London, UK – 6th June 2019: Waymark Tech has successfully secured further grant funding from the Small Business Research Initiative (SBRI, part of Innovate UK).
Working in collaboration with the Better Regulation Executive and funded by the GovTech Catalyst, Waymark Tech is developing an innovative technological solution to promote understanding of existing regulation and to provide insightful analysis that will inform and improve the way in which new regulations are introduced in the future. Building on Waymark’s proven AI technical capability, the project will develop state of the art Natural Language Processing (NLP) technology which will systematically ingest information from thousands of pages of regulation and produce enhanced analytics on the content.
Individual regulations will be analysed to provide meaningful insight on the impact to business, enabling the introduction of smarter regulation in the future and providing policy writers with a valuable tool to assist them with the process of introducing new or updated regulation. Downstream impacts will be streamlined, easing the compliance burden on businesses.
The solution will automate large parts of information analysis currently conducted manually by policy writers as well as providing entirely new insight currently too complex for policy writes to uncover without technological assistance.
About Waymark Tech
Waymark Tech is a London based Reg-Tech and Sup-Tech firm. We develop and provide software services using advance AI and NLP for companies in highly regulated industries and advisory firms with clients facing complex regulatory demands, as well as public sector organisations involved in defining and monitoring regulations. For more information visit: https://waymark.tech
Waymark Tech has also secured SBRI grant funding in April 2019 working with Citizens Advice Scotland