Dr. Kris Shrishak:

We need to remember despite the fact 15 regulators have been set up it is quite likely there will be gaps in sectors where we may not have an existing regulator. A potential example I can think of is in the insurance sector where there is credit scoring. If credit scoring is done in the banking sector, my understanding is it will fall within the remit of the Central Bank because it already regulates that sector. It is unclear to me, however, where credit scoring in the insurance will easily fall and which regulator will be responsible for it. That is just one example. Plenty of other examples will probably come up and in these scenarios, it is the AI office that will have to step in because if the public have complaints and do not know which regulator to go to, the AI office will become a central co-ordinator taking responsibility to triage which regulator is responsible or for itself to be the regulator. It remains to be seen how that is formulated in the national Bill.