Article: The regulatory technology of the future - AI’s and Big Data’s impact on RegTech
Regulatory technology, or RegTech, has been steadily growing in importance, alongside the emerging FinTech industry. The ever-growing number of regulatory updates around the world, set at 56,300 in 2017, require accurate, money-saving, and time-efficient solutions to avoid hefty fines for regulatory non-compliance. Will AI and Big Data, by driving accuracy and easing workloads, accelerate RegTech’s rise to global prominence? Let’s hope so! Also we need to bear in mind that GDPR and requirements regarding secure AI must be observed.