Transatlantic Collaboration in the Digital Age

Transatlantic Collaboration in the Digital Age

By The Fatty Fish Editorial Team - January 24, 2023

The Biden administration and outside experts have emphasized the need for transatlantic collaboration in today’s digital age. They suggest strengthening collaboration between the European Union (EU) and the United States (US). The recommendations are intended to guide the newly established EU-US Trade & Tech Council (TTC). The TTC is an initiative established by the EU and the US to enhance transatlantic cooperation in trade and technology. The TTC aims to strengthen economic ties, promote fair trade practices, and address common challenges related to emerging technologies. The priorities of the TTC include improving market access for business, fostering regulatory cooperation, and promoting innovation and digital transformation. It focuses on key sectors such as technology standards, AI, cybersecurity, data flows, and climate-friendly technologies.

The TTC aims to establish a framework for cooperation that enables the EU and the US to jointly address global challenges and set common standards, ensuring a level playing field for businesses on both sides. By facilitating dialogue and collaboration, the TTC seeks to promote economic growth, job creation, and the development of sustainable and inclusive economies. The Council serves as a platform for regular high-level meetings and consultations between representatives from the European Commission and the US government. Experts suggest that this structure provides an opportunity for policymakers, industry leaders, and other stakeholders to exchange views, identify areas of common interest, and develop joint initiatives to strengthen the transatlantic relationship and address shared economic and technological challenges.

Transatlantic cooperation in addressing common challenges and maximizing opportunities in the digital sphere is important in fostering innovation, promoting digital transformation, and ensuring a fair and competitive digital economy. Several key recommendations include:

Strengthening trust and privacy: The EU and US are encouraged to enhance data protection mechanisms and promote interoperability between their respective privacy frameworks.
Promoting digital trade: The need to remove unnecessary barriers to digital trade and create a favorable environment for cross-border data flows, while ensuring the protection of personal data.
Enhancing cybersecurity: The EU and US are urged to collaborate closely on cybersecurity issues, sharing information and best practices, and coordinating efforts to counter cyber threats.
Addressing emerging technologies: The EU and US need to jointly address emerging technologies such as AI, blockchain, and the IoT, including developing common approaches to regulation and standards.
Advancing digital skills and education: The EU and US need to work together to promote digital skills development, education, and training, ensuring their workforces are equipped for the digital age.
Supporting research and innovation: The recommendations call for increased collaboration in research and development, fostering innovation ecosystems, and supporting startups and scaleups on both sides of the Atlantic.
Coordinating global digital governance: The EU and US need to work together to shape global digital governance frameworks, cooperating with international partners and organizations to ensure a shared vision of digital norms and standards.

EU-US collaboration is critical in addressing the digital challenges and opportunities of the 21st century, and these specific recommendations for the EU-US Trade & Tech Council to enhance transatlantic cooperation in the digital age is very important. Here is an opinion piece we found of interest relating to modernizing US tech policy.

Biden’s Call to Modernize US Tech Policy Would Pay Transatlantic Dividends

In an opinion piece “Biden’s call to modernize US tech policy would pay transatlantic dividends” for Atlantic Council, Kenneth Propp, nonresident senior fellow, discusses President Biden’s proposal to modernize US tech policy and highlights the potential benefits it could bring to the transatlantic relationship. He emphasizes that technology plays a crucial role in shaping economies and societies, and that Biden’s plan seeks to bolster US competitiveness in the global tech sector. He outlines several key points of the proposal, including increased investment in R&D, support for emerging technologies such AI and quantum computing, and the promotion of digital trade and cybersecurity. These initiatives are seen as essential for maintaining US leadership in innovation and addressing critical challenges such as climate change and economic inequality.

Propp argues that by aligning their approaches, the US and Europe can foster collaboration on emerging technologies, establish common standards and regulations, and enhance digital trade. This cooperation could lead to economic growth, job creation, and strengthened security in both regions. He suggests that transatlantic collaboration on tech policy could help counterbalance the influence of China in the global tech landscape. Read the full article on the Atlantic Council.

Disclosure: Fatty Fish is a research and advisory firm that engages or has engaged in research, analysis, and advisory services with many technology companies, including those mentioned in this article. The author does not hold any equity positions with any company mentioned in this article.

The Fatty Fish Editorial Team

The Fatty Fish Editorial Team includes a diverse group of industry analysts, researchers, and advisors who spend most of their days diving into the most important topics impacting the future of the technology sector. Our team focuses on the potential impact of tech-related IP policy, legislation, regulation, and litigation, along with critical global and geostrategic trends — and delivers content that makes it easier for journalists, lobbyists, and policy makers to understand these issues.