<|begin_of_text|><|begin_of_text|><|begin_of_text|>Regulators often struggle to keep up with the rapid pace of new technologies which hurts businesses and consumers.
Whether it’s a cutting-edge gadget, an exciting software platform, or an advanced appliance, the latest technologies to hit the market can create a<wm> floodgate for innovation. However, while some regulators need a sharp vision, a thorough understanding of the dynamics and complexities, the pursuit of knowledge, innovation requires careful monitoring, timely assessment, and effective action.
In the example given, the smart grid technology was an early mover in this trend, and regulators were initially excited when utilities saw big potential for cost savings and reduced greenhouse gas emissions, before quickly becoming overly regulated. However, the need for a more structured, market-driven approach was recognized too late,</wm> and regulators struggled to keep pace.
On the whole, effective regulation is not a fixed or fixed model