<s>[INST] What is GDPR and how will it impact compliance with privacy regulations? [/INST] GDPR is a set of laws enacted by the European Union in order to protect the privacy of its citizens. These laws carry penalties for companies that are not complaint with privacy regulations.</s>\ <s>[INST] Could you elaborate what kind of penalties there are and what are the names of the privacy regulations and what do they do? [/INST] 