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By Paul Addicott Evans, Managing Director of Products at ComplianceOne Group
In the high-stakes iGaming world, regulatory compliance is more than just a checkbox. It is the foundation upon which industry integrity and customer confidence are built. The emergence of Artificial Intelligence, especially Large Language Models like ChatGPT promises to revolutionize the way we approach regulatory processes. With great power, comes great responsibility. The integration of AI into compliance raises important questions about its verifiability, accuracy, and reliability.
The Data Verification Dilemma
ChatGPT is at the heart of this AI-driven revolution in iGaming Compliance. It’s a marvellous piece of technology, powered by a sophisticated Large Language Model. ChatGPT has opened up the world to AI’s possibilities, but also raised a question that is now widely adopted: Can we really trust it?
Its impressive capabilities are not without a challenge: verifying its accuracy and currentness. In many fields, including the constantly changing regulatory environment in iGaming and other industries, relying solely on AI tools that lack verifiable sources of data could result in non-compliance or legal challenges as well as financial penalties.
The dynamic nature of iGaming laws, which vary widely across jurisdictions and undergo frequent updates, exacerbates this dilemma. Non-compliance is costly. It’s important to ensure that AI tools are informed and aligned by the latest legal standards. It is therefore essential to have a framework that allows AI tools to be continuously updated with verified regulatory data and their outputs regularly audited.
The science part…
How can we solve this problem? It is almost like a commodity to have large language models available. Everyone can use the technology. When faced with a problem of such importance as reliability and verifyability, it is necessary to integrate supporting technologies into AI-framework. vector embedded can be used to bridge the gap between raw data, and AI’s understanding and verification of it.
Imagine vector embeddings to be a vast library of words, phrases and concepts. Each has its own unique location. This library is generated by a neural net, a form of AI that reads and understands large amounts of text. It then organizes the information into a map.
The words or phrases are placed in a way that they are adjacent to each other.
This library is invaluable for iGaming Compliance. AI can use vector embeddings to better understand words and their context. This is essential for verifying complex, vast regulatory information.
Vector embeddings enable AI to understand and verify information in a similar way as an expert human, but at a speed and accuracy only machines can provide. This increases the reliability of AI for iGaming Compliance, ensuring operators receive accurate and current information that is crucial to staying within regulatory limits.
AI and iGaming Compliance
When used correctly, the use of AI for iGaming Compliance can offer a range of benefits:
- Improved Precision and Efficiency : The ability of AI to quickly and accurately synthesize information about regulatory requirements ensures operators are always up-to-date with the latest compliance regulations. AI tools can analyse changes in anti-money laundering laws from different jurisdictions within minutes. This task would take humans much longer.
- Customized Regulatory insights:AI offers bespoke guidance that adapts to the unique geographical and operational nuances of every iGaming provider. AI can offer tailored advice based on the games or markets that operators are targeting, while taking into account the regulatory landscape in each area.
- Automated compliance oversight: Continuous AI monitoring of iGaming operation ensures adherence to regulatory standard, proactively identifying non-compliance and rectifying it. This could include monitoring in real-time player interactions to ensure that responsible gaming is maintained.
Looking ahead
While the journey to integrate AI into iGaming Compliance is not without its challenges, there are also many rewards. We can reinvent the way the iGaming sector navigates the regulatory maze by integrating AI with the principles of data verification and source transparency. This is not only a technological shift, but also a shift in trust and reliability.
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Introducing IntelligentOne AI
Complitech is at the forefront of the exciting frontier that OneAI represents. This groundbreaking AI product, developed as part of Complitech’s database of global regulatory requirements, is set to redefine iGaming Compliance. OneAI is distinguished by its ability to provide accurate, current data that does not contain the ‘hallucinations” of LLMs. This allows it to respond quickly and accurately to regulatory inquiries.
Consider the example of an assessment by a Games studio of the impact on slot games of the German regulations, especially in relation to the maximum bet and the required delay between spins.
The studio uses OneAI to ask a question about the slot regulations in Germany. The AI tool processes the request quickly and provides a detailed breakdown of current German slot game regulations. The tool highlights that the maximum wager per spin is EUR1 and there is a minimum of 5 seconds interval between spins. These information are directly linked to relevant sections of German Interstate Treaty on Gambling. This ensures accuracy and verifiability.
This insight allows the studios to make informed decisions regarding game design and offering in the German market. They can ensure compliance, while optimizing the product for the new regulatory environments.
OneAI allows iGaming firms to access instant and reliable answers for technical compliance questions. This streamlines decision-making. This innovative tool is a major leap forward in the use of AI for iGaming Compliance, combining the linguistic proficiency of LLMs and the robust, up-to-date Complitech database. This innovative tool marks a new era in iGaming regulations, as technology is used to improve the accuracy and trustworthiness of compliance processes. OneAI, a tool that uses AI to enhance compliance and safety in the iGaming industry, is set to be a key player as AI evolves.
