The European Union’s (EU) data regulations have recently gained significant attention, particularly due to the General Data Protection Regulation (GDPR) and the Schrems II rulings. These regulations have led to major changes in data privacy, but they also present opportunities for businesses that can navigate the new landscape effectively.
While these regulations have led to substantial changes in data privacy, the goal of establishing a market for data and facilitating data exchange between companies has not yet been fully realised.
The EU digital strategy encompasses several acts, including:
These acts are expected to become effective during or after Spring 2023, signalling a trend toward stricter regulatory guidelines for data and AI.
The EU digital strategy presents both challenges and opportunities. The potential for data sharing and portability, reduction of gatekeeper platforms’ market power, and protection of end-user rights associated with AI creates new business avenues.
New World Norm can help your organization navigate these complexities, offering competitive advantages through strategic risk management.
The new regulations offer benefits such as easier data sharing and portability, reduced lock-in effects, and increased competition in the digital platform space. These changes can lead to new business propositions and digital advancements.
The new landscape also brings challenges, especially regarding AI and user rights. New World Norm provides expert guidance to assess the impact, explore applicability, and collaborate with governing bodies on regulation interpretation.
The EU digital strategy requires careful navigation, strategic planning, and adaptability. New World Norm’s expertise ensures that your organization is well-positioned to adapt to these regulations and seize the opportunities they present.
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