World Economic Forum looks to get a GRIP on global regulatory environment

A new piece written by the World Economic Forum (WEF)’s head of digital inclusion, Kelly Ommundsen, looks at the gap between technological advancement and regulation, and introduces the Global Regulatory Innovation Platform (GRIP), a collaboration between WEF and  the UAE’s General Secretariat of the Cabinet.

Arguing for a “clear and enabling regulatory environment,” Ommundsen says that, when regulation can’t keep pace with innovation, “it is not just a technical failure; it’s a societal one.”

GRIP aims to bring agile governance principles to the regulatory environment, to replace “traditional regulatory approaches – characterized by top-down control and infrequent updates,” which are “increasingly unfit for the pace, scale and complexity of modern technological change.”

“What is required instead is a transition towards regulatory systems that are iterative, responsive and co-created with a range of stakeholders,” writes Ommundsen. “GRIP aims to help scale this model globally, offering a practical mechanism through which regulators and innovators can work together to manage risk while fostering societal benefit.” Its stated goal is to “build trust, reduce uncertainty and accelerate innovation that serves the public good.”

‘From reactive rule-making to anticipatory, agile governance’

“Public expectations around technology governance are evolving rapidly. People are increasingly demanding transparency, accountability and inclusivity in how technology is governed. They want to know that the systems affecting their lives – from facial recognition to algorithmic decision-making – are fair, safe and subject to oversight.”

Practically, GRIP will “support the co-design and testing of new regulatory tools, produce case studies and insights, and facilitate peer learning among governments and stakeholders. It will host regulatory sandboxes and facilitate public-private partnerships. And, “most importantly, it will champion a shift in mindset: from reactive rule-making to anticipatory, agile governance.”

The author posits the UAE has “emerged as a pioneer in innovation-friendly governance, from creating one of the world’s first AI ministries to pioneering flexible licensing models for startups.”

The regulatory sandbox model, pioneered by the UK’s Financial Conduct Authority for fintech innovation, also gets a nod for adoption in more than 50 jurisdictions worldwide. “Other countries are experimenting with models of adaptive or outcome-based regulations that enable regulations to evolve with technological advancements and market changes.”

Thus, the author says, GRIP “is not just a platform – it is an invitation. It calls on regulators, innovators and communities to reimagine how we govern technology together. It seeks to create a global movement for agile regulation that learns continuously, adapts quickly and prioritizes human outcomes over bureaucratic processes.”

“The opportunity is significant. When regulatory frameworks are clear, proportionate and responsive, they don’t just allow innovation, they accelerate it. They give entrepreneurs confidence to invest, citizens trust in new technologies and leaders the tools to guide technological progress in the public interest. At a time when our systems are being stress-tested by both technological disruption and geopolitical instability, the case for modernizing regulation is stronger than ever.”

UK Regulatory Innovation Office, digital regulators to develop resource

In the UK, regulators are already on the problem. The Regulatory Innovation Office has partnered with digital regulators to launch a digital resource for providing increased clarity on AI regulation.

A report from MLex says the Regulatory Innovation Office, a body within the Science, Innovation and Technology ministry, will work with the Digital Regulation Cooperation Forum, a group of regulators with responsibilities for digital regulation, which includes the Competition and Markets Authority, the Financial Conduct Authority, the Information Commissioner’s Office, and Ofcom.

The goal is to create a “single digital library to help innovators bring AI products to market quicker and easier,” in the words of UK Technology Secretary Peter Kyle. Stressing the need for speed in keeping pace with technological development, Kyle says he believes the UK is “hungry for the AI revolution and not to be left behind by it.”

‘No grace period’ for AI Act, says European Commission

Also running the race is the European Commission, which has refused to slow down on rolling out the AI Act, despite requests from Apple, Google, Meta and others to delay it by years.

Arguments from various tech lobbies tend to lean into the assertion that tighter regulations will hurt the EU’s competitiveness. TechRepublic reports that the EU AI Champions, a group of 45 European companies including SAP, Spotify, Mistral, Deutsche Bank, and Airbus, has urged the Commission to “propose a two-year ‘clock-stop’ on the AI Act before key obligations enter into force.”

But the Commission has no intention of stopping the clock on the act, according to a report from Reuters, which includes this quote from spokesperson Thomas Regnier: “There is no grace period. There is no pause. We have legal deadlines established in a legal text.”

Article Topics

AI  |  AI Act  |  EU  |  Global Regulatory Innovation Platform (GRIP)  |  regulation  |  UAE  |  UK  |  UK Regulatory Innovation Office  |  World Economic Forum