A Sting Exclusive: “Change is challenge, change is opportunity”, Commissioner Bienkowska cries out live from European Business Summit 2015

Written by Elżbieta Bieńkowska, Commissioner for Internal Market, Industry, Entrepreneurship and SMEs

Elżbieta Bieńkowska, Member of the EC in charge of Internal Market, Industry, Entrepreneurship and SMEs, gave a press conference following the successful launch of two Galileo satellites. (EC Audiovisual Services, 31/03/2015)

Elżbieta Bieńkowska, Member of the EC in charge of Internal Market, Industry, Entrepreneurship and SMEs, gave a press conference following the successful launch of two Galileo satellites. (EC Audiovisual Services, 31/03/2015)

As the global economy shifts to take advantage of digitalisation, so does the European Union have to change to stay competitive.  Digital transformation of industry is an opportunity. The European Commission’s Strategy for Digital Single Market is central in the move towards the digital economy. We have  to remove barriers to businesses and at the same time ensure that the benefits of the new economy are widely spread, ensuring that a new generation of workers have the skills they need to fully take part in the digital economy.

Industry is going through a global change. Digitalisation is changing manufacturing and the businesses that take advantage of that change will be the winners. We in Europe need to be in the winning team. If we seize the opportunities now in front of us, are ready to adapt and innovate, we will see increased competitiveness and productivity. If we do not, we sentence ourselves to decline, confined to the low profit segments of the value chain.

We are falling behind our competitors. Over the last decade, productivity growth in the EU has been 0.7% per year, while the USA has seen growth of 1.2%. We need to quickly embrace digital technologies to help our factories reduce waste and make the most efficient use of resources, whether those are raw materials, machinery or people. Greater efficiency will allow us to deliver first class products and services at competitive prices.

Digital transformation of industry will take place. We can already see examples of smart, connected factories around the world. Businesses must take the lead in this transformation. But also governments have a vital role to play. We have to create an environment which will allow the transformation, everywhere in Europe. We are not there yet.

More than twenty years ago the European Union created the internal market for goods and services. While it is still far from perfect, it has meant a boost to industry as goods and to a lesser extent services could reach a market that now counts 500 million people.

Now we are aiming to do the same for the digital economy. The Digital Single Market strategy aims to give Europe a regulatory environment fit for a 21st Century economy. Currently the EU has 28 different regulatory structures for information processing and telecommunications. Moving data around the EU means having to satisfy 28 different data protection regimes. We need a single space in which companies can grow and become globally competitive.

Like the internal market, the digital single market has to be open. New standards for digital technology will open the door to new players, particularly SMEs, aiming to contribute to the value chain. And the digital economy needs skilled workers. The European Commission will launch an initiative to develop ICT skills training, so that more people can reap the benefits of the digital transformation.

As well as cutting red tape, we have to look at what new areas of activity need regulation to protect the rights and interests of new industries.

One example is Big Data. Vast amounts of information are now available; Big Data is the next strategic raw material. It is anything from the accumulation of supermarket shoppers’ preferences to the huge streams of data flowing from the Copernicus satellites. It can be the inspiration for new services or the raw material for new products. But it can also be stolen, manipulated or corrupted. Individual solutions are expensive and lock out SMEs. A clear regulatory framework backed up by enforcement can help all businesses and protect the public.

Standards remain key to the construction of a digital economy. Whether these are standards for electronic invoicing or the protocols for controlling machinery, standards will help to maintain an open, competitive market. This is why the Commission is mandating the development of standards in areas which are essential to industry.

Digital transformation of industry will change our economy and have an impact on the society. Just like in every previous industrial revolution some of today’s jobs will disappear. But new jobs will be created, if we create the right environment for innovation and creativity. Governments have to make sure that people can acquire the skills to fill those jobs, whether directly through education or by encouraging industry to create the apprenticeships and training schemes to attract new workers or help existing workers adapt.

Change is challenge, change is opportunity.  Let us work together to make digital transformation of industry a reality.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Featured Stings

Bank resolutions to remain a politically influenced affair

ECB intervenes to clean May’s and Schäuble’s mess

Young students envision turning Europe into an Entrepreneurial Society

No better year for the EU’s weak chain links

ECB settles the bank resolution issue, makes banking union tangible

“Austerity was not the alternative!”, President Hannes Swoboda of the European Socialists and Democrats on another Sting Exclusive

How the Irish people were robbed by banks, the Commission and their own government

“China is the only BRICS country to have either met or possibly slightly surpassed my expectations”, BRICS inventor Jim O’ Neil from Switzerland; the Sting reports live from World Economic Forum 2015 in Davos

Alice in Colombia

Oh, well, you are wrong, Google responds to the European Commission

Yanukovych attempts a violent and deadly cleansing of Kiev’s center

Is the EU denying its social character favouring a banking conglomerate?

Eurozone: Retail sales betray economic frailty

A Sting Exclusive: “China is Making Good Stories not Bad Ones”, Ambassador Yang highlights from Brussels

It’s not summer holidays what lead to the bad August of the German economy

ECB offers cheaper money despite reactions from Germany

A Sting Exclusive, the European Commissioner for Energy Günther Oettinger writes for the Sting on “EU Industry: a major energizer”

How did Facebook fool the Commission that easily during the WhatsApp acquisition?

The 28 EU leaders don’t touch the thorny issues

Italy’s rescue operation Mare Nostrum shuts down with no real replacement. EU’s Triton instead might put lives at risk

The EU seals CETA but plans to re-baptise TTIP after missing the 2016 deadline

WEF Davos 2016 LIVE: “You just don’t know if the oil price will be 20$ or 100$ in the next 2-3 years!” top Harvard economist Kenneth Rogoff underscores from Davos

A new proposal breaks the stalemate over the Banking Union

Brussels waits for the Germans to arrive

Exchanges of medical students and the true understanding of global health issues

Warmongers ready to chew what is left of social protection spending

Has Germany rebuffed ECB on the banking union?

Who really cares about the 26.2 million of EU jobless?

EU to pay a dear price if the next crisis catches Eurozone stagnant and deflationary; dire statistics from Eurostat

168 hours left for MEPs – ECOFIN Council to deliver a Banking Union

The consequences of Brexit seen by a European young entrepreneur

MWC 2016 Live: Roshan CEO opens up on Afghanistan challenges

Deutsche Bank again in the middle of the US-EU economic skirmishes

MWC 2016 LIVE: Intel focuses on 5G “beyond the Powerpoint”

Global Citizen-Volunteer Internships

The umpteenth Italian overturn takes Renzi and PD to unprecedented victory at EU elections

EU-US relations on the dawn of the Trump era

Parliament asks for the termination of EU-US bank data deal

A sterilised EMU may lead to a break up of Eurozone

Christmas spending: Who can afford not to cut?

The Social Committee may accept the new ‘contractual’ Eurozone

Germany to help China in trade disputes with Brussels

Will ECB win against low inflation by not following Quantitave Easing?

South Eurozone countries threatened by rising borrowing cost and expensive euro

Lithuania finds the ways to maintain its energy security

EU to fail 2050 Green targets due to lack of European citizens’ engagement

EU’s new environmental policy on biofuels impacts both the environment and the European citizen

To my Chinese friend

Community Manager – 1289

The strong version of the EU banking union gains momentum

How Germany strives to mold ECB’s monetary policy to her interests

A day in the life of a Venezuelan migrant in Boa Vista, Brazil

Schaeuble wants IMF out and bailouts ‘a la carte’ with Germany only to gain

EU-Russia relations: the beginning of a warmer winter?

EU Commission closer to imposing anti-dumping duties on Chinese solar panel imports?

Paris agreed with Berlin over a loose and ineffective banking union

Banks, insurance giants are free again to abuse the real economy

Commission deepens criticism on German economic policies

Commission facilitates the activities of ‘merchants of labour’

More Stings?

Comments

  1. Hi my friend! I want to say that this post is amazing, great written and come with almost all significant infos.
    I would like to peer extra posts like this .

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s