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Manulife Partners with Adaptive ML to Elevate Enterprise AI

In a significant move aimed at advancing its artificial intelligence (AI) initiatives, Manulife has announced a partnership with Adaptive ML. This collaboration is centered around the integration of Adaptive ML's advanced model fine-tuning technology into Manulife’s enterprise AI platform, heralding a new era of innovation and efficiency.

Located in New York, Adaptive ML specializes in providing reinforcement learning technologies that optimize small language models and enhance their application in enterprise settings. The partnership is expected to enable Manulife to refine its AI capabilities in real time, ensuring that the solutions offered to clients are not only accurate but also aligned with evolving business goals.

Jodie Wallis, Global Chief AI Officer at Manulife, emphasized that this partnership will allow the company to deliver groundbreaking solutions that significantly improve speed and accuracy. "In addition to leveraging large language models (LLMs) for various applications, we plan to implement specialized language models tailored to specific tasks to increase our operational efficiency while also reducing costs," Wallis noted. This targeted application of AI technology aims to provide Manulife with a competitive edge in the increasingly crowded AI market.

The collaboration with Adaptive ML isn't just about enhancing performance; it also aligns with Manulife's commitment to responsible AI practices. By employing a robust model fine-tuning mechanism alongside small language models, the organization aims to lower energy consumption without compromising on performance, adhering to its sustainability objectives and Responsible AI Principles.

The implications of this partnership go beyond mere operational enhancements. Manulife’s multi-year agreement with Adaptive ML will facilitate the exploration of various use cases, including automated underwriting quotes and the execution of complex business processes. These initial implementations are set to pave the way for scaling operations and enhancing service delivery speed.

"Manulife's innovative endeavor serves as a blueprint for regulated industries looking to adopt AI solutions effectively," said Julien Launay, CEO of Adaptive ML. He further commented on the foresight exhibited by Manulife, which is strategically transitioning from generic AI solutions to building specialized models that suit its unique operational environment. This approach ensures greater reliability and cost efficiencies in its AI deployments across the globe.

Moreover, with nearly every aspect of its operations now influenced by AI, Manulife is positioning itself at the forefront of this technological shift. Shamus Weiland, Chief Information Officer at Manulife, remarked, "Leveraging Adaptive ML's capabilities will enable us to streamline processes, enhance customer interactions, and equip our teams with innovative tools that drive value and efficiency."

The partnership comes at a pivotal time as Manulife has recently been recognized as the #1 life insurance company for AI maturity in the Evident AI Index for Insurance. This accolade serves to reinforce the organization's ongoing commitment to innovation and customer-centric solutions, marking a significant milestone since it began investing in AI capabilities in 2016.

As Manulife continues to push the boundaries of what's possible with AI, this collaboration with Adaptive ML signals a promising future for not just the company but also the financial services industry at large. With ongoing advancements in the capabilities of AI technologies, Manulife is set to unlock new potentials that will ultimately lead to better experiences for its customers.

To delve deeper into Manulife's AI journey, interested parties can explore AI @ Manulife for a comprehensive overview of their initiatives and progress.