Regulation Tomorrow “What Happens when Technology is Faster than the Law”
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The document discusses how technology is advancing faster than laws and regulations. It notes key technologies from 1980 to the present and projected to 2025 like AI, blockchain, IoT that regulations have struggled to address. The need for new regulatory approaches is discussed, including regulatory sandboxes, collaborative regulation, and building ecosystems through ongoing dialogue between regulators, companies and innovators. The value of emerging technologies like blockchain for solving societal issues is also presented.
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Regulation Tomorrow “What Happens when Technology is Faster than the Law”
- 1. Regulation Tomorrow “What Happens when Technology is Faster than the Law” Erik P.M. Vermeulen
- 2. 1980 1990 2000 2010 2020 2025 PC Internet Social Media Platforms Artificial Intelligence Blockchain IoT Robotics Quantum Computing
- 3. 1980 1990 2000 2010 2020 2025 PC Internet Social Media Platforms Artificial Intelligence Blockchain IoT Robotics Quantum Computing Regulatory Systems (usually facts-based)
- 4. “We Are Already Living in the Future” Why Everyone Must Understand the Digital Age Now
- 6. Technology and the Creation of New Markets
- 7. 0 100 200 300 400 500 600 700 0 1000 2000 3000 4000 5000 6000 2012 2013 2014 2015 2016 Amount ($M) Deals Investments in AI
- 11. 90 years Age 9 years 1.1 million in 110 countries Rooms/Listings 2 million in more than 191 countries 127,500 Employees 4,227 $17.8bn Valuation $30bn $0.1m Value per Employee $7m September 2016 Spurring Productivity via Technology?
- 14. 0 100 200 300 400 500 600 2001 2006 2011 2016 General Electric Microsoft Exxon Citi Walmart Exxon General Electric Total Microsoft Citi Exxon Apple PetroChina Shell ICBC Apple Alphabet Amazon Facebook Microsoft $B Embracing Tech Algorithmically-driven
- 16. 6Regulatory Responses “Co-Creating” an Ecosystem Be Part of the Conversation Be Part of an Ecosystem “Co-Creating” Data “Co-Creating” a Conversation/ Storytelling R Using Data What, When & How to Regulate?
- 17. .0 5000.0 10000.0 15000.0 20000.0 25000.0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Source: PitchBook Data, Inc. Wearables & Quan8fied Self Virtual Reality SaaS Robo8cs and Drones Oncology Nano-technology Mobile Marke8ng Tech Manufacturing LOHAS Life Sciences Internet of Things Infrastructure HealthTech Fin Tech Ephemeral Content EdTech E-Commerce Cybersecurity CleanTech Big Data Autonomous cars AudioTech AdTech 3D Prin8ng “Data-driven” Regulation
- 18. A forum to have a meaningful discussion Be Part of the Conversation
- 19. Established Companies Innovators Regulators Regulatory Dialogue / Data-driven + Storytelling Joint Learning & Capacity Building Be Part of the Ecosystem
- 20. Regulatory Sandboxes Australia Brunei Hong Kong Indonesia Malaysia Netherlands Singapore Switzerland Thailand United Kingdom Regulatory Sandbox Canada Abu Dhabi Bahrain Mauritius
- 21. Regulatory Impact Methodology First-time “VC” Investments in Fintech Companies with operations in 12 Jurisdictions
- 22. -150 -100 -50 0 50 100 150 200 2014 2015 2016 India Germany Singapore Switzerland United Kingdom Netherlands United States Hong Kong Ireland China Russia % Israel YoY %-Growth of “First-time” VC-Backed Fintech Companies Slowdown in Fintech? Increasing investment activity?
- 23. -150 -100 -50 0 50 100 150 200 2014 2015 2016 % YoY %-Growth of “First-time” VC-Backed Fintech Companies “Experimental” Co-creation “No Action”
- 24. Blockchain Technology “A continuously updated record of who holds what” that “everyone trusts to be accurate forever” Disrupted Industries: slow, bureaucracy, middlemen, legacy systems, human error, corruption, fraud, hacking
- 25. 1. Solving Societal Challenges 2. Emerging “Regulatory” Competition 3. Opportunities for Leapfrogging Health and Wellbeing Agriculture and Food Security Safe, Clean and Efficient Energy Supplies Financial Inclusion
- 26. Creating a Conversation/ Dialogue The Value of Blogs is still Underestimated
- 27. Collaborative Regulation “Building the Future Together”