The Dimensions of RI

From my research, I have found that that the issues regarding responsible innovation are well known to scholars in the field of science and technology studies. More recently, concepts of anticipatory governance and technology assessment has been drawn together into the emerging concept of responsible innovation; which suggests that to innovate responsibly entails an institutional commitment to be: anticipatory, reflexive, deliberative and responsive.

a)       Anticipatory – describing and considering plausible intended and unintended broad impacts and consequences of the financial innovation.

b)       Reflexive –. ethically reflecting on underlying purposes, motivations and potential impacts of the financial innovation,  what is known, what is not known, associated uncertainties, risks, areas of ignorance, assumptions, questions and dilemmas.

c)       Deliberative – inclusively opening up such reflection to broad deliberation involving stakeholders, users and public.

d)       Responsive – using this collective ‘reflexive capital’ to adjust the trajectory of financial innovation in response, in an iterative and flexible way that keeps options open.

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