UPDATE 1-EU bets on industrial data, new rules to catch up in global tech [Reuters]
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Source: Reuters
EU bets on industrial data, new rules to catch up in global tech BRUSSELS (Reuters) - The European Commission plans to create a single European market for data, hoping that pooling the region’s deep industrial expertise could help build technology powerhouses to catch up with Silicon Valley and state-backed Chinese heavyweights. The plan is part of a raft of digital market reforms proposed by the EU executive on Monday that also include 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 Germany’s Siemens and France’s Alstom could push Europe to forefront of the next wave of innovation. “We will create a single market for
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