Mastercard, SoftBank and others call on G7 to create tech group modelled on Financial Stability Board

The ‘Data and Technology Forum’ would help co-ordinate how member states tackle issues from AI to cyber security

The new body’s first three areas of focus would be co-operation on cybersecurity, the alignment of AI frameworks and the global interoperability of data.

Data flows have presented an increasing challenge for G7 countries in recent years. Last year, the European Court of Justice struck down Privacy Shield, a self-certification scheme that allowed U.S. companies to receive EU data.