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

Featured Stings

Ukraine takes EU money and runs to sign with Russia

The three sins the EU committed in 2015

Bank resolutions to remain a politically influenced affair

Eurozone: How can 200 banks find €400 billion?

Responsible Artificial Intelligence

Will Merkel ever steer the EU migration Titanic and restore her power in Germany?

A Sting Exclusive: EU Commission’s Vice President Šefčovič accentuates the importance of innovation to EU’s Energy Union

EU out to conquer African Union summit

Bundestag kick starts the next episode of the Greek tragedy

European Youth Forum and youngest MEPs call on President Juncker to keep his promise to Europe’s youth

It’s EU vs. Google for real: the time is now, the case is open

Refugee crisis update: EU fails to relocate immigrants from Greece and Italy

A Sting Exclusive: “Doing ourselves a favour”, Vice President Dombrovskis underscores that this time growth has to come from within the EU

The Swiss will pay dearly for voting out fellow Europeans

Vulnerable young people must not be blamed & stigmatised for violent radicalisation

COP21 Breaking News_10 December:#ParisAgreement: Points that remain in suspense

Light at the end of the Eurozone tunnel

Draghi tells the Parliament the ECB to use all its weaponry; euro slides to parity with the dollar

Four things Turkey did for business in the G20

The Commission tries to stop the ‘party’ with the structural funds

A shortened EU Summit admits failures, makes risky promises

The European Parliament double-checks the EU 2014-2020 budget

EU leads the torn away South Sudan to a new bloody civil war

Dutch voters reject EU-Ukraine partnership and open a new pandora’s box for the EU

Global Citizen-Volunteer Internships

Eurostat: Real unemployment double than the official rate

‘Two pack’ austerity package in force but with less vigor

Opening Remarks by H.E. Ambassador Yang Yanyi, Head of the Chinese Mission to the EU at the Chinese Fashion Night

The EU Consumer Policy on the Digital Market: A Behavioral Economics View

Drowning in the Mediterranean this summer? Many happy returns

Russia and the EU ‘trade’ natural gas supplies and commercial concessions in and out of Ukraine

MWC 2016 LIVE: Telenor CEO calls on operators to embrace Mobile Connect initiative

European Youth Forum welcomes establishment of new Youth Intergroup in the European Parliament

An Easter Special: Social protection of migrants in Europe as seen through the eyes of European youth

France fails again the exams. Kindly requested to sit in on Commission’s class

Brussels to tear down the trade wall with Mexico as opposed to Trump’s “walls”

Five-year low inflation for Eurozone and now Mario has to finally wake up the Germans

Greece lost a month that cannot be found neither in “mini Summits” nor in Berlin

EU Commission indifferent on Court of Auditors’ recommendations

Long live Eurozone’s bank supervisor down with the EU budget supremo

On Youth Participation: Are we active citizens?

Germany and OSCE support an east-west dialogue in Ukraine without exclusions

Scotland and First Minister Salmond enter the most challenging battlefield for independence: Europe

Banks suffocate the real economy by denying loans

The US repelled EU proposals on common rules for banks

IMF: Sorry Greece, Ireland, Portugal we were wrong!

Eurozone guarantees all banks with…taxpayers’ money

Greece did it again

Everybody against Japan over yen’s devaluation

EU finally agrees on target for 40% greenhouse emission cuts ahead of Paris climate talks

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