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LONDON - Adsure Services PLC announced progress on its AI-powered internal audit tool "TIAA Insight," developed through a Knowledge Transfer Partnership grant with the University of Essex. The project, which received funding from Innovate UK in December 2023, has completed its first year of development.
According to the company’s press release, TIAA Insight uses a Large Language Model (LLM) trained on historic customer data to analyze risks identified by human auditors and recommend mitigation actions. The system has been designed to minimize hardware requirements while maintaining performance.
A project evaluation panel will conduct blind testing comparing human recommendations with those generated by the AI system. Success will be determined by the model achieving confidence levels above 95% in outperforming human outcomes.
"Through our ongoing investment in market leading technology, Adsure will be able to drive efficiencies within its core service lines and add greater value to our customers," said Kevin Limn, CEO of Adsure Services.
The company plans to initially deploy TIAA Insight to enhance internal risk assessment processes before potentially offering it as a licensed software product to the wider industry.
As part of the grant requirements, Adsure expects to publish the first of two research papers detailing the academic application of AI in internal audit and risk assurance in the second half of 2025.
Adsure Services PLC is the holding company for TIAA Limited and provides audit and assurance services primarily to the UK public sector.
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