Manulife has announced a significant milestone in its digital transformation journey, with 75% of its global workforce now actively engaged with GenAI-powered solutions. This development is part of a broader multi-billion-dollar investment in digital capabilities, including the introduction of ChatMFC, a proprietary GenAI assistant that saves employees up to two hours weekly. The company expects these advancements to generate a threefold return on investment by 2027.
The AI integration spans various business functions, such as sales enablement tools developed in Singapore, which are now being rolled out globally to provide personalised insights for financial consultants. Additionally, AI-powered contact centres are enhancing customer interaction efficiency across Asia and North America, supporting 110 million interactions annually.
Jodie Wallis, Global Chief Analytics Officer at Manulife, highlighted the transformative impact of AI, stating, “By equipping our teams with GenAI tools, we’re enabling them to work smarter, move faster, and make a bigger impact.” The company has already realised over S$600m in benefits in 2024 from its digital initiatives.
Manulife’s commitment to responsible AI is underscored by its adherence to ethical and sustainability standards, ensuring innovations align with these principles. The company’s AI strategy includes deploying over 35 GenAI use cases across Canada, the US, and Asia, with plans to expand to 70 more by the end of 2025.
As Manulife continues to embed AI across its operations, it aims to deepen customer relationships, improve adviser connections, and unlock new revenue streams, reinforcing its position as a leader in AI adoption within the financial services sector.
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