The president-elect’s approach and regulatory policies towards the executive branch generally affect a variety of emerging technologies. Self-driving cars provide case studies on the various impacts of regulatory philosophy on emerging technologies. Winners of the 2020 presidential election should be careful not to impose excessive regulatory barriers on emerging technologies that could impede beneficial innovation.
While much of the debate in technology policy revolves around long-standing issues, innovation raises a number of challenges. New technologies for self-driving cars, artificial intelligence, and 3D printing include not only completely new products, but also new applications and improvements to existing technologies. These emerging technologies are evolving publicly and rapidly, and applications often pose new regulatory issues. This is a challenge for policy makers.
In some cases, President Donald Trump and Democratic presidential candidate Joe Biden have shown how to tackle a particular technology, but the policies of a particular technology are quickly obsolete due to innovation. As consumers continue to adopt new technologies, policy makers also need to adapt the governance of these technologies. The approach taken by the winners of the 2020 presidential election on the governance and regulatory environment of emerging technologies, as well as the approach to specific technologies, will affect not only specific innovations, but also the broader innovation environment.
Regulatory status and innovation
For a variety of reasons, many technologies are increasingly dominated by agency behavior rather than law. In particular, new technologies such as 3-D printing, artificial intelligence, and transportation are often dominated by soft laws, best practices, and workshops rather than more formal regulations. Often, in emerging technologies, this approach adapts to more flexible and rapidly changing technologies, but to ensure that they do not move to overly burdensome and unaccountable regulations. An important check is needed.
Regulatory policies for the winners of the 2020 presidential election will impact many innovations, as regulatory conditions are increasingly affecting a variety of technologies. As American Action Forums regulatory experts Dan Bosch and Dan Goldbeck discussed in an analysis of the candidate’s regulatory policy, President Trump has primarily focused on abolishing or significantly amending regulations during the Obama era. We plan to continue this approach in the future. If elected president, former Vice President Biden will seek to revive or strengthen the rules of the Obama administration, which was rolled back by the Trump administration. Tightening regulations not only put a strain on the technology in question, but can also inform innovators that they should expect government approval to be required before they can begin their activities. Such an approach is only potentially dangerous behavior, as innovators and entrepreneurs need to stay up-to-date with the government rather than focusing on improving products and responding to consumer demands. It can also discourage potentially beneficial behaviors.
Case study: Transportation innovation
From e-scooters to unmanned aerial vehicles to drones, many emerging technologies have disrupted transportation. This field of technology provides useful case studies of the two candidates in different policies, as the approach taken to transport policies for these emerging technologies at the federal level will impact the future of innovation.
Under the Obama administration, the initial Ministry of Transport guidance on self-driving cars was prophylactic, focusing on curbing potential worst-case scenarios rather than enabling beneficial use of this technology. I did. As a result, innovators may choose to pursue the development of this technology elsewhere. This innovation arbitrage, in which innovators choose to pursue technology in a more favorable regulatory environment, occurred, for example, in the testing of delivery drones. As Adam Thierer and Caleb Watney of Mercatus Centers pointed out at the time, [highly automated vehicle] Entrepreneurs will feel that the Americas’ approach to innovation policy is building decks on them, and they will seek alternatives where experiments can continue relatively unabated. The Biden administration is likely to return to the Obama administration’s preventative regulatory approach, which requires more information and permission to pursue innovation.
In contrast, under the Trump administration, the Ministry of Transport has taken a more practical approach and is encouraging self-driving cars to take advantage of informal agency behavior. This approach recognizes that changes to current regulations may be required, and certain standards need to be addressed at the federal level rather than at the state or local level, but this rapid emergence. It does not contain or direct all the elements of the technology you are doing. In addition, this approach aims to enable the benefits of innovation, rather than focusing on establishing stringent protocols that can limit or deter unpredictable improvements. Nonetheless, the soft law approach needs to be clarified as innovation progresses, and such informal actions are subject to industry capture or unchecked power of regulatory status. It is necessary to check so that it does not become an expression.
Supporting innovation with regulatory policies
The overall regulatory environment can send innovators important signals about their experimental and entrepreneurial abilities. For example, some innovations may require a federal framework. It can encourage improvement and entrepreneurship by resolving potential conflicts in state law and overcoming state and local regulations that impede innovation. Continuing the light touch approach adopted by many technologies and investigating the need for regulatory burdens on others will help continue the innovative leadership of the United States in many areas and applications.
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