EU member states and lawmakers reached an agreement on Tuesday regarding regulations governing the utilization of European consumer and corporate data by Big Tech and other companies, as reported by Reuters on June 27. The objective of this agreement is to establish safeguards against unauthorized access to this data by non-EU governments. The proposal for the Data Act was put forth by the European Commission last year to encompass data generated by smart devices, machinery, and consumer products, as part of a series of legislative measures aimed at limiting the influence of major US tech companies. This concern stems from the increased apprehension within the EU regarding data transfers following the revelations made by former US intelligence contractor Edward Snowden in 2013 regarding widespread US surveillance.

Thierry Breton, the EU industry chief, hailed the agreement as a significant milestone in reshaping the digital landscape and fostering an innovative and open EU data economy, with the conditions set by the EU. The new legislation grants individuals and businesses greater control over the data generated by their smart devices, machines, and other connected products, enabling them to easily copy or transfer data across various services. Additionally, consumers and companies are granted the authority to determine how their connected product data is utilized. The Act facilitates the switching of data processing service providers, introduces measures to prevent unlawful data transfers by cloud service providers, and supports the development of interoperability standards for data reuse across different sectors.

Sources:

https://www.reuters.com/world/europe/eu-countries-lawmakers-reach-deal-rules-governing-use-access-data-2023-06-27/

https://www.eu-data-act.com/