Toward a European data law (EU Data Act): Much ado about nothing?

Some call them the 'new gold,' others the 'future oil.' Indeed, there is no doubt that data has become a crucial component of our society and a powerful tool for innovation and job creation. However, users of Internet of Things (IoT) devices are often unaware of the rights and obligations associated with them. In light of the new European data strategy (European Data Strategy), on February 23, 2022, the European Commission adopted a proposal for a regulation on harmonized rules for fair access to data and the use of data, also known as the Data Act. The new regulation primarily aims to: ensure efficient data interoperability among different entities, encourage access to data for consumer users and businesses, and regulate the use of company data by public entities in specific situations where there are particular needs, such as public emergencies. In this presentation, Federico Casolari, Full Professor of European Union Law at the University of Bologna, will analyze the impacts that this new future regulation will have on European countries, from the perspective of both private companies and the public sector. This intervention will also provide an overview of the contents of a new scientific publication by Federico Casolari, Luciano Floridi, and Carlotta Buttaboni, under the supervision of the International Scientific Board of IFAB, entitled 'The EU Data Act in Context: A Legal Assessment.'