Our analysis revealed common challenges across the five Fourth Industrial Revolution technologies we focused on: artificial intelligence (AI); mobility (including autonomous vehicles); blockchain; drones; and the internet of things (IoT). These challenges include a lack of regulation, misuse of technology and challenges in addressing crossborder differences. For instance, one estimate suggests that bitcoin accounts for more than 90% of ransomware payments.1 And the lack of effective regulation of facial recognition technologies coupled with incidents of misuse by law enforcement agencies have caused a backlash against this technology throughout the world.
We profile a series of innovative governance and regulatory frameworks across the five Fourth Industrial Revolution technologies highlighted to address these and many other challenges. For example, Singapore’s AI governance framework can assist the private sector by providing guidelines on internal governance, human involvement, operations management and stakeholder communication.