RegulAItion partners Open Data Institute for collaboration platform

RegulAItion has appointed the Open Data Institute (ODI) as partner in the development of its 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, the AIR Platform combines blockchain, privacy enhancing and federated learning technologies to enable automated, scalable and responsible data-access and collaboration for regulated industries and beyond.

RegulAItion chief executive Sally Sfeir Tait commented: “We are building a platform-as-a-service to knowledge-map the world’s regulated data - 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 - and the ODI is our partner of choice.”

Stuart Coleman, business development director for the ODI, explained: “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 ODI will provide research and strategic advice to RegulAItion, assessing the business appetite for the platform across businesses small and large across a variety of markets.

Backed by funding from UK Research and Innovation and private investment totalling £1.67 million, the AIR Platform is being developed in conjunction with project collaborators including the Financial Conduct Authority, two international banks, Ashurst, Oasis Loss Modelling Framework, Wilson Wright Accounting and Tax Practice, University College London and Loughborough University.

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