Emerging technologies, such as nanotechnology, genetic engineering, and artificial intelligence, raise societal and ethical concerns, which cannot be tackled by legislation only.
Multi-stakeholder initiatives (MSIs) provide effective governance solutions for such fast-paced environments, but only if they are setup in the right way. Principle-based MSIs are easily accessible for businesses, strengthen their credibility, and provide them with a reference basis for decision-making. International examples show that MSIs can also ensure high levels of quality and effectiveness.
The LIV_IN project recommends establishing an MSI for Responsible Innovation in the digital sector based on a set of principles and viable mechanisms for voluntary monitoring and enforcement. The flexibility of this MSI would secure competitive advantages of the digital industry in the EU, while stakeholder involvement would effectively address societal and ethical concerns early on.
Multi-stakeholder initiatives as a governance mechanism
Successful MSIs apply principle-based approaches
Examples of principle-based approaches in MSIs
Initiate an MSI for Responsible Innovation in Industry
Establish Principles for Responsible Innovation in Industry
Ensure viable mechanisms for monitoring and enforcement