German software giant SAP and engineering firm Siemens have expressed their reservations over planned European Union (EU) laws on data use from smart gadgets and other consumer goods.
The proposed Data Act covers EU business and consumer data and is part of a set of rules aimed at minimizing the influence of U.S. internet corporations while also supporting the EU in meeting its environmental and digital goals.
The Data Act will outline how to exploit business and consumer data generated by smart devices, technology, and consumer goods. It is projected to provide a massive quantity of data for usage, which might result in an additional €270 billion in GDP by 2028.
Furthermore, the Data Act would enforce contractual requirements and interoperability standards on edge and cloud services, making it easier for businesses to transfer to a rival and allowing data to be exchanged across sectors.
Both corporations collaborated on a letter to Commission President Ursula von der Leyen, EU antitrust chief Margrethe Vestager, and EU industrial director Thierry Breton. They voiced concern that the legislation will jeopardize Europe’s competitiveness by obliging businesses to share data, including critical expertise and design data, not just with customers but also with those outside the organization.
The sources for this piece include an article in Reuters.
