Mankind has evolved over centuries interacting with nature and its resources to improve quality of life and also facilitate progress of the community, society and global knowledge. The process of learning has resulted in better use of natural resources as well as development of techniques, methodologies and technology aimed at speed, efficiency and better quality. Historical evidence suggests that a greater synergy and harmony between human beings, use of resources and appropriate technology gets superior and efficient outcomes.
Simultaneously, evolution of regulations and laws provided critical tool to ensure discipline and control over use of natural resources and also to ensure an ecological balance for sustainable development of mankind as knowledge progressed. An uncontrolled or poorly managed technological or scientific leap can also sometimes cause disaster like leaks in nuclear power stations or perhaps a leaked virus!!
Regulating technology for development.
Max Weber, Engels, Marx and many eminent researchers have elaborately studied the role of laws and economic development in various countries over time[1]. With changing social structures, economic systems and bureaucratic and political structures, the need for regulation and laws has been playing a positive role in providing directions to global development.
Regulation of rapidly developing technologies is a tremendously challenging area as it has overtaken the anticipated pace of change by individual nations as well the global institutions. New legal issues raised due to technological advancement raise questions over existing norms and regulations to transform to a new balanced regime. Comparing the Morse code in 1844 with modern Wi-Fi technology and applying similar regulations cannot be imagined (Mandel,2007)[2]. The situation is similar with most spheres of new technology, changing on a real-time basis.
Laws in most countries have a tendency to become rigid over time and ironically jeopardize the very purpose for which they were promulgated. The spirit and objective of laws is often lost in a complicated judicial system in many countries. This is the primary cause for generating a disharmony between optimal utilization of resources and sustainable development, particularly with rapid technological changes.
Complexities in legal language and a tedious judicial system in many countries have resulted in misunderstanding the noble purpose behind evolution of laws. Proper appreciation of the new technology is very critical while framing or amending existing laws. It is equally important that Courts are able to appreciate the new technological regimes to ensure fairness and optimal outcomes with aid of such regulations. A challenge for the judges to remain updated and appreciate the dynamic technology.
Real-time synergy
The role of technology should be perceived to aim at increasing efficiency and outcomes for all citizens while ensuring ecological balance for a sustainable development of the natural resources and the socio-economic-political environment around the world.
It is observed that due to the recent advances in technology, Government regulations have been patchy and inadequate, while self- regulation by the private sector is not sufficient to provide a holistic framework and long- term framework till now(MIT,2019)[3]. Adapting regulations after considering new supervision methods and potential threads, for staying ahead of the curve- should be the target of any National regulatory authority. This will go a long way in evolving new parameters for regulation with more confidence to all stakeholders in the medium and long run.
There have been consistent efforts in many parts of the world to evolve regulations with less time lag. In the field of biotechnology, agriculture and use of genome regulation in Sub Saharan Africa, significant work has been done. On similar issues however, in EU little progress has been made (Case studies,2020)[4]. Creating functional Biosafety frameworks, are part of evolving regulations in many countries, which will go a long way in generating confidence and also ensuring safety and fairness both to the producers and consumers, without creating absurdities and chaos in the system.
On the other hand, there are significant challenges in handling the technology driven digital trading, commerce, artificial intelligence and related industry, where global consensus is needed. Developing an International regulatory framework for this area is posing a greater challenge.
Strategies
Due to uncertainties and variations in the patterns and structures of contemporary and future technological developments, Gregory Mundel suggests 6 strategies to address the challenge[5].(a)Data gathering(b) Filling regulatory gaps (c)Strong Corporate leadership(d) Enhancing agency expertise(e)Regulatory flexibility and (f)More active stakeholder involvement.
Laws are tools aimed at achieving desired objectives of fairness and equity in general and have to be dynamic to address the changes in the technological and economic environment, both in domestic and global environments. Man- made laws are subject to quick tweaking closer to real-time changes. Challenges remain relating to multiple interests, data collection and mechanisms for change which are mostly rigid in most regimes.
Conclusion
Aim of any economic progress and development is to use technology for benefit of human beings, with focus on ensuring such technological developments to remain in the realm of positivity and sustainability. While many of the technological developments can be regulated with domestic and National regulations if adequate priority is given, the difficulties are more complex in arriving at global and International regulations, due to lack of consensus and conflicting interests.
It is posing a serious threat to society, economy and humanity at large if the “technology boom” is not regulated due to selfish economic and political greed of few Nations and entities. This might result in many more critical events like the current pandemic in future. Everyone has to rise to the occasion, as we are all serious stakeholders and lives and humanity is at stake.