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

See all articles by Mark Fenwick

Mark Fenwick

Kyushu University - Graduate School of Law

Erik P. M. Vermeulen

Tilburg University - Department of Business Law; Signify (formerly known as Philips Lighting) - Legal Department; Tilburg Law and Economics Center (TILEC); European Corporate Governance Institute (ECGI); Kyushu University - Graduate School of Law

Date Written: April 28, 2019

Abstract

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

Fenwick, Mark and Vermeulen, Erik P.M., It Is Time for Regulators to Open the ‘Black Box’ of Technology (April 28, 2019). Lex Research Topics in Corporate Law & Economics Working Paper No. 2019-2, Available at SSRN: https://ssrn.com/abstract=3379205 or http://dx.doi.org/10.2139/ssrn.3379205

Mark Fenwick

Kyushu University - Graduate School of Law ( email )

744 Motooka, Nishi-ku,
Fukuoka, Fukuoka 819-0395
Japan

Erik P.M. Vermeulen (Contact Author)

Tilburg University - Department of Business Law ( email )

Signify (formerly known as Philips Lighting) - Legal Department ( email )

Amstelplein 2
Amsterdam
Netherlands

Tilburg Law and Economics Center (TILEC)

Warandelaan 2
Tilburg, 5000 LE
Netherlands

European Corporate Governance Institute (ECGI) ( email )

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

Kyushu University - Graduate School of Law ( email )

6-19-1, Hakozaki, Higashiku
Fukuoka, 812-8581
Japan

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
69
Abstract Views
430
rank
364,497
PlumX Metrics