- Open Data Institute (ODI) appointed by RegulAItion Ltd to collaborate on its breakthrough AIR Platform
- ODI to lead on data ethics and market research to maximise the platform’s growth and scale potential
- Led by RegTech scale-up RegulAItion and supported by UK Research and Innovation (UKRI)
- AIR Platform to deliver platform-as-a-service to knowledge-map the world’s regulated data
- AIR platform combines state-of-the art blockchain, privacy enhancing and federated learning technologies
- £1.67 million project partnered by major academic institutions plus collaborators from banking, finance, insurance, legal and accountancy businesses
Tuesday 13th October 2020: Data platform company RegulAItion has announced the appointment of the Open Data Institute (ODI) as a key partner in the development of its breakthrough AIR Platform. The partnership will see the ODI implementing an extensive research, testing and data ethics programme as the platform deepens its privacy-by-design approach.
Announced in July 2020, RegulAItion’s AIR Platform combines state-of-the art blockchain, privacy enhancing and federated learning technologies to enable automated, scalable, repeatable, and responsible data-access and collaboration for regulated industries and beyond.
Exponential hidden value exists for organisations who can unlock, understand, and extract knowledge from their own data and the secure data of others, including commercially sensitive data. This is one of the key reasons the ODI has joined forces with RegulAItion and its wider group of business collaborators.
RegulAItion’s CEO, Sally Sfeir Tait commented “Our vision is clear: Intelligence Unlocked. We are building a platform-as-a-service to knowledge-map the world’s regulated data. The AIR platform combines state of the art blockchain and federated learning technologies to solve the fundamental and crippling issues of data access, privacy and collaboration for business. It is essential for us to work with an external third party who looks at the wider interests of the data ecosystem and acts as a critical friend. The Open Data Institute is our partner of choice.”
Stuart Coleman, Business Development Director for the Open Data Institute explains, “For decades, regulated sectors like banking and law have struggled to innovate because of data security concerns that have left them relying on legacy systems. The AIR Platform from RegulAItion offers the potential to innovate more easily with the reassurance of safer data access and preserved privacy.
“The Open Data Institute is delighted to be providing research and strategic advice to RegulAItion. We’re excited to be looking into the business appetite for their platform across SME and MNC (Multinational Corporations) markets, giving us an opportunity to further explore the ethics of accessing, using and sharing data in regulated industries.”
Backed by Government funding from UK Research and Innovation (UKRI) and private investment totalling £1.67 million, the AIR Platform is being developed in conjunction with project collaborators including the Financial Conduct Authority (FCA), two international banks, Ashurst, Oasis Loss Modelling Framework, Wilson Wright Accounting and Tax Practice, University College London (UCL) and Loughborough University.
RegulAItion is a data platform company developing the tools and technology infrastructure for scalable, automated, repeatable and responsible AI-driven data-access and business intelligence for regulators and the regulated industries. RegulAItion, a UCL incubated company, founded in 2018, designs and develops responsible artificial intelligence, tools and blockchain technologies to enable government, business and consumer digital interconnection.
In 2021 RegulAItion will lead a cross-sector consortium to deliver a first of its kind, AI-driven data access platform for regulated industries – the AIR Platform. Borne out of a need to address industry challenges, the AIR platform will deliver a ‘generational breakthrough’ to how the private and public sectors operate and interact with each other and it is set to prove instrumental in tackling financial fraud.
About the ODI
The ODI works with companies and governments to build an open, trustworthy data ecosystem, where people can make better decisions using data and manage its harmful impacts. An independent, non-profit, non-partisan company, co-founded in 2012 by the inventor of the web Sir Tim Berners-Lee and Artificial Intelligence expert Sir Nigel Shadbolt.
Headquartered in London, with an international reach, hundreds of members, thousands of people trained, and dozens of start-ups incubated, the ODI invites everyone interested in working with data – whether on an individual, organisational or global level – to get in touch.
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