It Is Time for Regulators to Open the ‘Black Box’ of Technology
Lex Research Topics in Corporate Law & Economics Working Paper No. 2019-2
17 Pages Posted: 24 May 2019
Date Written: April 28, 2019
In this essay, we utilize our personal experience with two “data points” (namely policymakers and students) to argue that all levels of government need to re-evaluate current approaches to the regulation of emerging technologies. More specifically, governments need to delegate much of the “heavy lifting” and focus on community-driven regulatory design in which government and all of the stakeholders in technology companies work together in partnership to co-create robust and flexible regulatory architectures suitable for a fast-changing digital world. Such a shift in approach requires a new “digital mindset” amongst all participants in the policymaking process and, consequently, reforming education to ensure a greater degree of digital literacy is a vital first step in building durable long-term solutions to the urgent challenges of a digital age.
Keywords: Artificial Intelligence, Big Tech, Digital Transformation, Education, Emerging Technology, Government, Innovation, Privacy, Regulation, Reliance Economy, Sensors, Technology
JEL Classification: I20, I24, I26, I28, K10, K20, K30, L26, L50, O10, O30, O33, O38, O39
Suggested Citation: Suggested Citation