Technology

First software solution for internal audit documentation launched

Ottawa: Earlier this week, Lemay.ai announced the launch of its internal audit-focused spinoff company, AuditMap.ai. Based on the consulting firm’s ongoing research and development in natural language understanding, AuditMap.ai’s first software solution reads and organizes internal audit documentation while extracting key risk and control statements to alleviate the work of internal auditors.

“We’re excited to address this under-served opportunity in the internal audit field,” says Daniel Shapiro, PhD, co-founder and CTO of Lemay.ai. “Our latest research in (natural language processing) specifically addresses these particular sentence classification problems.”

The eponymously named AuditMap tool is designed to use multiple parallel artificial intelligence (AI) models to reduce biases, increase focus on documented risks and contextualize them within the available internal audit documentation.

The new organization will own the specific intellectual property developed by its founders. Lemay.ai will retain ownership and consulting capabilities in all related fields.

Representatives of the newly formed company have also confirmed news that Stallion.ai, a Dubai-based consultancy, has already expressed its desire to become the authorized reseller of the technology for MENA (Middle East and North Africa) region.

About Lemay.ai

Lemay.ai is a Canadian AI consultancy specializing in the rapid deployment of artificial intelligence. They work at both the strategic and implementation levels of data science, machine learning, and deployment.

About Stallion.ai

Stallion.ai is a Dubai-based AI firm working with clients in the banking, energy, and security industries to help implement innovative technologies and strategies across the MENA region.

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