Manulife is anticipating a significant return on its artificial intelligence (AI) investments, projecting a threefold return on investment (ROI) by 2027, with benefits exceeding $600 million. This ambitious goal comes as the company continues to expand its digitalisation efforts.
In a recent announcement, Manulife revealed that more than 75% of its global workforce is now actively using generative AI (GenAI) technologies. Employees are engaging with tools, training programs, and immersive experiences, including ChatMFC, the company’s proprietary GenAI assistant, launched in 2024.
“Manulife expects our digital capabilities, including AI-powered advancements, to yield substantial returns—estimated at three times the investment over the next five years through 2027,” the company stated in a press release. It highlighted that, in 2024 alone, the company realised over $600 million in benefits from its ongoing digital transformation initiatives.
Manulife has been steadily investing in AI technologies for almost a decade, embedding AI solutions into daily operations across various teams, business units, and regions.
“By equipping our teams with GenAI tools, we’re empowering them to work more efficiently, act swiftly, and drive greater impact,” said Jodie Wallis, Global Chief Analytics Officer at Manulife.
As part of its ongoing digital transformation, Manulife has committed to a multi-billion-dollar investment in AI and cloud-based data platforms. The company has already implemented 35 GenAI use cases across its operations in Canada, the US, and Asia, with plans to introduce an additional 70 use cases by the end of 2025.
Manulife’s AI workforce includes nearly 200 data scientists and machine learning engineers, embedded across the organisation to ensure AI is leveraged effectively across business functions.
The company is also expanding its AI applications beyond ChatMFC. Its AI-powered translation tool now supports real-time translations in nine languages, further enhancing global communication. Additionally, the company’s Sales Enablement Tool, launched in Singapore, is set to expand worldwide. This tool provides personalised insights to advisors, improving decision-making processes.
In North America, Manulife’s GenAI-powered solutions manage over 110 million customer calls annually, with plans to extend the service across its Asian markets.
Related topics
