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Digital economy

Digital transformation is one of the cornerstones of European success in international competition. The EU needs to unlock the full potential of the data economy, platform economy, artificial intelligence and other emerging technologies for achieving sustainable economic growth, ensuring a high level of employment and combating climate change.

The EU must strive to become a global leader in the digital economy. It should adopt a comprehensive approach to achieve a digital economy that is sustainable, secure, reliable, competitive and socially inclusive. Digital transformation should be strengthened and mainstreamed as an essential element of a functioning and competitive European single market.

Competitiveness Council to promote the digital economy

The EU should adopt policies that promote a rapid deployment of digital technologies and solutions in society and the economy, and especially among SMEs. It should foster digital security and trust and step up investments in advanced digital skills. Digitalisation of industry and services has an important role in spurring innovation and creating added value.

During its Presidency of the Council of the European Union, Finland aims to promote future digital economy policies especially in the Competitiveness Council. The goal is that Competitiveness Council would adopt a comprehensive approach on the single market, industrial policy, research and innovation policy and the digital economy.

Data mobility and ecosystems to speed up European data economy

The EU’s data policy should be harnessed as a driver of new services that comply with European values. There should be incentives for businesses to share data and develop joint use of data, and Europe should be made into an attractive investment environment for data businesses. Data mobility must be improved both in the European single market and globally.

To become a major player in the global digital economy and to meet the needs of businesses, the EU should draw up a road map for developing its regulatory environment for data and promoting the fair and innovative use of data. The EU should develop the data economy based on comprehensible principles that embrace access to data, sharing, use and reuse of data, interoperability and integrity of data, and trust in data processing.

The public administration, too, must modernise its practices and facilitate business opportunities by accelerating the development of easy-to-use, digital and business-driven service ecosystems and by involving businesses in the development of services.

Artificial intelligence and trust to boost European innovation economy

Artificial intelligence and automation are key means of boosting competitiveness in the EU. The Internet of Things, AI and other emerging technologies open up new possibilities both for European businesses and for addressing social challenges. During its Presidency of the Council of the European Union, Finland aims to promote the adoption of AI in all sectors and facilitate the creation of AI-based solutions that benefit the European economy and society.

The Digital Europe programme will bridge the EU’s digital investment gap for the period of the next long-term EU budget from 2021 to 2027. It will support the digital transformation of European businesses and especially of SMEs and boost investment in supercomputing and AI, among others. To achieve its goals the EU should also invest in building successful public-private partnerships (PPPs), creating a common European approach to the application, development and deployment of AI and boosting research on AI.

Europe should develop ethical application of AI into a competitive advantage globally. Ethical guidelines should be seen as drivers of AI innovations in Europe. The EU needs a business environment that promote reliable and responsible use of AI.

Cybersecurity as one of the Presidency priorities

The Council will continue to work on the proposal for a regulation establishing the European cybersecurity industrial, technology and research competence centre and network. The competence centre would promote the coordination of research and innovation in the field of cybersecurity.

It would also be a key instrument for the EU to combine its investments to promote research, technologies and industry in the field of cybersecurity. The cybersecurity competence network would consist of national coordination centres appointed by member states.

Background

EU’s digital single market

European digital economy and society

EU’s digital single market: artificial intelligence

European cybersecurity competence centre and network

Inquiries

Nina Alatalo, Chief Specialist, Ministry of Economic Affairs and Employment, tel. +358 295 047 171, [email protected]

Antti Eskola, Senior Ministerial Adviser, Ministry of Economic Affairs and Employment, tel. +358 295 064 820, [email protected]

Maikki Sipinen, Specialist, Ministry of Economic Affairs and Employment, tel. +358 295 047 013, [email protected]

Satu Vasamo-Koskinen, Senior Specialist, Ministry of Economic Affairs and Employment, tel. +358 295 047 073, [email protected]

Sirpa Alitalo, Senior Ministerial Adviser, Ministry of Economic Affairs and Employment, tel. +358 295 063 680, [email protected]