Harnessing the value of data and bolstering the digital economy in the EU are at the heart of several recent European Commission initiatives, such as the European Strategy for Data and the Digital Decade. The digital transition has ramifications across policy areas and is expected to contribute significantly to the EU’s recovery and transition towards resilience and sustainability over this decade. To make the digital transition work for everyone, we must take stock of the existing and emerging legislative initiatives and ask what challenges remain to be addressed. How can the successful implementation and enforcement of new rules governing the digital and data economy be ensured? How can innovation be fostered in industrial ecosystems? How can the workforce be prepared for the digital transition?
This policy brief outlines challenges and recommendations in three areas to foster the digital transition in the EU: i) how new business models driven by data are emerging, and their potential to transform industrial ecosystems; ii) the importance of ensuring the coherence of the emerging rules to govern the data economy as well as preparing for their implementation; and iii) the changing nature of work in digitised value chains.
This policy brief has been published in the context of CEPS’ Forum on the Future of European Industry.