Risk-sensitive innovation: leveraging interactions between technologies to navigate technology risks

Abstract

The advancement of low-emission technologies to curb climate change demonstrates how strategically managing the timing of technological developments can mitigate negative societal outcomes. We propose that a similar approach, which we term ‘risk-sensitive innovation’, can also address risks from emerging technologies like synthetic biology and artificial intelligence. Risk-sensitive innovation (RSI) leverages interactions between technologies to reduce specific risks across a technology portfolio. For instance, it may be beneficial to delay or halt risk-increasing technologies and preferentially advance risk-reducing defensive, safety, or substitute technologies. To be of practical use, RSI requires the ability to anticipate or identify impacts and intervene in the relative timing of technological advancements. Our analysis suggests that both are sometimes viable. Consideration of RSI may inform government research funding and technology regulation, as well as philanthropic research and development funders and corporate social responsibility measures.