According to an article provided by Governing: The Future of States and Localities, “In just a few years, technologies once considered niche have become mainstream.” In that time, policies made at the federal, state, and local level have a difficult time keeping up. The policy makers are trying to keep the bad elements of the misuse of technologies away from overall economic and innovative impact. Data privacy is one of the hardest elements to keep from getting hacked. No matter if the data is business or personal, it’s important to keep that information protected. It’s important for legislative bodies to regulate technology advancements. In order for them to respond faster to these advancements, they have to establish new rules and regulations that accommodate these technology advancements. In my opinion, Federal, State, and Local legislative bodies need a panel of young people who work in tech. Any young individual with a background in computer science or cybersecurity would easily be able to keep up with the trends in order to aid the regulation process. If I had a say so in how to determine what regulations will be applied to each advancement, I have a few policies and procedures I would try. I would try adaptive regulation, regulatory sandboxes, and Risk weighted regulation. All three of these are principles to regulate emerging technologies. The adaptive approach does not make new rules, but instead makes changes to the rules already in place for specific technologies. Regulatory sandboxes allow regulators to test and experiment with the new technologies without following the regulations already set. Sandboxes will allow regulators to have a better understanding.
Risk weighted regulation can be extended to a dynamic regulatory approach, based on real time data flows between the companies and regulators. The resulting data would be compared to the regulations.
Works Cited
Eggers, W. D., Turley, M., & Kishnani, P. (2018, June 19). The Future of Regulation. Deloitte Insights. Retrieved April 7, 2022, from https://www2.deloitte.com/us/en/insights/industry/public-sector/future-of-regulation/regulating-emerging-technology.html
Greenblatt, A., Manzanetti, Z., & Newcombe, T. (2021, April 21). Legislators face tech-heavy agenda as they confront the future: Digital Issues To Watch. Governing. Retrieved from https://www.governing.com/next/digital-issues-to-watch-in-2020.html