Digital technologies have become the primary means through which societies and economies operate. Different jurisdictions are regulating technologies in different ways, but they all face similar challenges.
RAID does not take sides. It is a platform equally for Europe, the US, China, for technology companies, big and small, and for our common humanity. While differences in socio-cultural and political norms exist and are reflected in regulatory frameworks, these differences are much smaller than the common ground that unites us – and the common challenges we face.
The RAID agenda tackles major global concerns: the size and power of big tech; the growing strength of AI; financial instability; the reach and status of platforms; data protection; and polarisation.
The cross-border nature of fintech, the move of big technology companies into payment and other banking services and the prospect of digital currencies all pose a risk to the stability of financial systems. As Europe sets out its regulation on Markets in Crypto Assets (MiCA) and as the US and China’s anti-monopoly activities impact the fintech sector, RAID enables the financial services sector and its regulators to work together.
The EU’s adoption of GDPR more than three years ago benefited businesses by helping to increase consumer trust, and now China is set to follow suit with its Personal Information Protection Law. The US is yet to establish a centralised legislative approach, but different states and industries are all raising standards, faced with public concerns over their privacy. RAID brings data protection commissioners together to help create a level playing field and establish where legislation needs to develop further.
As much as technology brings us together, and as much as we have in common, there is a risk that technology and its regulation can contribute to polarisation. Instead of highlighting differences and disputes between regions and between the public and private sector, RAID seeks to rebalance the conversation and promote constructive cooperation. Technology transcends borders; regulatory mechanisms must also be able to do the same, which is why RAID focuses on international cooperation to resolve differences and build on shared interests.
RAID has been at the frontier of how technology transforms society, business and government in Europe, China and the US since 2017, when RAID (www.raid.tech) was launched by Cavendish Group in partnership with the Fondation Prospective et Innovation.
These events brought together cross-sector industry leaders and government officials from China, Europe and the US to express balanced views on the challenges and opportunities of Robotics, AI, IoT & Data.
Since then, the effects of the Covid-19 pandemic have turbocharged the rise and influence of technology and its developers. Harnessing the power of technology in an equitable manner has become an even more critical area of common interest for governments, industry and society, at a time when open, constructive dialogue between regions is under threat. The benefits of developing strong technology regulations together are far greater than the benefits of protectionism and unilateralism, which bring far greater risks.
We welcome you to join this impartial and independent forum to help unite a polarising world.