The European Commission had launched a proposal with the help of European Companies to make use of their industrial data and at the same time check-in with the global giants such as Google, Facebook, Alphabet, and Amazon. The establishment of such deals in date strategy and artificial intelligence was done with the motive to help European Companies compete with the high-end companies of The US and other Chinese aided companies.
European Digital and antitrust Chief Margerethe Vestager and European Industry Chief Thierry Breton would have made the proposals by noon. They stated that they would come out with a final draft by the end of this year and would want feedback from the interested parties.
The main idea behind this proposal was to create a single European Data Market for all the European Companies and for the smaller markets to have a key company at the top. Other essential elements consist of cross border data use, data interoperability and their standards relating to manufacturing, climate change, healthcare, financial, auto-industry, agriculture, and energy.
There were a few controversies relating to non-competitive data sharing. Large online platforms wield in a lot of power and therefore there were issues regarding uni-parallel conditions set by these companies. The discussion paper on the Artificial Intelligence of the company was set to be used as a framework to govern the set of technologies.
