SME Panel 1: Business Practices with Data - AI and Smart Contracts 

The European Commission is conducting a consultation with European companies on data-based business models. This panel focuses on:

• Use of Data Contracts: Models where customers agree to provide their personal data in exchange for not having to pay for the products offered by the company, usually digital content or services, or in exchange for a commercial discount on these products (e.g., free access to websites in exchange for providing data through cookies, or reduced fees for accepting personalized advertising).
• Business Practices Based on Product Data: Companies that sell products at their usual price (e.g., smartwatches or connected vehicles) and use personal or non-personal data generated by the use of these products for various commercial or non-commercial purposes.

SME Panel 2: Automated Contracts - AI and Smart Contracts 2024

The Commission is studying new forms of contracting made possible by smart contracts and artificial intelligence (AI), as well as the economic importance of using these technologies to achieve the transition to a digital economy and the challenges these may pose for businesses and other stakeholders.

What does this consultation study?

• The use of AI solutions for contracting, where AI-powered software intervenes in contractual processes, such as drafting, reviewing, signing, or executing contracts, or entering into contracts for individuals and legal entities.
• The use of smart contracts, which are legally binding contracts where some or all of the rights and conditions associated with the contract are defined or performed by executing code through blockchain or distributed ledger technologies.

This consultation is aimed at companies and will help develop policies that address market implementation and existing obstacles to fully leveraging the advantages of these technologies.

Companies from all sectors and Member States are invited to participate. The deadline for submitting responses is September 16, 2024.

The questionnaire will take no more than 5 minutes to be completed.