In this sense, data leaders must understand the key pillars that shape this strategy to envision the possible implications for their data-driven initiatives.

Pillar 1: Cross-Sectoral Governance Framework

This pillar emphasises the creation of a legislative framework for European data spaces, aligning with the FAIR principles. Look out for the new and upcoming regulation to facilitate horizontal data sharing within and across sectors in compliance with GDPR.

Pillar 2: Enablers for Data Capabilities

The EU will invest in standard setting, tool development, and best practices to empower data capabilities and infrastructure. This pillar supports the creation of a European data-sharing ecosystem, including the High Impact Project on European data spaces and federated cloud infrastructures. Stay tuned for funding opportunities on infrastructure, data-sharing tools, and governance mechanisms.

Pillar 3: Competences for Data Empowerment

Empowering individuals and investing in data literacy are central to this pillar. For data leaders, this fosters a strategic focus on enhancing the skillsets within your organisation. The EU is committed to investing in capacity building, mainly in SMEs.

Pillar 4: Common European Data Spaces

This pillar complements the others by establishing common data spaces in strategic sectors. Sectors such as manufacturing, green deal, mobility, health, financial, energy, agriculture, public administration, and skills will witness a concerted effort to promote data sharing and interoperability. Prepare to align your data strategies with these sector-specific initiatives.

International Data Flow

In addition to the four pillars, the EU Data Strategy highlights the importance of international data flows. It aims to foster an open but proactive global approach, addressing barriers and digital restrictions to data sharing between countries. Further, creating a European analytical framework for measuring data flows underlines the EU’s commitment to setting global standards.

The Road Ahead

The EU is working to play a leading role in a data-centric future. Data leaders must seek to comply with the new and upcoming regulations and strategically position their organisations at the forefront of the data-empowered era. Stay tuned for our upcoming articles on the ‘Data Law’ Series.

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