The regulator of tomorrow
Rulemaking and enforcement in an era of exponential change
Regulators and regulations play a critical role in society—but one that may need to evolve to remain relevant and effective in the face of technology-induced change.
In recent years, the persistence and scale of technology-induced change have led many to doubt the value and practicality of government regulation. Although this discussion continues, regulators and the regulations they create and enforce still play a critical role—but one that may need to evolve to remain relevant and effective in the face of technology-induced change.
This report examines the challenges that regulators face in our rapidly changing world from keeping up with technical and business model innovations and the growth in the number of suppliers of goods and services, to dealing with the increasingly digital nature of their constituents and the changing attitudes and behaviors of industries and consumers. The paper then identifies opportunities for leaders of regulatory agencies to navigate today’s challenging landscape and prepare for the future—both in the way they make rules and the way they enforce them. In many ways, regulators can harness the very trends that have caused disruption and use them as a means to modernize regulatory practices and increase effectiveness.