Digital knows no borders, and as we face bigger and bigger global challenges – cyber security, data ownership and access, climate change, supply chain shortages, online responsibilities – there has never been a more pressing time for international cooperation.
Emerging technologies, such as artificial intelligence (AI) or the Internet of Things, and new ways of living and working – unlocked by connectivity and data – are an exciting opportunity that we cannot miss. We are at the perfect time and place to steer them in an ever more positive direction, so that technological advancements can be a force for good, supporting our citizens to prosper and lead better lives. At the same time, they come with serious responsibilities we should not bear lightly.
Together, the EU and US make up more than 40% of global GDP. What we do together matters.
On the first anniversary of the Biden administration, and with the French Presidency underway, a great deal of work has been done to repair the transatlantic relationship, following four years of divergence.
The launch of the EU-US Trade and Technology Council (TTC) in June 2021 marked a transatlantic cooperation reboot, setting a more purposeful direction to our trade and technology policy decisions to benefit first and foremost people. Europe and the United States already share a diplomatic and military security alliance; it is time that we become tech allies as well.
2022 starts on a high note of urgency to jump-start the TTC and deliver on its promises. Concrete actions are needed to maintain the European and American elections in 2024.
The time has come for Europe and the US to find concrete solutions to boost their technological strengths, collaborate on setting the governance of the Digital Decade, and defend the open, rules-based trading system.
The rollout of AI systems has been spurred up by the Covid-19 pandemic. Hostile foreign cyberattacks have increasingly become a source of concern to both the EU and US as the situation on Ukraine’s eastern border continues to heat up.
The importance of technological innovation speaks for itself. Policymakers are realising the crucial role of AI and new technologies to bring down CO2 emissions and save the planet. Young tech innovators in Europe and the US are struggling with barriers of regulatory fragmentation to scale up and expand overseas, despite belonging to a sector – the digital economy – that grows two and a half times faster than any other.
A promising initiative like the EU-US Trade and Technology Council can make a difference – if we manage to avoid the pitfalls of previous bilateral and multilateral negotiations. Almost ten years later, the failure of the Transatlantic Trade and Investment Partnership (TTIP) is still fresh in our minds. Despite a new, determined leadership, the World Trade Organization (WTO) continues to struggle with relevance. We cannot afford another empty talking shop, or we risk losing citizens’ trust – we need to act now.
From setting common standards for trustworthy AI to better aligning on competition policies, to renewing fair data and privacy agreements, European and American citizens alike can benefit from a dynamic transatlantic cooperation.
A stronger cooperation on cybersecurity, from cloud to connected devices, will allow data to flow more securely across the Atlantic, to the benefit of consumers and medical research. A better alignment around competition policies has the potential to offer consumers on both sides a better choice of digital services. A stronger cooperation around semiconductors can curb the disruption of global supply chains.
With this paper, we contribute concrete ideas for what the TTC should achieve by the next US Presidential and European elections in 2024, and offer a clear roadmap, supported with success indicators for the short and medium term, to each of its Working Groups.
The window of opportunity for progress is closing. Let’s get working.
