RegAsk streamlines regulatory compliance for CPG companies via AI
Analyzing authoritative sources, including official government publications, updates from regulatory authorities, industry-specific news and extensive legal databases, RegAsk’s AI “alerts companies, offering them a crucial head start in adapting to new requirements,” Shleifer explained. The company's food and beverage clients range from small and medium companies to large corporations, including A2Milk and Ajinomoto, with pricing based on size and specific needs.
Shleifer noted several industry trends including a growing demand for sustainable packaging, clean-label ingredients and supply chain transparency, highlighting the growing demand for compliance in these areas.
“RegAsk is instrumental in helping our clients navigate and comply with these trends, ensuring they stay aligned with consumer preferences and industry shifts,” she said.
Combining natural language processing, machine learning and generative AI techniques, RegAsk technology identifies, interprets, contextualizes and predicts relevant regulatory information, she said.
“By harnessing the capabilities of generative AI, we are able to provide insights that are not just reactive to current changes, but also proactive in anticipating future regulatory trends. This integration of generative AI ensures that RegAsk clients are consistently at the forefront, navigating the compliance landscape with unmatched foresight and precision,” Shleifer elaborated.
Limitations to any AI-powered platform include the quality of data sources and subsequently its database. Shleifer said these considerations are addressed through continuously fine-tuning RegAsk’s algorithm, double-checking information and addressing user feedback “to make sure our platform is accurate and effective.”
She noted that RegAsk’s platform creates a more efficient process to the otherwise time consuming, manual regulatory tracking and analysis methods via spreadsheets that can prevent companies from quickly adapting to regulatory changes while preventing potential penalties and operational disruptions.
“This provides companies with a crucial agility in a rapidly evolving regulatory environment, allowing swift adjustments to strategies and production formulations. This accuracy minimizes the risk of overlooking critical compliance requirements, reducing the likelihood of non-compliance,” she said.
Once relevant regulatory changes to the food and beverage industry are identified by RegAsk’s AI algorithm, users are notified in real-time via the platform. Shleifer explained that the platform is simple to use, “ensuring that those without extensive technical backgrounds can effectively utilize the system.”
While the company relies on pristine data quality to feed its AI, data accuracy is also reliant on a network of global regulatory experts who offer support and consultancy services. RegAsk's team of seasonal regulatory professionals, who have worked with agencies in 140 countries, effectively created a network of 300 global regulatory experts who offer practical solutions.
“This includes connecting clients with local experts for precise regulatory insights, regularly reassessing strategies for new markets and product categories, de-risking category expansion, conducting opportunity market analysis and offering support in market assessment and route-to-market planning,” Shleifer added.
*Editor's Note: In a previous version of this article, one of RegAsk's clients was incorrectly identified as NuFace.
