How can governments effectively navigate the delicate balance between promoting innovation and protecting the public interest when creating and enforcing regulations in rapidly evolving industries such as artificial intelligence and biotechnology?

Governments can effectively navigate this balance by engaging with industry stakeholders and experts to understand the potential risks and benefits of new technologies. They should also prioritize transparency and accountability in the regulatory process to ensure that regulations are evidence-based and responsive to public concerns. Additionally, governments can establish clear regulatory frameworks that provide flexibility for innovation while also setting clear boundaries to protect public safety and ethical standards. Collaboration with other countries and international organizations can also help ensure consistency and coherence in regulations across borders.