OECD Global Forum on Productivity Workshop - Berlin - 15 September 2017, Erik P.M. Vermeulen

1. Regulation Tomorrow
“What Happens when Technology is Faster than the Law”
Erik P.M. Vermeulen

2. 1980 1990 2000 2010 2020 2025
PC Internet
Social Media
Platforms
Artificial
Intelligence Blockchain
IoT
Robotics
Quantum
Computing

3. 1980 1990 2000 2010 2020 2025
PC Internet
Social Media
Platforms
Artificial
Intelligence Blockchain
IoT
Robotics
Quantum
Computing
Regulatory Systems
(usually facts-based)

4. “We Are Already Living in the Future”
Why Everyone Must Understand the Digital Age Now

5. PC
Internet
Social Media
Platforms
Blockchain
IoT
Robotics
Artificial
Intelligence
Photonics
Quantum
Computing

6. Technology and the Creation of New Markets

7. 0
100
200
300
400
500
600
700
0
1000
2000
3000
4000
5000
6000
2012 2013 2014 2015 2016
Amount ($M) Deals
Investments in AI

9. Technology
and the
Disruption
of
Existing
Markets

11. 90 years Age 9 years
1.1 million in 110
countries
Rooms/Listings
2 million in more than
191 countries
127,500 Employees 4,227
$17.8bn Valuation $30bn
$0.1m Value per Employee $7m
September 2016
Spurring Productivity via Technology?

13. ride-sharing delivery services
payment
AcquisitionsInvestors
Investments
Partnerships

14. 0
100
200
300
400
500
600
2001 2006 2011 2016
General Electric
Microsoft
Exxon
Citi
Walmart
Exxon
General Electric
Total
Microsoft
Citi
Exxon
Apple
PetroChina
Shell
ICBC
Apple
Alphabet
Amazon
Facebook
Microsoft
$B
Embracing Tech
Algorithmically-driven

16. 6Regulatory Responses
“Co-Creating” an Ecosystem
Be Part of the Conversation
Be Part of an Ecosystem “Co-Creating” Data
“Co-Creating” a Conversation/
Storytelling
R
Using Data
What, When & How to Regulate?

17. .0
5000.0
10000.0
15000.0
20000.0
25000.0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Source: PitchBook Data, Inc.
Wearables & Quan8fied Self
Virtual Reality
SaaS
Robo8cs and Drones
Oncology
Nano-technology
Mobile
Marke8ng Tech
Manufacturing
LOHAS
Life Sciences
Internet of Things
Infrastructure
HealthTech
Fin Tech
Ephemeral Content
EdTech
E-Commerce
Cybersecurity
CleanTech
Big Data
Autonomous cars
AudioTech
AdTech
3D Prin8ng
“Data-driven” Regulation

18. A forum to have a meaningful discussion
Be Part of the Conversation

19. Established
Companies
Innovators
Regulators
Regulatory
Dialogue /
Data-driven +
Storytelling
Joint Learning &
Capacity Building
Be Part of the Ecosystem

20. Regulatory Sandboxes
Australia
Brunei
Hong Kong
Indonesia
Malaysia
Netherlands
Singapore
Switzerland
Thailand
United Kingdom
Regulatory
Sandbox
Canada
Abu Dhabi
Bahrain
Mauritius

21. Regulatory Impact
Methodology
First-time “VC” Investments
in Fintech Companies
with operations in 12
Jurisdictions

22. -150
-100
-50
0
50
100
150
200
2014 2015 2016
India
Germany
Singapore
Switzerland
United Kingdom
Netherlands
United States
Hong Kong
Ireland
China
Russia
%
Israel
YoY %-Growth of “First-time” VC-Backed Fintech Companies
Slowdown in
Fintech?
Increasing
investment
activity?

23. -150
-100
-50
0
50
100
150
200
2014 2015 2016
% YoY %-Growth of “First-time” VC-Backed Fintech Companies
“Experimental”
Co-creation
“No Action”

24. Blockchain Technology
“A continuously updated record of who holds what” that
“everyone trusts to be accurate forever”
Disrupted Industries:
slow, bureaucracy, middlemen, legacy
systems, human error, corruption,
fraud, hacking

25. 1. Solving Societal Challenges
2. Emerging “Regulatory” Competition
3. Opportunities for Leapfrogging
Health and Wellbeing
Agriculture and Food Security
Safe, Clean and Efficient Energy Supplies
Financial Inclusion

26. Creating a Conversation/
Dialogue
The Value of Blogs is still
Underestimated

27. Collaborative Regulation
“Building the Future Together”

28. Join the conversation!
erikpmvermeulen
@erikpmvermeulen
medium.com/@erikpmvermeulen
e.p.m.vermeulen@tilburguniversity.edu