Manulife has introduced an enterprise AI platform it developed internally to enable teams to create, launch, and manage AI-based solutions uniformly around the world. The platform brings a common basis for developing AI, enabling teams to leverage approved solutions, speed up implementations, and keep security, risk, and governance practices consistent across markets. Based on Manulife, its enterprise AI programs have created $1 billion in shared business value cumulatively through cost savings, higher revenue from AI-supported business processes, lower costs of combating fraud, and greater operational efficiency, by 2027. It claims $300 million of shared AI value cumulatively by the end of 2025. Its pilots include a Singaporean Sales Agent that supports teams by quickly providing relevant information on prospective clients and preparing them for conversations, an Intelligent Document Processing solution that automates the extraction of data from numerous documents, and an US Quick Quote that helps teams speed up an initial life insurance application assessment.
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“We have already demonstrated that AI can deliver meaningful impact across Manulife, from improving experiences for customers, agents, and colleagues to driving measurable business value,” said Phil Witherington, President and CEO, Manulife. “The platform positions us to move beyond individual solutions to a shared enterprise capability that encourages and enables teams around the world to innovate, collaborate, and scale AI responsibly. This is a critical next step toward our strategic priority to become a truly AI-powered organization.”