The Government Actuary’s Department (GAD) has said it is working on the development of a large language model (LLM) to perform quality assurance checks on pension administrator calculations.
The agency, which provides services such as financial risk analysis for the public sector, said it is working with an as yet unnamed AI partner on the project.
They are fine tuning an LLM to read and interpret the relevant regulations and write code that can perform the quality assurance checks.
Actuary Chris Daniels, head of the analytical solutions team at GAD, said: “This partnership will enable us to enhance our AI skills so that we can help our clients solve complex problems in an efficient manner.”
GAD said the project will add to its data expertise. It has already carried out a number of initiatives including the creating of interactive dashboards to help inform strategic and investment decisions, and devising a modeller to support clients as they work towards equalising pensions for their members.
