World Economic Forum Creates Global Councils for Governance of Emerging Technologies

World Economic Forum Creates Global Councils for Governance of Emerging Technologies

By Nnamdi Odumody

The World Economic Forum recently established six Global Fourth Industrial Revolution councils which will fashion out governance frameworks for emerging technologies. With a focus on artificial intelligence, autonomous mobility, blockchain, drones, internet of things and precision medicine, the global councils are a convergence point for more than 200 leaders from the government, private sector, civil society and academia from around the world.

Global Fourth Industrial Revolution Councils will:

  • Enable cross-country exchange of policy and regulatory experience, including through case studies;
  • Identify and take action to address gaps in public policy or corporate governance through multistakeholder cooperation;
  • Shape a common understanding of “best” or “good” policy practice as a means of enabling better policy coordination within and among countries;

  • Provide strategic guidance to the Centre for the Fourth Industrial Revolution Network regarding the governance projects and pilots it undertakes.

The Councils members will work together to develop policy guidance and address ‘’governance issues’’ for emerging technologies. According to Richard Samans, Managing Director and Head of Policy and Institutional Impact at the World Economic Forum, companies and governments are not moving fast enough to anticipate social expectations in the Fourth Industrial Revolution, and that this bottom up, societally focused approach can help to build and maintain public trust in the technologies while strengthening evidence, upon which policy decisions are made by governments and companies.

Technologies for industry 4.0 (source: researchgate)

The Global Fourth Industrial Revolution Councils will enable cross country exchange of policy and regulatory experience including through case studies, identify and take action to address gaps in public policy or corporate governance through multi-stakeholder cooperation, shape a common understanding of best or good policy practice as a means of enabling better policy coordination within and among countries, and provide strategic guidance to the Centre For The Fourth Industrial Revolution Network, regarding the governance projects and pilots it undertakes.

The Councils Chairs includes leaders from the Chinese Academy of Medical Sciences, Dana Farber, European Commission, Microsoft, Uber, World Bank, etc.

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