Artificial Intelligence (AI) is a broad term that covers a number of different technologies that aim to solve a variety of challenges to making computers behave like humans.
Our market research leading into MVP revealed that our target audience required detailed, accurate, traceable, fast compliance audit results. Our initial R&D was based on a pure Artificial Intelligence/Machine Learning based solution to assess regulatory compliance of documents, however the quality of the outcomes were less than expected. In particular the pure AI/ML solutions did not offer: exact clarity on outcomes (usually defaulting to “% confidence” scores instead), was often slower, and produced misleading, untraceable outcomes under certain conditions.
This led to the prototyping and then development of a rules-based expert system which has provided TIQK with a fast and accurate solution with traceable audit outcomes. TIQK is an expert auditing system designed for rapid, accurate compliance risk analysis of unstructured, plain English Statements of Advice and other documents in future.
It uses a variety of technologies and methodologies including natural language analysis but is not a pure “A.I.” system. This was a conscious design decision based on extensive in-house R&D and client needs analysis. Future functionality may, however, include A.I. technologies where they provide usable outcomes for our clients.
It would be better to think of TIQK as a platform that combines a variety of novel algorithms and approaches all designed to solve the problem of providing compliance leaders with detailed, traceable, accurate, and actionable results with minimal effort from our clients.
Underneath the superficially simple end-user features is a unique and sophisticated legal analysis framework that includes a proprietary encoding of Australian legislation, regulations, and regulatory guides for machine analysis. The platform’s underlying algorithms and methodologies have been assessed by TIQK’s IP lawyers with the result that two (2) are currently the subject of patent applications.