Europe eyes cybersecurity as a competitive advantage

Subject

EU cybersecurity.

Significance

The European Parliament (EP), Council and Commission last week reached an agreement on a new Cybersecurity Act. The proposal requires final ratification from the EP and the European Council to be enacted.

Impacts

• UK-headquartered technology firms will find it harder to maintain access to European markets post-Brexit.
• Brexit will likely widen the cybersecurity skills gap in the UK labour market.
• Tighter European cybersecurity will facilitate regional advancements in artificial intelligence applications.