Manulife Partners with Adaptive ML to Enhance AI Operations with Reinforcement Learning Technology

Manulife Partners with Adaptive ML to Optimize Enterprise AI

In a bold move to advance its artificial intelligence capabilities, Manulife has partnered with Adaptive ML, a New York-based company specializing in reinforcement learning technology. This collaboration aims to fine-tune Manulife's enterprise AI platform, ensuring real-time optimization of its AI models.

Adaptive ML's proprietary technology is designed to continually evolve and enhance AI models by incorporating new data and user feedback. This approach not only improves the accuracy of AI solutions but also enhances efficiency over time. The partnership is part of Manulife's broader strategy to integrate AI deeply into its operations, ultimately striving for an AI-powered organization that provides exceptional value and enhances customer experiences.

Jodie Wallis, Manulife's Global Chief AI Officer, highlighted the significance of this collaboration by stating, "Our progress with Adaptive ML positions us to deliver innovative solutions that enhance both speed and accuracy. While we will use large language models for various applications, our targeted approach with specialized language models will deliver significant benefits in terms of precision and cost-efficiency."

Manulife has been actively investing in AI since 2016, and the ongoing partnership with Adaptive ML reinforces the organization's commitment to sustainable and responsible AI use, aligning with its publicly shared Responsible AI Principles. By optimizing the usage of model fine-tuning technology and small language models, the company aims to reduce energy consumption while maintaining high performance levels.

The initial applications for this advanced AI technology include automating underwriting processes, executing complex business operations, and supporting sales professionals, significantly improving the speed and efficiency of these functions. Julien Launay, CEO of Adaptive ML, praised Manulife's proactive stance in adopting enterprise AI, asserting, "Manulife is setting a standard for how regulated industries can scale AI effectively. By utilizing Adaptive Engine, they are ensuring reliability while achieving cost efficiencies across their operations."

Furthermore, Manulife's commitment to integrating AI reaches nearly every aspect of its business operations. Shamus Weiland, the Chief Information Officer, remarked, "We are excited to leverage Adaptive ML's capabilities, which will facilitate faster processes and reduce friction for our customers. Our goal is to equip our teams with innovative tools that drive reliability and value responsibly."

This partnership has positioned Manulife as a leader in the AI space, recently earning recognition as the top life insurance company for AI maturity in the inaugural Evident AI Index for Insurance. With a workforce of over 37,000 employees and a customer base exceeding 36 million, Manulife continues to demonstrate a pioneering approach to leveraging AI in the financial sector.

As the company looks to the future, its collaboration with Adaptive ML stands as a testament to its dedication to innovation and its proactive approach to meeting the evolving needs of its customers through advanced technology.

For more information about Manulife's AI initiatives, visit AI @ Manulife.