As the world becomes increasingly disrupted by technology, the meshing of industries and national borders, and sweeping social change, it is increasingly challenging to regulate markets and protect individuals. The disruption linked to climate change calls for swift, coordinated and precise action to stave off irreversible damage and build resilience. And with connected technologies and the ability to share news and opinion in an instant, people are more informed about the world and the policies that affect them than they have ever been.
Policymakers focused on regulation must therefore do many things at once. They need to prioritise people’s safety and wellbeing, adapt to social and technological developments, anticipate unforeseen risks, leverage data and evidence in decision-making, align with the regulations of key trade counterparts and reflect the diverse perspectives of groups that these affect. Where should they begin?
'Make or break: Regulating in a disruptive world' was a virtual panel discussion that placed the spotlight on the difficulties faced in regulating a fragmented world, and debates diverse paths to progress.
Among the key questions panellists discussed:
What are the biggest challenges for regulatory systems in a disruptive world?
Are today’s regulatory methods fit for purpose? What needs to change, and how?
What is the role of technology and data in setting new rules?
How could we collaborate better to regulate complex, interconnected cross-border risks?
How can regulators straddle increasingly divergent societal values and views?
Download the Foresight Review on the future of regulatory systems here.