Just as businesses and individuals find ever more uses for digital and other new technologies, regulators are increasingly using them to make their operations more effective in the achievement of regulatory goals, and efficient in the use of limited resources. The pace of this transition accelerated with the onset of the COVID-19 pandemic, when risk prioritization and focus, as well as the use of new technologies to operate remotely, became increasingly important to balance risks. Regulators are conducting remote/mobile inspections, piloting e-certifications and following data centric approaches towards regulatory delivery. The pandemic has given new opportunities to explore the use of technology. However, the true potential of technological tools such as Machine Learning, Artificial Intelligence and predictive modelling towards risk-based regulatory delivery is yet to be realised.
The webinar aims to provide a space to analyse how challenges in regulatory delivery, emerging from Covid-19 crisis, have given regulators and subject experts from different jurisdictions and regulatory areas a chance to explore possible solutions through the use of more data-driven, technology-based, approaches to regulatory delivery. The webinar interventions will cover i.a. flexibility in regulatory inspections and enforcement during the crisis with a particular attention to the increasing relevance of technology and the consequent adoption of new practices. At the same time, challenges typical to data-driven initiatives, such as limits in access to data, infrastructure and capacity building and privacy issues will be discussed. The webinar aims at creating an opportunity to learn from the experience, share concerns, and find solutions allowing to achieve desired outcomes and secure effective recovery.