Manulife Empowers Workforce with GenAI, Achieving 75% Engagement Rate

Unleashing the Power of AI at Manulife

In a groundbreaking move, Manulife has rolled out its GenAI capabilities across its entire workforce, resulting in an impressive 75% engagement rate. This initiative positions the company at the forefront of artificial intelligence integration within the financial services industry. By embedding AI tools throughout its operations, Manulife is not only enhancing productivity but is also empowering its employees to leverage technology in their daily tasks.

According to Jodie Wallis, Manulife's Global Chief Analytics Officer, the integration of AI is transformative. She believes it not only creates efficiencies but also enriches interactions among employees. "By equipping our teams with GenAI tools, we're enabling them to work smarter, move faster, and make a bigger impact," Wallis stated. This holistic approach to AI underscores the company's commitment to making artificial intelligence a core component of its operational strategy.

Investment in AI and Workforce Engagement

Over the past decade, Manulife has made significant investments in developing AI tools, ensuring they are accessible to all employees. The introduction of ChatMFC, a proprietary AI assistant, exemplifies this commitment, automating routine tasks to allow staff to focus on more strategic endeavors. This push for democratization of AI solutions illustrates Manulife's vision for a collaborative, data-driven workplace.

Currently, Manulife has deployed over 35 GenAI applications globally, with plans to roll out an additional 70 use cases by the end of 2025. Employees have contributed to this innovation process, submitting more than 400 potential GenAI solutions. This collaborative approach not only spurs creativity but also ensures that the tools developed meet the real needs of the workforce.

Improving Customer Experience and Relationships

AI's implementation at Manulife extends beyond internal optimization; it also significantly enhances customer interactions. With GenAI-powered tools supporting around 110 million customer calls annually, the company has improved response times, ensuring agents provide accurate and timely information. The use of an AI-enabled translation tool promotes global access, breaking down language barriers and enhancing service delivery.

Furthermore, as Karen Leggett, Manulife's Global Chief Marketing Officer, highlights, embedding AI creates new revenue opportunities while strengthening client relationships. Initiatives such as personalized insights for advisors have already seen success in markets like Singapore and are now expanding globally.

Future Roadmap for AI at Manulife

Looking ahead, Manulife's roadmap for AI in 2025 is ambitious, focusing on both the enhancement of AI-driven insights and the personalization of services for customers and advisors. The company’s relentless pursuit of scaling responsible AI exemplifies its commitment not just to technological advancement but also to ethical considerations in deploying these innovations. Manulife's Responsible AI Principles are designed to ensure that AI solutions are developed with a firm adherence to safety and sustainability standards.

Amid the ongoing digital transformation, Manulife expects that its AI initiatives will yield a threefold return on investment by 2027, with substantial financial benefits projected from these digital strategies. By empowering every employee with AI capabilities, Manulife is not only fostering a culture of innovation but is also solidifying its status as a leader in AI adoption within the financial services sector.

For more details about Manulife's AI advancements, visit their official website.