The European Union (EU) Commission released its Draft Adequacy Decision for the EU-US Data Privacy Framework on December 13, which, in conjunction with President Biden’s executive order issued on October 7, will further facilitate trans-Atlantic data flows. The Draft Adequacy Decision mirrors the executive order, which established safeguards relating to the handling of personal information in the course of signals intelligence activities. If and when adopted, the adequacy decision will impact contractual requirements and processes by restoring data flows through a new Trans-Atlantic Data Privacy Framework.
Tech & Sourcing @ Morgan Lewis
TECHNOLOGY TRANSACTIONS, OUTSOURCING, AND COMMERCIAL CONTRACTS NEWS FOR LAWYERS AND SOURCING PROFESSIONALS
Please join us on Wednesday, December 14, 2022, at 12:00 pm to 1:00 pm ET, as Morgan Lewis partner Doneld G. Shelkey and associates Charlotte Roxon and Jesse R. Taylor explain the metaverse and current projects and initiatives, including blockchain-related transactions, that are laying the foundation for this new virtual space.
Although data security concerns may have held back early adoption, the COVID-19 pandemic accelerated cloud usage and digital transformation within public service organizations in many countries around the world. In a recent study, Accenture surveyed 364 public service executives at both the local and federal levels in six countries—Australia, Canada, Germany, Singapore, the United Kingdom, and the United States—to learn about the public sector’s cloud adoptions strategies.
On September 22, the Office of Communications (Ofcom)—the United Kingdom’s communications regulator—announced and released a program of work stating its intention to examine the position of the largest providers of cloud services (known as “hyperscalers”) in the United Kingdom’s £15 billion ($16.7 billion) cloud services market.
The German Higher Regional Court of Karlsruhe (OLG Karlsruhe) recently repealed the July 13, 2022, decision of the Procurement Chamber of the German state of Baden-Württemberg that had argued that the mere risk of access to personal data stored in the European Union by US authorities would constitute a data transfer that would not comply with the EU General Data Protection Regulation (GDPR).
The financial services regulations relating to outsourcing by Luxembourg-headquartered financial institutions have been significantly simplified by the introduction of the Commission de Surveillance du Secteur Financier (CSSF) outsourcing circular CSSF 22/806 (Outsourcing Circular).
On July 18, 2022, the UK government published high-level proposals for its approach to regulating uses of artificial intelligence (AI), as part of its National AI Strategy and, more broadly, its UK Digital Strategy. The government is seeking public views on the approach, which is contained in a policy paper; a more detailed White Paper will be published in late 2022.
Increasingly, companies have been looking to shift from non-cloud IT infrastructure to cloud-based solutions, and have allocated higher monetary resources to cloud-based IT infrastructure products such as compute and storage infrastructure. In fact, as reported by the International Data Corporation (IDC), Q1 of 2022 marked the first time that companies are now spending more money on their cloud-based compute and storage infrastructure than they are on their non-cloud-based IT infrastructure.
In June 2022, the UK government published its cross-government UK Digital Strategy for creating a world-leading environment in which to grow digital businesses. The Digital Strategy brings together various initiatives on digitalization and data-driven technologies, including the National AI Strategy. The government states that it is actively seeking to grow expertise in deep technologies of the future, such as artificial intelligence, next generation semiconductors, digital twins, autonomous systems, and quantum computing.
The COVID-19 pandemic introduced unprecedented challenges, requiring companies to adapt quickly to the way their personnel work, changes in their business offerings, and how they interact with their customers and suppliers. With some time to adjust to the “new normal” of the pandemic (and hopefully soon, the post-pandemic), many companies are looking ahead—with a potential economic downturn being top of mind.