What does the new EU Data Act bring to companies, innovators and how it impacts AI based services?

From smartphones to smart cities, connected objects are generating ever more data. The European Parliament wants to release its potential. Data is key to innovation in sectors from technology to health, transport to farming. Members are concerned too much of it remains untapped or in the hands of tech giants. They want new rules to help smaller companies and public bodies deliver better products and services. The Data Act will set a framework for the economy of tomorrow.
This draft legislation, adopted on Tuesday 14 March, would contribute to the development of new services, in particular in artificial intelligence where huge amounts of data are needed for algorithm training. It can also lead to better prices for after-sales services and repairs of connected devices.