The RIO will support regulators in updating regulations, speeding up approvals, and ensuring different regulatory bodies work together smoothly. The RIO will also advise the government of regulatory barriers to innovation, set priorities for regulators that align with the government's broader aims, and support regulators in developing the capabilities needed to meet them. The RIO's mission will support the growth of four fast-growing areas, including engineering biology, space, AI and digital in healthcare, and connected and autonomous technology.
DSIT confirmed that it is looking to appoint a Chairperson to lead the RIO.
In related news, Pinsent Masons reports on a Digital Regulation Cooperation Forum (DRCF) initiative that allows companies to seek informal advice from multiple regulators on new products, services, and business models has received 16 applications since its launch in April. As of 30 September, the AI and Digital Hub, which aims to support innovation and economic growth, has dealt with a range of topics, including AI digital marketing tools, age estimation and verification, AI and data analytics in healthcare, the EU Artificial Intelligence Act (AI Act), plus AI tools in finance and FCA certification.
The initiative seeks to understand the impact of the current legal and regulatory framework on AI and digital innovation and plans to publish anonymised case studies.
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