As of July 11, 2019, the transitionary period is over, and enforcement of the Mutual Recognition Agreement (MRA) struck between the United States and the European Union is underway. designed to supply consumers with clear, coherent labeling on food products.
From April 1, 2014 to March 31, 2015 the Consumers Affairs Agency (CAA) made a concerted effort to publicly discuss proposed changes to the Japanese Food Labeling Standard, as well revise its regulatory language to provide greater clarity to those in the industry. The changes were primarily designed to supply consumers with clear, coherent labeling on food products.
The creators of RegASK saw the emergence of RegTech as an opportunity in the consumer product goods industry. The founders of RegASK spent 20 years working as regulatory consultants for multinational companies. They realized the same technology that is working for the finance industry can reduce the arduous, manual labor involved in regulatory research for FMCG.
RegASK is a tech company that uses natural language processing to answer regulatory questions, including inquiries about path-to-market, path-to-claim, product registration and regulatory strategy
Current artificial intelligence implementations, such as smart bots, or assistive secretaries make use of deep learning: a computing method that leverages Artificial Neural Networks (ANN). ANNs are grounded on the same principles in which a brain receives, sorts and processes information, allowing these networks to evolve and learn – just as a brain does.