The advancement of digital technologies – such as cloud computing, the Internet of Things, autonomous systems, trusted data analytics, and the next generation of digital products, services and applications – present challenges for governments, policy-makers, regulators, standards-setting bodies and industry.
It’s always a fine balance when it comes to regulation and red tape; we need regulation to reduce risks to the community, but we don’t want to hold people back from innovating and creating new businesses.
The digital economy is changing our markets and encouraging new business models. For example, online platforms are lowering the barriers to entry for people to start trading and selling with customers. However, outdated or inconsistent regulation can stifle innovation and drive up costs. Emerging technologies can also present new risks to the community around privacy, security and ethical concerns.
We want to hear from you on how you see regulation and red tape affecting Australia’s digital economy, whether from a business perspective, or managing the impacts on the community from emerging technologies.
Here are some questions to get you started:
Do you think our current regulations are adequate for today’s digital economy? Has your ability to innovate been impacted by regulation that seems out of date or inconsistent?
What are some of the potential issues on the horizon?
What approach should governments take to regulation and the digital economy? Try and get ahead of emerging technologies and business models, or take a ‘wait and see’ approach?
What are the implications of autonomous systems making decisions for us or around us (for example, autonomous vehicles)? How do you think these issues should be managed?