility and innovation. The Commission is proposing nine initial common data spaces, including a space for financial services that will be further detailed in its upcoming Digital Finance Strategy in Q3 2020;
    • working to adopt an implementing act on high-value data sets under the Open Data Directive that focuses on the needs of SMEs and facilitates making data sets freely available across the EU in machine-readable format and through standardized Application Programming Interfaces, with a target date of Q1 2021;
    • developing a legislative proposal for a Data Act by 2021 that enhances data sharing, including considering whether the portability right for individuals under the General Data Protection Regulation could be enhanced to give individuals more control over who can access and use machine-generated data;
    • launching a European cloud services marketplace by Q4 2022 and developing an EU regulatory cloud rulebook by Q2 2022;
    • establishing a framework to measure data flows and estimate their economic value by Q4 2021, both within the EU and between the EU and other jurisdictions; and
    • conducting an analysis of the importance of data in the digital economy and reviewing the existing policy framework under the Digital Services Act package (expected by Q4 2020).

    Accompanying the Communication is a White Paper on Artificial Intelligence that sets out how the Commission intends to support the development of AI. The White Paper describes policy options to ensure the secure development of AI in the EU that respects the rights of EU citizens. These include a policy framework to align efforts at EU, national and regional levels and the main components of a regulatory framework for AI that aims to create an ecosystem of trust. In a related Report on the safety and liability implications of AI, the Internet of Things and Robotics, the Commission discusses the broader implications for and gaps in the liability and safety frameworks. The issues discussed in the Report are published for consultation until May 31, 2020.

    The Commission's data strategy is also set out in a separate public Communication on Shaping Europe's Digital Future, as well as six supporting Factsheets that summarize the key elements of the strategy.

    View the Communication, "A European strategy for data".

    View the European strategy response page.

    View the White Paper on Artificial Intelligence.

    View the Commission Report on safety and liability implications of AI, the Internet of Things and Robotics.

    View the AI consultation response page.

    View the Communication, "Shaping Europe’s digital future".

    View the six supporting factsheets.

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    TOPIC: FinTech