The National Productivity Commission (Comisión Nacional de Productividad – CNP) published the preliminary version of a report titled “Disruptive Technologies: Challenges, Risks and Opportunities”. This document deals with the modernization of the state and the regulatory advance on this issue.

The report consists of several parts, some of which are related to labor and health issues. However, this time the focus is on the digital industry and platforms. The document published by the CNP could be an input to advance in the approval of new regulations.

Digital applications are the main topic of the document, described as facilitators in the transaction between bidders and claimants. This happens thanks to the expansion of mobile devices and means of payment, which increase the number of operations and reduce costs. Areas such as competition, consumer protection, taxes, labor relations and personal data present a huge challenge in this context, which the entity intends to observe initially in sectors such as transport, financial technology, accommodation or health.

The document states that regulations in those areas are incomplete, in relation to the current conditions in which they are carried out. For example, even though applications such as Uber entail lower costs, their greater competitive capacity and efficiency make necessary new regulations to protect traditional means of transport, such as taxi. Regarding financial technologies, new mechanisms used for purchasing have demanded an update of different regulations. However, open banking and alternative financing options are still not legislated.