Adsure Services has issued an encouraging update on its proprietary artificial intelligence tool, ‘TIAA Insight’, designed to deliver efficiencies across its operating subsidiary, TIAA Ltd.
The internal audit and business assurance firm is developing an AI tool that will first augment their internal processes before the company potentially explores licensing the software.
In 2023, Adsure Services received an Innovate UK grant to research and develop an artificial intelligence large language model targeted at improving the efficiency with which they carry out work for government-funded organisations.
The model is being developed using only TIAA data to provide the optimal outcome for the company’s audit operatives. Specialist and internally built closed-source large language models (LLMs) are becoming increasingly popular because they ensure the privacy of the data used to train them.
TIAA Insight is trained on vast data sets collated by Adsure Services’ operating subsidiary, TIAA Ltd, as opposed to the open internet, which is typical of models such as ChatGPT.
Privacy and securitty is of the utmost importance for Adsure Services given the nature of the work they carry out for their government-funded organisation clients, such as emergency services, education institutions and housing associations.
While the company hasn’t provided any specific details on the processes TIAA Insight will be deployed to carry out, it has alluded to early success with the tool entering a testing stage.
“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.
“We are committed to being the provider of choice to the UK public sector, and this evolution in our technological capabilities will strengthen our ability to achieve this ambition.”
The successful deployment of the tool will likely translate into improved margins, although the company has yet to provide any guidance on this.
A licensed software product could open up very attractive revenue streams.
Adsure Services’ revenues grew 19% to over £5m in the first half of their financial year.