Bermudian entrepreneur Stuart Lacey has just launched his thirteenth company, Labrynth.

The new enterprise helps corporations navigate the quagmire of regional regulation using artificial intelligence.

“Every company has to get regulatory approval to operate,” Mr Lacey said. “Many companies die on the vine trying to bring new products to market.”

Labrynth has its first client and is in talks with two others, only days after starting, and already has revenue flowing in.

Mr Lacey said he loves solving “big, thorny problems”.

“I love what AI can do,” he said. “It is a perfect fit for this problem, because we are dealing with large, complex documentary sets that can be analysed, simplified down to the core requirements and then automated in steps.”

He said in California alone, there are more than 20 million pages of regulations. Many corporations want to operate across city, state and country borders, meaning even more rules to navigate.

Labrynth brings together AI solutions and human networks.

“We can now bring our clients not just technology, but an adviser network which adds advice, credibility and reputational arbitrage,” he said. “That not only improves the filing but helps to accelerate it.”

Mr Lacey said the big differentiator is that they are not a law firm or consultancy, which means it is in their best interest to get things done quickly.

“We deliver and we take a percentage of the upside that we generate with our client,” he said.

How much they can speed up the process depends on the client and the situation.

“The answer to that would be data driven, but I would like to think that we are somewhere between 15 and 25 per cent,” he said. “I would like to think that in some areas it is going to be even bigger.”

One of his earlier companies, Trunomi, used technology to help businesses improve visibility and understanding of customer data, consent and permissions, and prove compliance under Europe and the United Kingdom’s Global Data Privacy Regulations.

“We were a regulatory technology firm heavily funded out of Silicon Valley,” he said. “I know a lot about that space, and we built a consent framework that met the requirements of GDPR.”

Running Trunomi, Mr Lacey found that meeting GDPR gave them portability in other countries, because it was such a high standard to meet.

That meant meeting regulatory requirements got easier for a company as it expanded from one region to another.

“When they move to that next market, that model will interface better,” he said. “Each additional requirement will get cheaper and easier than the first.”

Labrynth has partnered with Invisible, one of the largest AI language model trainers in the world, having worked with tech giants such as Nvidia, Google and Meta.

Being an AI-native start-up is an advantage for Labrynth, Mr Lacey said.

“We expect we can scale to a very large amount of revenue with a very small team, because we are built with AI tools,” he said.

He described Labrynth as an American company running remotely from Bermuda, but is hopeful that as he builds out Labrynth’s systems, Bermuda will be able to use them also.

“Our ultimate client is going to be governments and regulators,” he said. “We will have a global best practices model for technologies coming to market. Our clients could become Singapore, Dubai or Bermuda.”

As a serial entrepreneur, Mr Lacey has learnt that you need passion, purpose and discipline to succeed.

“If you are passionate, it will be easier to put in the discipline you need,” he said. “It is a lot of work to build a company. I typically align most of what I do to some purpose I care about. I want what I do to have an impact.”