Regulatory technology
Okay kiddo, so regulatory technology is when companies use computers and fancy software to help them follow rules and laws. Just like how you listen to your parents when they tell you not to do things like hit your friends or take someone else's toys, companies have rules they have to follow too.
Now, there are a lot of rules for companies to follow, and sometimes it can get confusing. That’s where regulatory technology comes in! Computers can help companies keep track of all the rules they have to follow. They can also help companies figure out what they need to do to follow the rules.
For example, let’s say a company sells toys and there is a rule that says they can’t sell toys that are dangerous for kids. The company can use a fancy computer program to check all the toys they sell and make sure they’re safe. That way, they won't sell any toys that could hurt you.
Overall, regulatory technology is like having a really smart friend who's really good at keeping track of all the rules companies have to follow. It helps them make sure they don't do anything wrong and keeps everyone safe.
Now, there are a lot of rules for companies to follow, and sometimes it can get confusing. That’s where regulatory technology comes in! Computers can help companies keep track of all the rules they have to follow. They can also help companies figure out what they need to do to follow the rules.
For example, let’s say a company sells toys and there is a rule that says they can’t sell toys that are dangerous for kids. The company can use a fancy computer program to check all the toys they sell and make sure they’re safe. That way, they won't sell any toys that could hurt you.
Overall, regulatory technology is like having a really smart friend who's really good at keeping track of all the rules companies have to follow. It helps them make sure they don't do anything wrong and keeps everyone safe.