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EU bets on industrial data, new rules to catch up in global tech – Source Reuters Tech News

BRUSSELS (Reuters) – The European Commission plans to create a single European market for data, hoping that pooling the region’s deep industrial expertise will help build technology powerhouses to catch up with Silicon Valley and state-backed Chinese heavyweights.

European Internal Market Commissioner Thierry Breton speaks during the presentation of the European Commission’s data/digital strategy in Brussels, Belgium February 19, 2020. REUTERS/Yves Herman

The plan proposed by the EU executive on Monday is part of a digital market policy shake-up that also includes steps to rein in the data controlling powers of companies such as Google, Facebook and Amazon.

Having lagged the first wave of digital innovation, particularly in consumer markets such as social media, online shopping and smartphones, the EU is keen to make up lost ground and avoid its firms relying on data from U.S and Asian rivals.

It is hoping that tapping into the trove of industrial data held by companies such as…

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Source Reuters Tech News

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