Zeeshan Ejaz Clip 008

Efficiency in Regulatory Systems: A Critical Analysis

Current State of Regulatory Bodies

• The speaker discusses the perception of regulatory bodies as efficient, particularly from a digitalization perspective. However, they highlight that while user interfaces have improved, the underlying structures remain outdated.

• There is an excessive employee ratio and high human engagement within these systems, which opens avenues for corruption and bribery.

Technology Introduction and System Flaws

• The speaker acknowledges both positive and negative aspects of current systems. They note existing flaws that hinder efficiency but recognize the introduction of technology as a beneficial development.

• They compare different global systems, indicating that some regions are performing better than others in terms of technological integration, specifically mentioning advancements like real-time verification.

Progress in Digital Initiatives

• The discussion highlights significant progress made in online filing and real-time verification since 2007. However, this advancement has been limited to certain sectors.

• The speaker points out challenges faced during the implementation of initiatives like white striping due to existing legal frameworks that complicate progress.