The digital economy has transformed the way businesses operate, with data becoming one of the most valuable assets. In response, the EU introduced the Data Act in 2023. The Data Act is a pivotal regulation aimed at creating a more equitable and transparent data economy. For businesses, manufacturers, service providers and individual users, the Data Act imposes new requirements on data rights, responsibilities and access. In an effort to help organizations, the European Commission published in September 2024 a 40-page long “Frequently Asked Questions (FAQs) on the Data Act”. We have provided a useful summary of the key points in our own Data 101 FAQs.
