Beautiful Virgin Islands

Monday, Jun 30, 2025

Europe unveils a new plan to compete with Silicon Valley

Europe knows it fell behind the United States and China on the technologies that dominated the past decade. Now it has a plan to catch up.
On Wednesday, the European Union unveiled plans to create a single market for data that will help its companies compete on the next round of tech innovations and curb the power of data giants such as Facebook (FB) and Google (GOOGL). Officials also released a paper on artificial intelligence, proposing first-of-their-kind rules to govern the technology's use.

"Whoever does business [here] needs to respect our rules and values," Margrethe Vestager, the EU commissioner leading the charge on tech issues, said at a press conference.

By leveraging the massive amounts of data generated within its borders, the European Union hopes to foster a fresh wave of development in industries such as transportation and health care, while leveling the playing field for the smaller companies currently unable to compete with large US and Chinese firms.

"We recognize that we missed the first wave or the first battle," Commissioner Thierry Breton told reporters. But Europe has the tools required to "win" the next phase, since the region hosts "the strongest and largest industrial base," he continued.

Plus, Europe has regulatory teeth. It's already investigating how Google, Facebook and Amazon (AMZN) use data and has fined Google €8.2 billion ($8.9 billion) since 2017 for antitrust violations. Its data protection rules enacted in 2018 have set a new global standard.

The European Union also intends to jumpstart a debate on regulating AI. The bloc said that it intends to scrutinize AI applications that are deemed to be high risk in the same way it ensures cars, toys and cosmetics meet certain standards.

The paper stopped short of proposing a temporary ban on facial recognition technology in public spaces. But the European Union did pledge to launch a "broad" debate on what circumstances, if any, justify the use of AI that processes biometric data in public. The paper suggests that companies operating in Europe will need to ensure their AI systems aren't biased and involve human oversight.

The announcements come just days after Mark Zuckerberg visited Brussels to meet with EU leaders. The Facebook CEO said he supported increased regulations from governments on data use, privacy and managing content.

But the question of who is legally accountable for the content posted on tech platforms remains contentious. In a paper released this week, Facebook said it does not support laws that seek to hold platforms liable for content posted by users.
That could set the company on a collision course with the European Union, which plans to roll out legislation by the end of the year compelling US tech giants to better address issues such as hate speech and election interference.

"It is very clear that we have the ambition to say you have a responsibility when you are a content provider, one way or another," Vestager said Wednesday.

Guntram Wolff, the director of Bruegel, an economic think tank based in Brussels, said the challenge for the European Union will be to move beyond regulation into the industrial policy space. With no spare room in the bloc's budget, it will need to rely on coordinated action from member states, he said.

"I have no doubt the European Union can deliver on regulation," he said. "But I think that's only part of the story. There is the investment side. There is the enforcement side. There is the entrepreneurship side." These areas, Wolff said, are "not the traditional strengths of the European Union."
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Texas Enacts Law Allowing Gold and Silver Transactions
China Unveils Miniature Insect-Like Surveillance Drone
OpenAI Secures Multimillion-Dollar AI Contracts with Pentagon, India, and Grab
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Elon Musk Critiques Senate Budget Proposal Over Job Losses and Strategic Risks
Los Angeles Riots ended with Federal Investigations into Funding
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Education Secretary Announces Overhaul of Complaints System Amid Rising Parental Grievances
Massive Anti-Government Protests Erupt in Belgrade
Trump Ends Trade Talks with Canada Over Digital Services Tax
UK Government Softens Welfare Reform Plans Amid Labour Party Rebellion
Labour Faces Rebellion Over Disability Benefit Reforms Ahead of Key Vote
Jeff Bezos and Lauren Sánchez Host Lavish Wedding in Venice Amid Protests
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
North Korea to Open New Beach Resort to Boost Tourism Economy
UK Labour Party Faces Internal Tensions Over Welfare Reforms
Andrew Cuomo Hints at Potential November Comeback Amid Democratic Primary Results
Curtis Sliwa Champions His Vision for New York City Amid Rising Crime Concerns
Federal Reserve Proposes Changes to Capital Rule Affecting Major Banks
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Trump Escalates Criticism of Media Over Iran Strike Coverage
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
Big Four Accounting Firms Fined in Exam Cheating Scandal
NATO Members Agree to 5% Defense Spending Target by 2035
Australia's Star Casino Secures $195 Million Rescue Package Amid Challenges
UK to Enhance Nuclear Capabilities with Acquisition of F-35A Fighter Jets
Russian Shadow Payments via Cryptocurrency Reach $9 Billion
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
×