Introduction: Defining the Concept of Emerging Technology Governance
Emerging technology governance is a complex yet essential discipline, concerning the regulation, management, and policy implications of new and still-evolving technologies, such as Artificial Intelligence (AI) and Blockchain. These emerging technologies carry significant potential for economic growth and societal impact, transforming products and services across multiple sectors. By harnessing these technologies’ potential benefits alongside mitigating the risks associated with their growth and use, stakeholders can create new strategic opportunities and spur innovation.
Blockchain and AI: Market-Centered Digital Governance
To understand the political implications of emerging technologies like blockchain, one must appreciate the pivotal role of blockchain technology and Artificial Intelligence (AI) in the Fourth Industrial Revolution. Blockchain technologies, like distributed ledger technology (DLT), offer transparent, secure, and tamper-proof systems for recording transactions. Blockchain-based platforms, secured by smart contracts and peer-to-peer networking, could be used to decentralize personal data control, thus elevating data privacy levels and identity management. On the other hand, AI, including Machine Learning (ML) and Deep Learning (DL), offers sophisticated decision-making capabilities, fueling advancements in sectors like supply chain management, e-commerce, healthcare, and open access to information.
Role of User-Centric Organizations in Digital Governance
Emerging technology governance is paramount in building user-centric organizations. The increasing use of blockchain technologies, and need for enhanced data privacy considerations creates a critical role for organizations to act as data stewards. User-centric organizations can build trust in the digital economy, ensuring the responsible use of blockchain, AI, and other new technologies in a way that respects users’ data privacy considerations while still allowing for innovation to thrive.
Approaches to Regulating Fourth Industrial Revolution Technologies
Public Sector’s Role in Governing AI and Blockchain
Public sector authorities, such as governmental agencies, play a crucial role in shaping the governance of emerging technologies. They can enact regulations to protect citizens from digital technologies’ potential misuses, stimulate economic growth through supportive policies, and use blockchain or AI to enhance public services. They can also lead by example, by using blockchain and AI in their operations, they can showcase the potential benefits of these technologies to the broader public.
The Challenge of AI and Digital Technology Regulations Across Borders
Cross-border governance of emerging technologies, particularly AI and blockchain, remains challenging due to globalized digital infrastructures and the decentralized nature of blockchain technologies. Yet, international organizations such as the World Economic Forum have already started to advocate for harmonized global governance frameworks that could facilitate the international use of AI and Blockchain technologies across different jurisdictions..
Common Ground in Emerging Tech Platforms Self-Regulation
It is pertinent to identify the common ground in emerging tech platforms’ self-regulation, which include blockchain-based and Artificial Intelligence-driven systems. Regularizing aspects such as data privacy, management of personal data, and supply chain transparency, especially in making use of smart contracts, could help reconcile divergent interests and establish a beneficial framework of governance.
Soft Law Frameworks in Emerging Technology Governance
Meanwhile, soft law, such as guidelines, recommendations, and codes of conduct, can also act as a flexible tool for governing emerging technologies, and can adapt more easily to technological changes than harder legal or regulatory frameworks. These soft laws can help businesses and users to ethically use AI and blockchain.
Conclusions: Future of AI and Blockchain Governance
With the rapid evolution and widespread use of Emerging Technologies, effective and flexible governance mechanisms are imperative. Future governance of AI and emerging technology should have people-centered, inclusive, and cross-border features.
Authors Contribution to Blockchain and AI Governance Research
In this article, the author seeks to provide insights into the intersection of AI and blockchain usage and their governance challenges. The author outlines the key issues, opportunities, and challenges in emerging technology as well as potential future trends in this area.
Conflict of Interest Statement
The author declares that the research was conducted in the absence of any commercial or financial relationships that could be construed as a potential conflict of interest.
Note from the Publisher
This article is under the terms of the Creative Commons Attribution License, which permits use and distribution, provided the original version of this article is cited properly.
Footnotes on AI and Blockchain Governance
Written with the support of the Open Access Publication Fund, this publication is the result of intensive research on emerging technologies.
References on Emerging Technology Governance
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