June 6, 2019
Theme: Resources - A Nimble Regulatory System for the 21st-century
For Canadians working in the resource sector, Canada’s regulatory system has been top of mind. There can be no doubt that the cancellation of the Northern Gateway project and suspension of Transmountain have raised significant concerns about the predictability, objectivity and capacity of Canada’s regulatory system to support the completion of major infrastructure projects.
At the same time, Government’s are being pushed to create regulatory systems that nimble and agile enough to manage the pace of change promised by artificial intelligence, internet of things systems, and virtual reality. This dinner series explores a relatively simple question: what might a 21st-century regulatory system look like, what new technologies might it be able to incorporate to lower the costs of project management, and generate more data to make the approval system simpler and ensure public trust in major projects?
For instance, the Calgary based start-up Veerum, has developed digital twin technologies that allow infrastructure projects to fully simulate the affects of time and adverse events on infrastructure projects. Technologies like this could simplify the environmental assessment process, reduce the work of regulators, and lower project costs. Technologies such as these and steps we need to take to incorporate cutting edge technologies into the assessment process deserve attention and could be key to restoring Canada’s competitiveness and building the infrastructure to support our energy producers.
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