EU Data Act 21 October 2024

In today's world, where digitalization is gaining significant pace, data sharing and management are of vital importance for all sectors. In this context, the European Union has adopted the EU Data Act, which reshapes the regulations on data sharing. It aims to promote the wider use of data generated by digital devices and services while introducing new rules for a fair data economy.

By making it easier for businesses and consumers to access the data they generate, the Data Act aims to promote competition and pave the way for innovative business models. In particular, new rights have been defined for data derived from technologies such as the Internet of Things (IoT) to prevent the monopolization of this data by big tech companies. The Act also allows the public sector to play an active role in data sharing.
 

The main innovations that will significantly concern companies and data owners are as follows:

• Internet of Things (IoT) users are provided with the rights to access, use, and move the data they create with the provider using a connected product.

• It is regulated that under certain circumstances, such as emergencies, public interest or public safety, public institutions may request access to private sector data. In such cases, private sector organizations will be obliged to share the necessary data. 
   

• Provisions are introduced to protect against unfair contractual terms on data access and use imposed on SMEs by larger companies.

• Strict restrictions on third countries' requests for access to data within the EU are applied. Thus, it is aimed to protect non-personal data stored in the EU against unlawful access requests by foreign governments.

With these innovations brought by the Data Act, it is aimed to create the cornerstones of the EU's data-driven economy and to make the dynamics of the digital world more sustainable and fair.