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The U.S. RegTech market is expected to grow at a CAGR of 21.54% during 2022-2028 due to increasing fraud and money laundering activities. Artificial Intelligence (AI) is becoming popular and is witnessing increasing use across multiple fields due to generating significant amounts of data daily. AI technology is providing new opportunities and advantages with the potential for enormous economic and societal impact. Cybersecurity and consumer data privacy are key challenges in the regulatory technology ecosystem.