EU's Data Act Reshapes Digital Economy Access and Competition

The European Union is actively working to enhance its global competitiveness through a range of initiatives and regulations. The EU Data Act, effective since September 2025, establishes new frameworks for data access, sharing, and monetization, impacting businesses worldwide and fostering innovation and competition in the digital economy. Concurrently, the European Commission's proposed Competitiveness Fund aims to strategically finance projects in key technology sectors to bolster EU competitiveness and reduce dependency on specific countries, although concerns remain about market distortions and effective public fund usage. Economic challenges are also evident within the EU, with industrial core countries like Germany facing pressures from rising energy costs and global competition, while periphery nations show resilience. In the realm of artificial intelligence, the EU is balancing its role as a regulatory authority, exemplified by efforts like the AI Act, with the need to support technological innovation and ease regulatory burdens for startups and SMEs. These multifaceted efforts highlight the EU's strategy to maintain regulatory leadership while driving economic growth and technological advancement.