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Sun Life Financial Inc
Symbol SLF
Shares Issued 579,764,157
Close 2024-07-04 C$ 67.49
Market Cap C$ 39,128,282,956
Recent Sedar Documents

Globe says Sun Life a surprise early adopter of AI

2024-07-05 07:58 ET - In the News

The Globe and Mail reports in its Friday edition that a wave of companies are rushing to integrate artificial intelligence into their operations. A Canadian Press dispatch to The Globe says that Amazon Web Services' global vice-president of AI products, Matt Wood, has observed that AI's fastest adopters are businesses that are normally slow to change. The speedy adopters span regulated industries such as health care, life sciences, financial services, insurance and manufacturing. Mr. Wood said recently, referencing Sun Life Financial, "If you'd have told me a year and a half ago that 160-year-old life insurance companies were going to be in the vanguard of artificial intelligence usage, I probably would have been a bit surprised, but that's turning out to be the case." His observation turns age-old assumptions about innovation and who is open to embracing technology upside down. It comes as nearly every sector is grappling with advances in AI and considering how the technology can increase productivity and profitability. Mr. Wood has recently seen life insurance companies turn to AI to review 90-year-old policies and identity risks they could pose over the next decade or so when they are likely to be paid out.

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