BusinessEurope Director General Markus J. Beyrer has commented on today's EU Parliament Plenary vote on the EU Data Act, emphasizing the importance of assessing its impact on the EU's global competitiveness. Beyrer stated, "Making data flows easier in Europe is a necessary step, but it will be key to assess the Data Act’s impact on the EU’s global competitiveness."
Expressing the concerns of the European business community, Beyrer highlighted the need to prevent a chilling effect on data innovation investments in the EU. He stated, "The number one concern of the European business community is that the Data Act does not have a chilling effect on data innovation investments in the EU, particularly due to its potential impact on contractual freedom."
Beyrer also noted that the Data Act will be a transformative regulation that will evolve over time, drawing parallels to the General Data Protection Regulation (GDPR). He said, "The Data Act will be a transformative regulation, but it will also be maturing with time, similar to GDPR where businesses still explore possibilities and limitations."
Looking ahead, Beyrer stressed the importance of evaluating the Data Act's impact on the EU's global competitiveness in comparison to other regions worldwide. He also highlighted the need to monitor how the legislation has influenced contractual freedom for economic actors across the Union. Beyrer concluded, "Going forward, it will be key to assess the impact of the Data Act on the EU’s global competitiveness vis-à-vis other world regions, and how it has affected contractual freedom for economic actors across the Union."