Why are we doing it?

Data is one of the most valuable assets in the business world today. Organisations rely on it to make decisions, understand customers’ needs, develop predictive models to anticipate market changes, create better products and services, and create a competitive advantage for their businesses.

However, businesses have growing demands and requirements to protect, manage and maintain their company and customer data. Businesses must ensure they have the right tools, processes, and infrastructure to collect, analyse, store, and delete data securely and appropriately to prevent data breaches and misuse of personal information.

Organisations must also understand the ethical and legal implications of data collection and use, ensuring transparency, respectful usage, and societal benefit. Companies should create a culture of trust by being accountable and responsible in data collection and use practices while adhering to ethical practices and regulations.

The challenge is to build a trusted data-sharing environment (especially when there is a need to share data beyond organisational boundaries) while maximising the benefits and competitive advantage that data can provide.

Within the context of new European policies, such as the Data Governance Act and the Artificial Intelligence Act, it is critical to verify that data is used responsibly and only shared with those with a legitimate need for it. This is difficult to achieve and manage, and there is a national and global need to develop innovative approaches to data governance and to harness intelligent technologies to automate processes and define competencies, standards, and practices. This is the challenge EMPOWER is working to address, with the support and collaboration between the public and private sectors.