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Why It Matters Now Tighter Regulations : States are increasing audits and enforcing strict compliance. Built-In Compliance & Identity Verification : KYC and AML processes ensure funds go to the right person, without manual delays. Compliance on Autopilot : Dormancy rules, alerts, and reporting are built-in—no spreadsheets required.
In fact, Gartners 2024 AI report advises organizations that want to use generative AI on private data to prioritize RAG investments. SaaS platforms can leverage this for features like analytics explanations ( Explain this dashboard pulling yesterdays data) or compliance checks with current regulations. in its answers.
There’s ways to create certain lines around this, but update them for 2024 and beyond, that is the difference and I think it helps ultimately really protect customers and consumers, which should all be in our interests. And the blockchain is actually a terrible mechanism for illicit activity because it’s traceable.
Staleness and compliance — language models must be up-to-date, compliant with regulations, and able to be revised on the fly without having to retrain the entire thing every time. 2023 was the Year of the Demo, and 2024 is the year of production deployments of AI in Enterprise. The big issue for Enterprises : cost-quality tradeoffs.
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