How can we better understand the risks and rewards of various regulatory approaches, such as sandboxes, and design a system that balances the two? What types of data sharing between regulators and businesses would enable greater innovative activity in the UK?

Background

"Technology Strategy

As the team has a broad remit, there are a range of different areas of evidence needs. These are likely to be areas of ongoing enquiry, as we seek to keep abreast of market and technological developments. We are also interested in the interaction of these issues e.g. with systems approaches.


Evidence challenges
One of the main challenges we have is that SIC codes do not readily permit us to do analysis of technology sectors, so we need to use specialist datasets, bespoke studies or natural language processing to enable us to collect data on the issues.

We work with technology experts to define classifying methods.

How evidence is used
We already have databases on business activity and equity funding in the team, with access to other datasets across the Department on research activity, exports, skills, patents, IP, etc. We are nevertheless always interested in hearing about new data developments in this space.

We also have evidence from commissioned studies, and call for evidence responses.
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Next steps

If you are keen to register your interest in working and connecting with DSIT Science, Innovation, and Research Directorate, and/or submitting evidence, then please complete the DSIT-ARI Evidence survey - https://dsit.qualtrics.com/jfe/form/SV_cDfmK2OukVAnirs

Link to ARIs : https://www.gov.uk/government/publications/department-for-science-innovation-and-technology-areas-of-research-interest/dsit-areas-of-research-interest-2024

Related UKRI funded projects


  • Cross-sector regulatory sandbox

    The cross sector regulatory sandbox is a proposal to create a single point of entry sandbox where firms are able to test innovative propositions, in a controlled environment, overseen by multiple domestic regulatory agen...

    Funded by: Innovate UK

    Lead research organisation: THE FINANCIAL CONDUCT AUTHORITY

    Why might this be relevant?

    The project proposes a cross-sector regulatory sandbox to better understand regulatory approaches and enable greater innovative activity.

  • Advanced Regulatory Innovation EcoSystem (ARIES)

    The Advanced Regulatory Innovation EcoSystem (ARIES) project will explore the potential for the development of an AI based digital platform to support regulators to collaborate more effectively within their own organisat...

    Funded by: Innovate UK

    Lead research organisation: IDEAONOMY LTD

    Why might this be relevant?

    Partially relevant as it focuses on AI based digital platform for regulatory collaboration, but does not specifically address data sharing between regulators and businesses.

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