RegTech in the Government?

Hi all, starting a post on the newly created Knowledge Exchange on AFERM to get things started.

My first post is about the emergence of RegTech, or Regulatory Technology within financial services.

What is RegTech? It is essentially the use of advanced data analytics and AI to manage operational risk and regulatory compliance. Click the link to learn more about RegTech. https://www.compliance.ai/regtech?utm_source=Paid-Search&utm_medium=google-ads&utm_campaign=Compliance-KW&gclid=Cj0KCQjwwLKFBhDPARIsAPzPi-JWDA6MK1SQyQIRUFcQfbQvH_-QxHTiqh2qy2YiuGq9CgYYhAtB61UaAmhIEALw_wcB

Till date, most if not all, RegTech solutions are only available for the financial services industry. Which is not surprising, however, do we see this kind of technology being applied to other industry sectors, and especially the government sector in the not too distant future? With increasing regulatory obligations, compliance already places a heavy burden on government agencies. A number of agencies are investing significantly with Robotic Process Automation (RPA) to leverage technology for automating control testing tasks that are repetitive and non-judgmental in nature. How soon do we think federal agencies would start making further investments in AI for more wholesome compliance management?

Would love to hear everyone’s inputs. Thanks!