Regulation refers to a set of rules, guidelines, or laws put in place by a governing body to control behavior in a given sector. Regulations are crafted to achieve a specific objective such as the defense of public interests, the maintenance of fair competition, or the advancement of safety standards, security, and moral engagements. Regulations come in all shapes and sizes — ranging from industry norms to codes of conduct, prerequisites, holding licenses, or AI policies. The process of oversight and control, sometimes in the form of inspections, audits, and legal sanctions in cases of violation, is consulted with key stakeholders to ensure their robustness and efficiency.
