Manulife Financial Corp. has launched a proprietary AI platform across its global operations. The platform will standardize how the company develops, deploys, and manages AI solutions, helping business units and markets reuse successful applications while following responsible AI principles.
Manulife is targeting $1 billion in cumulative enterprise value from AI by 2027. The company expects to reach $300 million of that target by the end of 2025.
Manulife expects the value to come from lower run-rate expenses, increased revenue from AI-powered workflows, reduced fraud, and absorbing business growth without proportional cost increases.