India Breaking Buzz

Sun Life invests heavily in future technologies like GenAI to enhance customer satisfaction

<p>In the financial services domain, Generative Artificial Intelligence (GenAI) presents a significant opportunity, and Sun Life, a prominent global player with assets under management (AUM) totaling $1.3 trillion, is actively involved in the development of such tools. Laura Money, the Chief Information and Technology Innovation Officer of the company, emphasized the dual benefits for both clients and employees in deploying these advanced technologies.</p>
<p><img decoding=”async” class=”alignnone wp-image-382483″ src=”” alt=” sun life invests heavily in future technologies like genai to enhance customer sat” width=”847″ height=”635″ title=”Sun Life invests heavily in future technologies like GenAI to enhance customer satisfaction 15″ srcset=” 400w,×113.png 150w” sizes=”(max-width: 847px) 100vw, 847px” /></p>
<p>Sun Life, a Canada-based life insurer and asset manager, manages nearly one-third of India’s GDP. It is actively exploring GenAI tools to enhance efficiency in asset management. In India, Sun Life has left its mark through the Global Capability Centre – Sun Life Global Solutions (SLGS) and its joint ventures with the Aditya Birla Group, namely Aditya Birla Sun Life Insurance and Aditya Birla Sun Life Mutual Fund.</p>
<p>Laura Money highlighted Sun Life’s engagement in various GenAI projects, emphasizing the importance of balancing innovation with risk management measures to ensure a safe exploration of AI-led initiatives. While adhering to existing policies and procedures, the company maintains human involvement in the loop, actively training and validating the outputs of GenAI within its internal environment.</p>
<p>Providing examples of GenAI-driven innovations, Laura mentioned the recent launch of an internal chatbot to enhance productivity, a pilot program for faster and more accurate coding by developers, and exploring the role of GenAI in delivering prompt services in call centers.</p>
<p>Acknowledging the contribution of SLGS, the innovation and knowledge services hub in India and the Philippines, Laura and Tarun Sareen, MD of SLGS, emphasized the center’s role in driving GenAI-led innovation projects. Sareen highlighted SLGS’s collaboration with external ecosystem players, including accelerators, incubators, startups, and academia, for co-creation and incubation opportunities.</p>
<p>Tarun Sareen highlighted the center’s commitment to fostering a culture of innovation, conducting year-round innovation activities, and demystifying next-gen technologies like Generative AI, AI/ML, Computer Vision, Audio Analytics, etc. The focus on rapid prototyping aligns with Sun Life’s dedication to utilizing emerging technologies, such as Gen AI, to positively impact health outcomes and fulfill its purpose of providing lifetime financial security while helping clients live healthier lives.</p>

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