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RI & IoT

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Davinah k
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13 views8 pages

RI & IoT

Uploaded by

Davinah k
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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R E G U LAT O R Y

INNOVATION
GROUP A L P H A

✔ Daisy Mukaru
✔ Kerago Mbugua
✔ Ruth Muthoni
✔ Daniel Mpakuo
✔ Davina Teta
DEFINITION
• Regulatory innovation refers to the development and implementation of new
approaches, strategies, or frameworks aimed at improving regulation within various
sectors or industries.

• can involve the introduction of novel policies, procedures, or technologies to


enhance regulatory effectiveness, efficiency, or responsiveness to changing
circumstances.

• In essence, it's about finding innovative ways to achieve regulatory objectives such
as ensuring safety, promoting fairness, or fostering economic growth while adapting
to evolving societal needs, technological advancements, and global trends.
TRENDS
Focus on Innovation:
• increasingly recognizing the importance of innovation in financial services, They are acknowledging the need to
support and foster innovation while managing associated risks.

Regulatory Flexibility:
• exploring more flexible approaches to regulation to accommodate innovation. i.e. the regulatory sandbox, which
allows firms to test innovative products and services in a controlled environment, demonstrate this trend.

Collaboration with Industry:


• seeking to collaborate more closely with industry stakeholders, including both incumbents and new entrants, to
better understand innovative business models and develop regulatory frameworks that support innovation.

Risk Management:
• focused on managing risks effectively while promoting innovation. They aim to strike a balance between
encouraging innovation and ensuring consumer protection and market stability.

Technology Adoption:
• embracing technology to enhance regulatory processes and oversight. i.e. using data analytics, artificial
intelligence, and other technologies to improve monitoring, compliance, and regulatory reporting.
EXAMPLES
• Fintech Regulation: the integration of technology into the financial service sector to improve their use and delivery to
consumers. In Kenya, the Central Bank has implemented regulations such as the National Payment System
Regulations and the Mobile Money Regulations to govern mobile money services like M-Pesa and other digital
financial products.

• Regulatory Sandboxes: The Capital Markets Authority (CMA) of Kenya introduced the Regulatory Sandbox in 2018.
a tailored regulatory environment where innovative solutions, products and services are put to the test. Through this
fintech startups companies are able to test their products and services in a more controlled environment, done under the
supervision of the CMA.

• ICT Innovation: The Communications Authority of Kenya (CA) regulates the ICT sector in Kenya. It has implemented
policies and regulations to support innovation and investment in telecommunications and digital services. i.e. it has
introduced frameworks for licensing mobile network operators and internet service providers, promoting competition
and innovation in the sector.

• Regulatory Reforms: The Business Regulatory Reforms Unit (BRRU) was formed in 2006, as a result of the 2006/2007
Budget Speech, in which the Minister for Finance proposed to set up. In Kenya it focuses on improving the business
environment by simplifying regulatory processes and reducing bureaucratic obstacles, allows to keep a permanent track
of all regulatory regimes and licensing in Kenya and ensures that new regulations, licenses, fees.
INTERNET OF THINGS
The Internet of Things (IoT) is a network of physical
objects equipped with sensors, software, and other
technologies to connect and exchange data with
other devices and systems via the internet.

can range from everyday items like cars and


household appliances to industrial machinery and
infrastructure.

It enables automation,
remote monitoring,
and data-driven decision-making in various domains,
from smart homes and cities to healthcare
and manufacturing.
How internet of things has
impacted business:
• 1.Streamlined Operation- by providing real time
data insights, enabling businesses to make
informed decisions quickly.

• 2.Customer care Efficiency- through personalized


IoT Impact on experiences and proactive issue resolution.

businesses • 3.Supply chain optimization- by offering real-time


visibility into inventory, enabling predictive
maintenance & improving the overall efficiency and
responsiveness.
CHARACTERISTICS OF IoT
• 1.) Interconnectivity: Everything can be connected to the internet, allowing them
to share information globally

• .2.) Thing-Related Services: The IoT can offer services related to physical objects,
like privacy protection and making sure virtual representations match the real
things

• .3.) Heterogeneity: IoT devices come in different types and use various networks,
but they can still communicate with each other.

• 4.) Dynamic Changes: IoT devices can change states, like going to sleep or waking
up, and their context, like location and speed, can also change. Plus, the number
of devices can vary

• .5.) Enormous Scale: There will be a huge number of devices in the IoT, way more
than what's currently connected to the internet. Managing all these devices and
the data they generate will be a big challenge

• .6.) Safety: Safety is crucial in the IoT, both for personal data and physical well-
being. We need to design with safety in mind, including securing endpoints,
networks, and data.
THANK YOU!
Any qns?

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