EU is using Google, Apple and Microsoft's argument against them

• The European Union (EU) may propose to set up a single data marketplace to challenge the dominance of global tech firms, according to Reuters.
  
• Europe is using the tech companies’ own argument against them and encouraging more data to be out in the open.
  
• According to the proposal, the winners of today won’t be the winners of tomorrow.
  

The European Union wants to break the monopoly giant tech firms have over data by creating a single data market, according to Reuters who reviewed a new European Commission proposal. The document challenges their dominance, will help Europe compete against China, help data-driven businesses grow and regulate cross border data flow.

Global tech companies like Apple, Google, Amazon and Microsoft have always spoken out against data protectionism. They argue that hindering the free flow of data could have ‘unintended consequences’.

And, the EU agrees. In fact, it’s using the same argument against them. It wants more data to be out in the marketplace where more stakeholders can have access to it. “Currently a small number of big tech firms hold a large part of the world’s data. This is a major weakness for data-driven businesses to emerge, grow and innovate today, including in Europe, but huge opportunities lie ahead,” the proposal, reviewed by Reuters, said.

It underlines the urgency of the EU to break the nest eggs of data free from the clutches of the US tech companies. However, Reuters points out that there is still a chance that the document could still be altered ahead of the presented scheduled on February 19.

The winners of today won’t be the winners of tomorrow
In addition to creating a “single European data space, a genuine single market for data,” Europe plans to open up more public data as well. Geospatial, environment, meteorology, statistics and companies data will be released and be available for free.

In order to create a centralised data sharing space, the EU also plans to implement new rules. The guidelines, among other things, will address cross-border data use and data interoperability.

It mirrors the Alphabet CEO and Google chief Sundar Pichai rationale against data protectionism in India. “Free flow of data across borders — with a focus on user privacy and security — will encourage startups to innovate and expand globally and encourage global companies to contribute to India’s economy,” he said in a letter to the Indian IT Minister, Ravi Shankar Prasad.

The proposal also outlines scrapping select competition rules that hinder data sharing and introducing new rules that will prevent large online platforms — like Amazon, Twitter, Facebook and Google — from imposing conditions for access and use of data according to their own set of standards.

“The winners of today will not necessarily be the winners of tomorrow,” according to the paper.

See also:
Here’s what global tech CEOs have to say about India's data protection laws

Mark Zuckerberg defends the leaked Facebook documents he never wanted the world to see: The scrutiny is 'healthy,' but don't 'misrepresent our actions or motives'

JPMorgan wants to create a dashboard for customers to pick and choose data that third-party apps access, as banks get more territorial about sharing information with fintechs