Source: Fintech Global
AI has long been touted as the future for many industries, and the recent explosion of GenAI platform ChatGPT may have revealed that that future is now here.
A key area ripe for disruption and innovation is that of regulation and compliance. As a market, it has long been seen to involve cumbersome and slow processes that impact both efficiency and the bottom line. A key question many in the RegTech industry have been asking is: will AI take over regulation and compliance in the future?
“In terms of whether we can expect AI to take over regulation and compliance, the answer is no,” said Susannah Hammond, senior regulatory intelligence expert at Theta Lake. That said, while she believes it is unlikely to be a takeover, she said it is likely AI-enabled solutions will increasingly be used as a tool to enhance the next strategic iteration of regulation and compliance…
Read full article: https://fintech.global/2023/06/28/will-ai-take-over-regulation-and-compliance-in-the-future/
