Israel joins WEF network to shape regulations for emerging technology

"The goal of joining the network is to create a shared global infrastructure and to unite international forces in dealing with these rapid technological changes," Dr. Ami Appelbaum said.

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January 24, 2019 05:38
1 minute read.
Deputy Head of the Economic Forum World Economy and Eli Cohen

Deputy Head of the Economic Forum World Economy and Eli Cohen. (photo credit: MORT SOMMES)

 
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Dr. Ami Appelbaum, Chief Scientist, Ministry of Economics and Industry signed a memorandum at the World Economic Forum on Wednesday to join the C4IR-Centers for the Fourth Industrial Revolution network in order to promote and improve regulation for new technologies.

"The goal of joining the network is to create a shared global infrastructure and to unite international forces in dealing with these rapid technological changes," Appelbaum said. "Israel's participation in the network will enable Israeli regulators to align with the world's leading regulation in the most advanced technological fields."

The Israeli government decided this week to join the network through Israel's Innovation Authority to advance the Israeli economy's readiness for new technologies by examining and making recommendations for relevant regulation. The forum would allow Israel to share, learn and consult with regulators from around the world.

The network explains its purpose is to deal with both the merits and risks of new technologies. "The extent to which the benefits are maximized and the risks mitigated depends on the quality of governance protocols – policies, norms, standards and incentives that shape the development and deployment of technologies," the website states.

"In the economic world characterized by technological innovation, the State of Israel is a key player. The results of the Bloomberg Innovation Index are further proof of this," Minister of Economy and Industry Eli Cohen said. "This is evident in the number of international companies that establish development centers in Israel and in the number of leading high-tech companies operating in Israel who wish to reach it."

The operational cost for joining the network is an estimated NIS 6 million per year. The cost will be split between the Prime Minister's Office, the Innovation Authority and the Ministry of Economics and Industry.

The World Economic Forum is an annual event that is taking place in Davos-Klosters, Switzerland January 22—25. 

The yearly conference brings together global leaders to "define priorities and shape global, industry and regional agendas."

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