Marsh McLennan launches AI tool
Marsh McLennan and its management consulting business Oliver Wyman have launched a new generative artificial intelligence (AI) tool for colleagues, called LenAI.
The tool was developed by Marsh McLennan’s Dublin Innovation Center in collaboration with Oliver Wyman Digital and is available to Marsh McLennan’s more than 85,000 colleagues worldwide.
“We have some of the brightest minds in business working across our four businesses and a collaborative culture,” said Paul Beswick, senior vice president and global chief information officer, Marsh McLennan. “When it came time to introduce the tool, we were able to deploy it quickly and securely. Since its full launch recently, LenAI has been a game changer for our teams, enabling them to work smarter for the benefit of our clients.”
“We know AI has the potential to help our clients increase their productivity, transform complex and expensive processes, and do other things that were out of practical reach until now,” added Vivek Sen, partner, head of digital, Oliver Wyman, Americas. “We’ve always been at the forefront of helping our clients leverage the latest technologies even within highly regulated industries, and AI is no different.”
LenAi was built on technologies from Microsoft and OpenAI – Marsh McLennan and Oliver Wyman were able to work directly with Microsoft to deploy a private internally-hosted version of OpenAI’s foundational models, which keeps all the data in-house.
It was also designed with regulatory requirements in mind – the tool was developed in close partnership with Marsh McLennan’s privacy, compliance, risk management, information security, and legal teams to ensure it meets Marsh McLennan’s standards for data security and to address and mitigate the risks associated with this new technology.
According to the company LenAI extends the capabilities of the underlying AI models by adding tools that provide more accurate and valuable outputs. These tools include the ability to search the internet, work on a wide range of documents, perform accurate calculations, access information from high quality publications, and more.
Oliver Wyman said that it has spearheaded numerous AI engagements, delivering exceptional value to clients across a wide range of industries. These engagements cover a wide spectrum of applications, ranging from leveraging AI to boost productivity and efficiency, to navigating the intricacies and risks associated with deploying AI solutions safely.
Marsh McLennan’s four businesses are working closely with clients on a myriad of challenges related to AI’s adoption. Its Marsh business is helping clients identify, mitigate, and transfer the risks of generative AI, while Mercer is consulting with clients on how to navigate the impact of generative AI in the world of work. Guy Carpenter works with insurers to help communities and businesses enjoy the benefits of AI while also managing the growing pains associated with these technologies.