Marsh McLennan and its business Oliver Wyman, a global leader in management consulting, announced the launch of a new Generative AI tool for colleagues. The tool, called LenAI, was developed by Marsh McLennan’s Dublin Innovation Center in collaboration with Oliver Wyman Digital and is available to Marsh McLennan’s more than 85,000 colleagues worldwide.
“We have some of the brightest minds in business working across our four businesses and a collaborative culture,” said Paul Beswick, Senior Vice President and Global Chief Information Officer, Marsh McLennan. “When it came time to introduce the tool, we were able to deploy it quickly and securely. Since its full launch recently, LenAI has been a game changer for our teams, enabling them to work smarter for the benefit of our clients.”
“We know AI has the potential to help our clients increase their productivity, transform complex and expensive processes, and do other things that were out of practical reach until now,” added Vivek Sen, Partner, Head of Digital, Oliver Wyman, Americas. “We’ve always been at the forefront of helping our clients leverage the latest technologies even within highly regulated industries, and AI is no different.”
Key features of the tool include:
- Built on technologies from Microsoft and OpenAI – Marsh McLennan and Oliver Wyman were able to work directly with Microsoft to deploy a private internally-hosted version of OpenAI’s foundational models, which keeps all the data in-house.
- Designed with regulatory requirements in mind – The tool was developed in close partnership with Marsh McLennan’s privacy, compliance, risk management, information security, and legal teams to ensure it meets Marsh McLennan’s strict standards for data security and to address and mitigate the risks associated with this new technology, including the following:
- Minimal data retention
- Required training for users on appropriate usage and the risks posed by the use of AI
- Managing what data the tool is allowed to access, in alignment with legal considerations
- Assessing the tool against the growing body of frameworks and regulations that apply to the use of Generative AI
- A growing range of capabilities – LenAI extends the capabilities of the underlying AI models by adding tools that provide more accurate and valuable outputs. These tools include the ability to search the internet, work on a wide range of documents, perform accurate calculations, access information from high quality publications, and more.
- Enhanced productivity – These features allow colleagues to be more productive and have greater impact in their client work. Early adopters at Oliver Wyman self-reported saving an average of eight hours per week when using the tool. Additionally, they reported spending 20% less time on simple, repetitive tasks and reallocating that time toward more complex tasks.
LenAI is a just one example of how Marsh McLennan and Oliver Wyman are harnessing the immense power of AI to empower both colleagues and clients. With an extensive network of AI collaborators, Oliver Wyman has spearheaded numerous AI engagements, delivering exceptional value to clients across a wide range of industries. These engagements cover a wide spectrum of applications, ranging from leveraging AI to boost productivity and efficiency, to navigating the intricacies and risks associated with deploying AI solutions safely.
SOURCE: Businesswire