August 12, 2024. The German economy is preparing for the implementation of the EU Data Act. It will significantly change the way data is handled. New rules will apply from September 2025: Anyone who buys a smart washing machine will be able to use a lot of the data it collects. And a company that manufactures die-casting machines must grant the user of the machine access to data that it also receives from the machine itself. This is regulated by the Data Act, which the EU passed at the beginning of the year. The German economy is still divided on how it should assess the regulation. Around half (49 percent) see the Data Act as an opportunity for their company, with 10 percent seeing it as an opportunity for the most part and 39 percent seeing it as an opportunity. At the same time, however, 40 percent see it as a risk, 11 percent see it as a risk for the most part and 29 percent see it as a risk. These are the results of a representative survey of 603 companies with 20 or more employees from all sectors of the economy commissioned by the digital association Bitkom.
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