The Elements of Big Data Value

Yvo Volman

DG Communications Networks, Content and Technology, European Commission, Brussels, Belgium

The global health crisis, growing concerns about the environment and mounting threats in the digital environment are changing our priorities. These threats and problems also come with opportunities and, very often, an important part of the solution to global problems lies in the digital transition, a better sharing of data and responsible, data-driven Artificial Intelligence (AI). Digital platforms have allowed us to keep society functioning in times of confinement. Data-driven AI helps to track infection chains, model disease-spreading patterns and assess the efficiency of alternative disease management options by means of simulation rather than by heavy, slow and expensive trial and error.

Although we have come a long way in terms of increasing the availability of data (especially for open data), there are still many obstacles to the sharing of personal, commercial and industrial data. Common European data spaces are a way to systematically eliminate obstacles to data sharing and enable a vibrant economy based on digitalisation and a safe and controlled flow of different kinds of data. Data spaces play a key role in making the world safer, more resilient towards threats and more friendly to the environment. For example, a data space in healthcare will allow an easy, yet safe and compliant, sharing of clinical and patient data to better track and combat diseases, as well as to develop better medicines and vaccines at a faster pace. An environmental data space will allow better models of climate, pollution and other environmental threats to be built. An energy data space will allow us to produce cleaner power efficiently, deliver it when and where it is needed, and reduce energy wastages.

The European Union is supporting the digital transition through its new 7-year framework programmes, Horizon Europe and Digital Europe. They will help create a greener society and economy, more resilience towards threats, and new opportunities for building businesses and prosperity. The Horizon Europe programme will support enabling technologies for secure data spaces, responsible AI and the green transition. The Digital Europe programme will support the actual building, operations and deployment of data spaces, gradually making large-scale, safe data sharing a reality.

Making data work for the economy and society is not only about technology. In order to progressively eliminate the legal, institutional and societal obstacles to data sharing, the European Commission recently proposed a data governance framework to allow the safe, fair and easy sharing of data – in compliance with all applicable legal and ethical requirements. The development of technology and the framework conditions need to be tightly coupled: one is not effective without the other. A broad involvement and constant interaction of businesses, academia, administrations and civil society is necessary to build a data economy that leads to prosperity, growth and jobs. Finally, it is of utmost importance that the whole value chain and computing continuum (cloud-fog-edge-IoT) is addressed when designing data-sharing infrastructures and facilities. This prerequisite is also clearly outlined in the European Strategy for Data, which was published by the European Commission on 19 February 2020.

To respond to these challenges, a structured and broad-based action is required. Until 2020 when it reached the end of its contractual term, the Big Data Value Public-Private Partnership (PPP) was a key instrument in supporting this response. This book and the upcoming PPP Monitoring Report 2019–20 will document an important milestone on the road to the data economy and will set the scene for the new Public-Private Partnership on AI, Data and Robotics, which is currently under preparation. The achievement of a thriving data economy – an ambitious goal set in 2014 when the first partnership was signed – is still a valid goal, and we are a big step closer to it. In the coming years, a much broader involvement of technology areas, research disciplines as well as sectors of business and society will be needed. As the Big Data Value PPP has in its past years of activity excelled in creating bridges to other relevant technology areas – high-performance computing, IoT, cybersecurity, Artificial Intelligence – the future looks particularly promising for the new endeavour, as many paths have already been opened.

Peter Körte

Siemens, Berlin, Germany

Artificial Intelligence (AI) is on everyone’s lips. Many countries and companies have launched an AI action plan and have undertaken activities for the adoption of AI, from research to deployment. Almost everyone and every sector now realises the huge business potential of AI – a fact underscored by official forecasts, such as the IDC AI Worldwide Spending Guide.

As with any truly disruptive technology, AI also raises concerns. Some of them belong to the realm of science fiction; we are nowhere near having AI algorithms that could mimic “general intelligence”. But even with the current state of the art, AI is a transformational technology that is bound to have a few unwanted side effects. Some of them are already well known, such as AI algorithms with a bias against certain individuals due to the way they have been trained, while others are yet to emerge. In his recent book AI Superpowers Kai-Fu Lee, former head of Google in China, rightfully acknowledges in his conclusion: “As both the creative and disruptive force of AI is felt across the world, we need to look to each other for support and inspiration”.

For all these reasons we should ask ourselves how we will handle this technology – how can we get the most out of it, how can we mitigate risks? Having clear answers to these questions is crucial because the huge potential of AI can only be realised if society not only understands the potential of AI, but also trusts that those who design and implement AI algorithms are fully aware of the risks and know what they do. The difficult adoption of biotechnology in countries like Germany is a painful reminder that this trust is by no means a given and needs to be earned.

The development of AI in Europe thus depends on several critical success factors. One is the obvious need to focus AI-related efforts on domains such as manufacturing, infrastructure, mobility or healthcare, where Europe is already strong and can make a real difference – for Europe’s competitiveness, but also in the fight against climate change and other societal challenges. The other is to strongly focus on responsible AI – the art of creating trustworthy AI solutions which are designed against transparent objectives in accordance with European values and implemented to reliably deliver on these objectives. This dual focus on industrial domain knowhow and European values is key to making “AI made in Europe” a success story.

In this endeavour, speed is essential. AI can shift the balance of power from incumbents to newcomers almost overnight. In the race for industrial AI, Europe’s strong domain know-how, embedded in world-class universities and research institutes, in a strong network of innovative small and medium-sized enterprises (SMEs), in world-leading suppliers of electrical and industrial equipment as well as industrial software, gives Europe a considerable head start. However, this head start is only temporary, and Europe is well-advised not to squander it. Fast-track programmes to exploit the opportunities offered by industrial AI are needed, the sooner the better. Europe also needs to get serious with the “better regulation” initiative and take bold steps to create a regulatory environment for AI-driven innovations to take root. Responsible AI is best developed and proven in practical projects, not in ethics councils. If needed, regulatory sandboxes, which have yet to be introduced at EU level, can be used to strike the right balance between innovative spirit and regulatory caution.

Last but not least, collaboration in ecosystems is indispensable in making Europe the pacemaker for industrial AI. Efforts by the European Public-Private Partnership on Big Data Value to establish a Data Innovation Ecosystem in Europe are exactly the right approach. Only through the sharing and joint exploitation of data, but without disregard for companies’ obligation to return a profit to their shareholders, can we power a value-focused data-driven transformation of Europe’s business and society. Most importantly, the Partnership acts as a hub for the European data community – researchers, entrepreneurs, businesses and citizens – to collaborate with one another across all the member states. Europe’s wellbeing depends on a productive and effective data innovation ecosystem which positions Europe as a front runner in artificial intelligence.

Noel O’Connor

Insight SFI Research Centre for Data Analytics, Dublin, Ireland

Data is the defining characteristic of the twenty-first century, its importance such that it is often referred to as the “new oil”. The ability to refine this resource, i.e. the ability to extract value from raw data through data analytics and artificial intelligence, is having a transformative effect on society, driving scientific breakthroughs and empowering citizens to create a smarter, better world.

Collaboration between researchers, industry and society to derive value from big data through data-driven innovations that enable better decision-making has been the driving force behind this transformation. Europe has been a leader in value-driven transformation through the Big Data Value PPP and the Big Data Value Association. This community has acted as the nucleus of the European data community to bring together businesses with leading researchers from across Europe to harness the value of data to benefit society, business, science and industry. As one of the largest research centres of its kind in Europe, the Insight SFI Research Centre for Data Analytics is proud to be at the heart of this community. In turn, we as a centre have significantly benefited from the openness of the European ecosystem and are committed to continue to invest in its collective endeavour to transform European society.

The book you are holding describes in detail the foundational “elements” needed to deliver value from big data. It clearly defines the enablers needed to grow data ecosystems, including technical research and innovation, business, skills, policy and societal elements. The book charts pathways to new value creation and new opportunities from big data. Decision-makers, policy advisors, researchers and practitioners at every level will benefit.