We're proud to announce that we've been granted research funding for an exciting innovation project, using artificial intelligence to further develop our vendor and compliance solutions.
What makes the project unique is the way we develop the product. Instead of using AI as a support tool, the technology is an active part of the development process. By combining research, experimentation and innovation, we aim to develop the most dynamic solution in the industry, designed to evolve with technology and customer needs.
Contracts have long been static documents that are written, signed and archived – but what if the contract could come to life? What if it could continuously update itself, alert you to deviations and ensure regulatory compliance, without you having to search through the appendices? This is the core of the research project.
Through the project, we are researching how artificial intelligence can support both people and systems in making decisions faster and with greater precision. We are therefore working to transform the contract from a passive archival document to an active data source that manages finances, risk and compliance. The development work takes place within a clear framework for quality and security, and in accordance with the EU Artificial Intelligence Act.
Hallvard Olaisen, Chief Technology Officer (CTO) at House of Control, explains the development work as follows:
- We have a culture that encourages testing, learning, and improvement, and that's what drives our success. For us, innovation is about creating 'living' solutions that provide real and long-term value for our customers, he says and continues:
- We use AI to increase speed, quality and learning, but never to replace understanding, responsibility or control. Artificial intelligence should support people, not replace them.
Through the research work, we are looking at three key questions:
Support from Norway’s R&D funding program makes it possible to explore how AI can be used safely and purposefully to drive business and technological value.
Olaisen elaborates:
- Government funding gives us the opportunity to explore how AI can be integrated into complex systems without compromising security or compliance. It helps us create solutions that are both robust and sustainable over time.
For our customers, our work is about trusting that the information on which they base their decisions is always correct and up-to-date.
By combining research and practical experience, we develop solutions that deliver:
Our goal is to use technology to create security, efficiency and better decisions for our customers, ourselves and the entire industry.
- We may not know exactly where the AI journey will lead, but we know it will transform how we work. Our ambition is to use technology to create intelligent solutions that ensure flexibility, quality and seamless integration, says Olaisen.