Over the past decade, regulatory requirements have surged–particularly for organizations operating in the tech industry. New regulations, like the European Union Artificial Intelligence Act (EU AI Act), the United Kingdom Online Safety Act (OSA), the European Union Digital Services Act (DSA), the Health Insurance Portability and Accountability Act (HIPAA), and the General Data Protection Regulation (GDPR), have intensified regulatory compliance requirements. The fines and penalties for not complying with these regulatory requirements can cripple small and medium-sized enterprises (SMEs). Fortunately, the use and evolution of AI systems, such as Large Language Models (LLMs), can help companies that lack the budget needed to keep their policies and procedures compliant. Tech leaders and compliance officers should understand how they can leverage AI, specifically LLMs, to enhance their regulatory compliance practices.
Benefits of LLMs for Regulatory Compliance
The continuous development of LLMs today has broadened their application …