What to expect in 2023

[ad_1]

The EU has an unusual IT strategy. While the US prioritizes the growth of global tech giants, the EU focuses on being the sector’s leading regulator.

In the year In 2022, the group introduced two tough new laws: the Digital Markets Act (DMA), which aims to strengthen competition in online services and the Digital Services Act (DSA), which aims to protect people from harm online. Analysts expect the regulatory drive to accelerate next year.

“The only thing we can be sure of is that next year there will be more regulation and increased regulatory enforcement,” said Alan Calder, the company’s chief executive. GRC International Groupa global provider of IT governance, risk management and compliance solutions.

Get your tickets for TNW Valencia in March!

The heart of technology is coming to the heart of the Mediterranean.

To gauge the detail, TNW asked IT professionals from across the bloc what they predict from EU policies in 2023. All expect significant changes in the law, with some technologies particularly prominent in their assessment.

Strict security

Our experts anticipate significant developments in cybersecurity regulation. Kostas Rosoglou, Shopify’s Head of Public Policy and Government Affairs for EMEA and International, highlighted the importance of the Digital Operational Resilience Act (DORA).

The recently passed regulation aims to streamline the financial sector’s approach to cyber security. In order to comply with the rules, organizations must review legacy IT systems and invest in potential investments in new software. This could be costly in the short term, but Rossoglou is optimistic that it will pay off. It expects security standards to increase, thereby limiting attacks, reducing downtime and saving money.

Although mandatory compliance is still a few years away, it will ultimately put financial institutions in a much stronger position to manage disruptions, breaches, unauthorized access and data loss, he said. “This is incredibly important given the highly sensitive data the financial sector holds.”

“It’s not too quick to realize.

Another is the Cyber ​​Resilience Act, which works through the European Union. This regulation sets cybersecurity requirements for connected devices, providing users with transparency on operations, testing, and general operations.

The law is currently in the consultation process. Rosoglou advises organizations to closely monitor its progress over the next year.

“It may be a year or two before it is completed and then organizations will be given a 24-month transition period to comply,” he said. “However, it is not too soon to know about future changes. Regular monitoring for updates ensures that businesses are ready for the changes in good time.