Compliance Updates
Navigating New Frontiers: AI’s Role in Reinventing iGaming Compliance
By Paul Addicott-Evans, Managing Director for Products at ComplianceOne Group
In high-stakes world of iGaming, regulatory compliance is not just a box to be checked – it is the bedrock upon which the industry’s integrity and customer trust are built. As we navigate this complex landscape, the emergence of Artificial Intelligence (AI), especially through Large Language Models (LLMs) like ChatGPT, promises a revolution in how we approach regulatory processes. Yet, with great power comes great responsibility, and the integration of AI in compliance raises crucial questions about the verifiability and accuracy of its data inputs.
The Data Verification Dilemma
At the core of this AI-driven transformation in iGaming compliance is ChatGPT, a marvel of modern technology powered by a sophisticated Large Language Model. ChatGPT opened the world’s eyes to the possibilities of AI, whilst simultaneously creating a major question with wide-spread adoption: Can we trust it?
Despite its impressive capabilities, a fundamental challenge persists: verifying the accuracy and currency of the information it provides. In many walks of life, not least the ever-changing regulatory environment of iGaming, relying on AI tools without verifiable data sources could lead to non-compliance, legal challenges, and potentially financial penalties.
This dilemma is intensified by the dynamic nature of iGaming regulations, which can vary significantly across jurisdictions and are subject to frequent updates. Non-compliance can be extremely costly, so ensuring that AI tools are not only informed by but also aligned with the latest legal standards is paramount. This calls for a robust framework where AI tools are continuously fed with up-to-date and verified regulatory data, and their outputs are regularly audited for accuracy and compliance.
The science bit…
How do we approach this problem? The availability of large language models is now almost a commodity. The technology is available for everyone to use. However, when faced with such an important problem as reliability and verifiability, there is a need to weave supporting technologies into the AI-framework. This is where vector embeddings come into play, acting as a bridge between raw data and the AI’s ability to understand and verify it.
Imagine vector embeddings as a vast library, not of books, but of words, phrases, and concepts, each with its own unique location. This library is created by a neural network, a type of AI, which reads and understands vast amounts of text, then organizes this information into a map.
Each word or phrase is placed precisely, so that words with similar meanings are neighbours.
For iGaming compliance, this library becomes invaluable. When AI uses vector embeddings, it’s like consulting this map to understand not just words, but the context and meaning behind them. This is crucial for verifying vast, complex regulatory information.
In essence, vector embeddings allow AI to comprehend and verify information much like an expert human would, but with the speed and accuracy that only a machine can offer. This boosts the reliability of AI in iGaming compliance, ensuring that the operators get accurate and up-to-date information, crucial for staying within regulatory boundaries.
AI’s Edge in iGaming Compliance
The use of AI in iGaming compliance, when done correctly, can offers a suite of advantages:
- Enhanced Precision and Efficiency: AI’s ability to swiftly and accurately synthesize regulatory information ensures that operators are always in step with the latest compliance requirements. For instance, an AI tool could analyse recent amendments to anti-money laundering laws across different jurisdictions within minutes, a task that would take humans significantly longer.
- Customized Regulatory Insights: AI can offer bespoke guidance, adapting to the unique operational and geographical nuances of each iGaming operator. An example of this is how AI tools can provide tailored advice to operators based on specific games offered or markets targeted, considering the unique regulatory landscape of each area.
- Automated Compliance Oversight: Continuous AI surveillance of iGaming operations guarantees adherence to regulatory standards, proactively identifying and rectifying instances of non-compliance. This could include real-time monitoring of player interactions to ensure responsible gaming practices are maintained.
Looking Ahead
The journey of integrating AI into iGaming compliance is fraught with challenges, yet the potential rewards are substantial. By anchoring AI in the principles of data verifiability and source transparency, we can redefine how the iGaming industry navigates its regulatory maze – a shift not just in technology but in establishing a new era of trust and reliability.
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Introducing IntelligentOne AI
At Complitech, we stand at the forefront of this exciting frontier with OneAI. Developed as part of the comprehensive Complitech database of global regulations, this groundbreaking AI product is poised to redefine iGaming compliance. OneAI distinguishes itself by providing current, accurate data, free from the common ‘hallucinations’ of LLMs, thereby offering responses to regulatory inquiries that are not just swift, but also dependable and verifiable.
Take the example of a Games studio assessing the impact of Germany’s regulations on slot games, particularly concerning the maximum bet limit and the mandatory delay between spins.
Using OneAI, the studio inputs a query about slot regulations in Germany. The AI tool quickly processes this request, providing a detailed analysis of the current German regulations on slot games. It highlights that the maximum bet per spin is capped at €1 and that there is a required minimum interval of 5 seconds between spins. This information is directly linked to the relevant sections of the German Interstate Treaty on Gambling, ensuring accuracy and verifiability.
This targeted insight allows the studio to make informed decisions about game design and offerings in the German market, ensuring compliance while optimizing their product for the new regulatory environment.
With OneAI, iGaming companies can access instant, reliable insights for complex technical compliance questions, streamlining decision-making processes. This innovative tool represents a significant leap in the application of AI in iGaming compliance, marrying the linguistic dexterity of LLMs with the robust, updated Complitech database. It heralds a new chapter in iGaming regulation, where technology not only expedites but also elevates the trustworthiness and accuracy of compliance processes. As AI continues to evolve, tools like OneAI are set to play a pivotal role in fostering a safer, more compliant, and trustworthy iGaming ecosystem.
New Tool Turns Vixio’s Regulatory Intelligence Into Auditable, Actionable Steps
Vixio, a leading provider of regulatory intelligence solutions, is excited to announce the launch of Vixio Workspace, a new regulatory management tool designed by compliance professionals, for compliance professionals. Vixio Workspace introduces a new intuitive workflow capability into Vixio’s regulatory intelligence platform, helping to transform Vixio’s world-class regulatory intelligence into actionable steps.
Compliance teams currently face multiple challenges when managing actions from regulatory change. Hours are spent juggling multiple disparate systems, from spreadsheets to emails and project management tools. This can cause errors and team misalignment between already siloed departments, meaning teams may miss actions or critical regulatory updates.
The average compliance professional spends 70% of their time, and in some sectors up to 95% of their time, on reactionary administrative tasks rather than strategic guidance. Furthermore, with 85% of compliance leaders reporting that compliance requirements have become more complex in the past three years, and 77% reporting that compliance complexity has negatively affected company growth drivers, now, more than ever, compliance teams need a solution to bring calm to the chaos of compliance complexity.
Vixio Workspace aims to address the challenges faced by compliance teams by fusing regulatory intelligence and workflow capability together, which means teams will never miss action items from critical regulatory updates.
“After two decades of providing comprehensive regulatory intelligence, we’re excited to add to Vixio’s core offering by turning that intelligence into action,” Mike Woolfrey, CEO of Vixio, said, “We’ve spent hours listening to our customers’ compliance challenges and designed Vixio Workspace so that users can see global regulatory updates, track their progress to implementation, and document everything for easier attestation, rather than using siloed systems that can slow that process down. With Vixio Workspace, complexity in compliance doesn’t have to mean complicated.”
Vixio Workspace’s streamlined platform combines regulatory intelligence with task management, eliminating the need for cumbersome copy/paste processes and tracking with spreadsheets. Furthermore, unlike other compliance SaaS software, Vixio Workspace doesn’t require any IT integration, allowing instantaneous adoption.
This new feature is available now and enhances Vixio’s existing RegTech platform, which provides essential regulatory intelligence to navigate the complex regulatory landscape.
Key features of Vixio Workspace include:
- World-class regulatory intelligence: Regulatory intelligence with unparalleled precision – precision is achieved through AI capability and a global team of expert regulatory analysts
- Checklists: Use checklists, integrated with precision-driven regulatory intelligence, as a single source of truth to action and track compliance initiatives
- Real-time dashboard: A single panoramic view of everything in one place, and real-time status of tasks and projects
- Task management: Create and allocate tasks in seconds with the ability to manage compliance team priorities
- Real-time data: This can be used for risk/compliance committees and meetings
- Attestation: A single repository to capture attestation across the business for multiple compliance use cases
- Chat function: Speeds up communication within compliance teams and the wider business
- User management: Role-based user management and permissions for security and audibility
- Audit trail: A digital audit trail which tracks discussions between collaborators and minimises the need for confusing email trails
- Easy file uploads: Use for evidence submission and Vixio Workspace as a single repository for supporting documents
Vixio will host an official launch event for Vixio Workspace at The Haymarket Hotel in London on April 29th at 3 PM, where attendees will be among the first to see the tool in action.
Today’s launch underscores Vixio’s commitment to collaborating with clients to implement innovative solutions that address pressing compliance challenges.
The post Vixio Launches Vixio Workspace: A Transformative Regulatory Management Tool appeared first on European Gaming Industry News.
The Association of Gaming Operators in Kenya (AGOK) in partnership with government agencies, regulators and civil society are spearheading a set of proactive initiatives designed to shape the future of the gaming industry and protect innocent Kenyans from addiction to gaming.
In a press release, the Association says nationwide awareness campaigns promoting informed, mindful participation in gaming will be carried out across the country.
Advocacy for tools such as time-out mechanisms, betting and deposit limits will be put in place to ensure a healthy and controlled gaming behaviour among Kenyans.
“The gaming industry in Kenya continues to evolve rapidly, creating opportunities for economic growth, digital innovation, and employment. However, with this growth comes a heightened responsibility to safeguard the welfare of players, particularly young people and vulnerable populations,” the statement by AGOK’s board reads in part.
“AGOK acknowledges the complex challenges associated with gaming, particularly around mental health, addiction prevention, and ethical standards. These are global concerns which members of AGOK take seriously. They are at the forefront of our agenda.”
The Association furthers contends that all its members operate under a “shared code of conduct” rooted in principles of fairness, transparency and social responsibility.
Among meaningful steps it says it has taken to prevent exploitation and minimise harm include putting into place advanced age-verification systems to block underage access, self exclusion tools that provide options for and permanent restrictions to gaming activities and round-the clock toll free helplines that offer confidential mental health and addiction support.
The regulatory measures comes amid calls to regulate the sector following increase in cases of mental health and some suicide cases attributed to betting.
The post Association of Gaming Operators in Kenya Announces New Regulations appeared first on European Gaming Industry News.
Sumsub announced that its Liveness solution has successfully passed iBeta Quality Assurance testing in line with the ISO/IEC 30107-3 standard. The evaluation, conducted on both Android and iOS platforms, confirms the solution’s compliance with Level 2 of the Biometric Presentation Attack Detection (PAD) Standard—the solution showed zero mistakes during testing, validating Sumsub’s technology as capable of resisting sophisticated spoofing attempts.
Sumsub’s Liveness solution is designed to detect deepfakes and prevent biometric fraud using advanced in-house AI models. With deepfakes growing 4x year-over-year and now accounting for 7% of all fraud cases, according to the company’s 2024 Identity Fraud Report, robust anti-spoofing technology is critical for safeguarding businesses and users alike. By integrating AI-driven detection tools, Sumsub helps organizations stay ahead of emerging threats and maintain trust throughout the user verification process.
“iBeta Level 2 testing reflects our commitment to trust, quality, and staying ahead of fraud trends. The industry is facing a rise in attack sophistication and scale, and it’s essential that our solutions continue meeting the highest standards. Routine third-party testing like this ensures we’re prepared for these evolving threats,” Vyacheslav Zholudev, CTO and co-founder of Sumsub, said.
The post Sumsub Maintains Compliance with iBeta Standards appeared first on European Gaming Industry News.
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