The Banking Executive Magazine - August Issue 2022

Where is The EU Standing Today? OCEANS AND FISHERIES EU oceans produce most of the oxy- gen, regulate the weather and cli- mate, and are home to the majority of the planet’s species. They are also important drivers of the European economy, providing food, jobs, transport and recreation. The EU works to protect its seas and oceans and to ensure that they remain envi- ronmentally and economically sus- tainable for future generations. The EU’s Sustainable Blue Economy strategy seeks to harness the potential for sustainable growth in the marine and maritime sectors as a whole. DIMENSION 2. EU TECHNOLOGY CAPABILITY EU technology capability is assessed based on research and innovation, digital transformation, and EU initia- tives towards a safer internet. RESEARCH AND INNOVATION The € 95.5 billion research and inno- vation programme Horizon Europe is helping to boost jobs and growth and tackle some of the biggest EU chal- lenges. DIGITAL TRANSFORMATION The EU is working to ensure that dig- ital technologies work for everyone, while helping to achieve climate neutrality by 2050, and securing Eu- rope’s place as a leader in the digital economy. Digital technologies have never been more important in people lives. Dur- ing the COVID-19 crisis, they have kept people connected and busi- nesses working, and have proved es- sential for education and training. They are also crucial to fighting cli- mate change, including through smart energy and transport systems. EU digital transformation helped in: • putting an end to additional roam- ing charges when people use their mobile devices when travelling in the EU; • providing access to online content when traveling in the EU; • laying down strict EU rules on per- sonal data protection; • providing free public Wi-Fi hotspots across the EU; • devising new rules to ensure better access to public websites for peo- ple with disabilities; • taking actions to fight fake news and online disinformation. The EU digital strategy aims to de- liver digital solutions that benefit people, businesses and the planet. It focuses on three main objectives: technology that works for people, a fair and competitive economy and an open, democratic and sustainable society. The European Commission has pro- posed a comprehensive set of rules for online platforms operating in Eu- rope to protect the fundamental rights of citizens online, to address online harms and to foster innova- tion. Beyond that, the strategy also covers everything from cybersecurity and data to digital education and democracy. The proposed Digital Compass translates Europe’s goals for 2030 into concrete targets. Safe- guarding EU values and people’s fun- damental rights and security is a key element. The Digital Europe programme, with over € 7.5 billion in funding between 2021 and 2027, will boost invest- ments in areas such as supercomput- ing, artificial intelligence and digital skills. It will also ensure wide use of digital technologies across the econ- omy and society, including through digital innovation hubs. A SAFER INTERNET The EU has the strictest data protec- tion and privacy rules in the world. This ensures that the online environ- ment is safe and fair for citizens and businesses alike and protect people, in particular children, from illegal and harmful content. ISSUE 164 AUGUST 2022 the BANKING EXECUTIVE 13 EU Technology Capability SAFER INTERNET DIGITAL TRANSFORMATION RESEARCH AND INNOVATION