As the digital age progresses, emerging technologies are rapidly changing how societies and economies function. Businesses and the economy have become increasingly dependent on innovation, and governments must find a way to balance the need to protect citizens and competition with the need to encourage innovation. Since governments have become increasingly aware of the importance of these technologies, they have begun taking measures to ensure their citizens have access to these technologies. With two new publications, KPMG examines how governments can foster innovation, and how they can create efficient regulatory frameworks to ensure innovation flourishes. In order to better understand the best practices for setting up effective regulatory frameworks for innovation, KPMG reviewed the regulatory initiatives of other key markets to assess for applicability in the Kingdom. The two publications together provide a detailed examination of the challenges encountered when establishing effective regulations, as well as the importance of striking a balance between promoting innovation and protecting constituents. Innovating governments Saudi Arabia is investing heavily in building an innovation ecosystem to bring digital transformation to its operations, aiming to build a culture of innovation. In its first report titled, “Innovating governments – Driving innovation to deliver better public services,” […]
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