Reinvent Public Sector Regulation
How can we advance government regulation by utilizing advancements in the private sector?
Technological advances in the private sector are often not realized in public sectors. Our roundtable anchor, Tim O’Reilly, presented ideas about algorithmic regulation that could be applied to regulation in the public sector to improve the effectiveness and responsiveness of traditionally clunky systems. Those overseeing Google search, for example, set their sights on ultimate outcomes (getting accurate answers), try multiple paths forward, constantly runs tests and study the data, and incrementally make adjustments to fine-tune the best results. Government regulators could use a similar iterative, data-driven approach. We leveraged top brains from Google, the startup Sift Science and the US Treasury Department to discuss what the government can learn from tech companies. Much of the roundtable session focused on what’s currently missing and what needs to be done next to scale these new notions of regulation. All agreed there is much potential for innovators inside and outside of government to work together to accelerate changes in the years ahead.