Compliance Updates
Vixio Releases 2024 Artificial Intelligence Outlook
Based on Vixio analysis of recent regulatory events and market data, this report provides high-level intelligence on the global regulatory changes affecting AI
Vixio, a leading provider of regulatory intelligence solutions, has released the 2024 Artificial Intelligence (AI) Outlook report, covering global trends in AI regulation and adoption in the payments and gambling industries.
AI regulatory developments have popped up across the globe in the last year, with Western Europe leading the way with the most updates. According to the Vixio AI Outlook report, the UK and EU have released over 40 updates in AI regulation since 2023.
Specific jurisdictions that have taken notable steps to regulate the use of AI include Canada, the EU, Hong Kong, Spain, and the UK. Several jurisdictions have regulatory developments in progress, including Argentina, Australia, Brazil, Chile, Colombia, France, Luxembourg, Malta, South Africa and Uruguay. In contrast, other jurisdictions, such as the US, have released guidance and best practices.
“Right now, regulators are in a nascent stage surrounding AI regulation. However, as businesses increasingly explore the adoption of AI, regulators will follow suit,” explains John Gidla, Head of PaymentsCompliance at Vixio. “But, at this stage, governments and regulators are watching the development of AI and looking to better understand potential opportunities and threats, and trying to balance the fine line between consumer protection and innovation.”
In the payments industry, regulators are observing how AI is being used by payments and banking institutions. The full report includes case studies of AI implementation in FinTechs like Revolut, Mastercard, Visa and more. Some of the opportunities surrounding AI in the payments industry include:
- allowing quicker fraud detection by analysing transaction patterns to detect unusual behavior in real time
- predicting future behavior, allowing for highly target marketing campaigns
- detecting cyber threats and weaknesses that could lead to a cyberattack
In the gambling industry, the top use cases of AI for regulators is reducing workload in areas such as annual audits of licenses. For gambling operators and suppliers, top use cases include:
- improving personalization by analysing a player’s history
- identifying risky behaviours, allowing operators to encourage responsible gambling
- automating early intervention messages to customers exhibiting potentially harmful behaviour
This report is part of Vixio’s Outlook series, which provides subscribers with forward-looking insights and consolidated research on key segments of the global gambling and payments industries. This edition is designed to provide high-level intelligence and forecasts surrounding the use, development and regulatory changes affecting artificial intelligence (AI), with a focus on the payments and gambling markets.
The post Vixio Releases 2024 Artificial Intelligence Outlook appeared first on European Gaming Industry News.
The International Association of Gaming Regulators (IAGR) has announced the appointment of four new trustees to its Board, each bringing unique expertise and leadership to strengthen IAGR’s global regulatory efforts:
- Anders Dorph, Danish Gambling Authority (Europe)
- Peter Kesitilwe Emolemo, Gambling Authority of Botswana (Africa)
- Kevin Mullally, General Commercial Gaming Regulatory Authority (Asia/Oceania)
- Louis Rogacki, New Jersey Division of Gaming Enforcement (North America)
IAGR President Ben Haden said, ‘I’m delighted to welcome our four new trustees to the IAGR Board. Their diverse expertise and leadership across different jurisdictions will bring fresh perspectives to our work, further strengthening our global approach to gaming regulation.
‘I look forward to collaborating with Peter, Louis, Kevin and Anders as we continue to foster innovation and drive forward effective, responsible regulation for the benefit of the global gaming community.
‘We also extend a big thank you to Trude Høgseth Felde and Mabutho Zwane for their dedicated service as they complete their terms on the Board, and I’m pleased to announce that Jason Lane will continue for another term as a Trustee.’
As a leading forum for gaming regulators worldwide, IAGR enables members to meet, share information, discuss legislative developments, exchange views and learn best practices in gaming regulation.
In recent news, IAGR has also confirmed that its 2025 annual conference will be held in Toronto, Canada, from 20 to 23 October 2025, with registrations opening in early 2025.
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Internet Vikings, a licensed in-state hosting provider for iGaming and online sports betting, announces their partnership with Alpha Innovations, a provider of data center services. Under the agreement Internet Vikings will supply Alpha Innovations with VMware licensing through its VMware White Label solution.
Alpha Innovations, known for being a leading Managed Services Provider including cloud computing, data storage, and backup, has chosen to partner with Internet Vikings, a member of the Broadcom Premier Partnership program. This membership highlights Internet Vikings’ capabilities in supporting large-scale and highly regulated environments.
Internet Vikings will provide Alpha Innovations with the essential VMware license, an asset for their cloud offerings. This addition enhances Alpha Innovations’ capability to set up and maintain regulated and compliant cloud environments while upholding their high standards.
“The added value of our licensing solutions and support services aligns perfectly with Alpha Innovations’ needs,” said Rickard Vikström, CEO and Founder at Internet Vikings.
Douglas Tate, CEO at Alpha Innovations added, “As a leading Managed Service Provider (MSP), Alpha Innovations is always looking for ways to improve our service offerings. Our partnership with Internet Vikings is a win-win for our clients. By leveraging Internet Vikings’ VMware licensing solutions, we can offer our clients more flexible, scalable, and secure cloud solutions. This will ultimately help our clients achieve their business goals more efficiently and effectively.”
Both companies are committed to maintaining a transparent and mutually beneficial relationship, demonstrating how data centers and hosting providers can collaborate to meet the licensing needs of the industry.
The Malta Gaming Authority (MGA) has awarded its first-ever ESG (Environmental, Social and Governance) Code Approval Seals to licensees in the online gaming sector, marking a milestone in the Authority’s commitment to promoting responsible and sustainable industry practices.
This initiative follows the launch of the voluntary ESG Code of Good Practice last year, which invited licensees to submit their ESG disclosure returns. The Code, which covers 19 topics categorised under Environmental, Social and Governance pillars, offers a strategic roadmap for online gaming companies to streamline their reporting efforts.
Following the first annual reporting cycle, 14 gaming operators have been awarded the ESG Code Approval Seal. The Code supports two levels of reporting: Tier 1, which establishes foundational ESG standards, and Tier 2, which represents a more aspirational approach.
Seals are valid for one year, with flexibility for renewal in the subsequent reporting period, allowing operators to advance or adapt their reporting tier year by year.
“We believe this initiative will significantly enhance the industry’s reputation and sustainability credentials,” MGA CEO Charles Mizzi said.
“By integrating ESG considerations into their operations, gaming companies not only contribute to the wellbeing of society and the environment but also strengthen the trust and confidence that consumers, investors, and regulators have in the industry. This initiative sends a clear message: sustainability, in the broadest sense of the word, is integral to the future of the gaming sector.”
The post MGA Issues First ESG Code Approval Seals to Licensees appeared first on European Gaming Industry News.
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