The Clash of Regulation and Innovation: Getting AI to Comply Series by Matthew Van Buskirk

The Mismatch: Why Regulation & Innovation Clash

One of my co-founders, Jo Ann Barefoot, has a slide she often uses in presentations. It features side by side pictures of politician Barney Frank and Steve Jobs. “If you gave both of these people the same task,” she’ll observe, “they would go about it in completely different ways.”

Regulators and the industries they oversee approach the same challenges from different perspectives. This divergence is particularly clear in moments of rapid technological change. This divergence is also particularly important to understand in these times.

AI has arrived, and its rapid adoption into business processes has again brought the spotlight on these differences. In my career, I’ve been very fortunate to have spent time in both camps, and, using this experience, I’d like to share observations to help firms—especially those in highly regulated industries—understand the perspective of those on the other side of the divide.

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Regtech can help stop human trafficking by Matthew Van Buskirk

It costs approximately $7,000 to buy a human being in the United States. Unfortunately, the tools we use to detect movement of money related to crime produce so much noise that transactions that small will rarely make their way to law enforcement. We have an opportunity to fix this using new technology - see the article I co-wrote with Jo Ann Barefoot in Bank Think.