Marsh McLennan Develops New Generative AI Tool
Marsh McLennan [NYSE:MMC] and its business Oliver Wyman, a global leader in management consulting, announced today the launch of a new Generative AI tool for colleagues. The tool, called LenAI, 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.”
Key features of the tool include:
- 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.
-
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 strict standards for data security and to address and mitigate the risks associated with this new technology, including the following:
- Minimal data retention
- Required training for users on appropriate usage and the risks posed by the use of AI
- Managing what data the tool is allowed to access, in alignment with legal considerations
- Assessing the tool against the growing body of frameworks and regulations that apply to the use of Generative AI
- A growing range of capabilities – 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.
- Enhanced productivity – These features allow colleagues to be more productive and have greater impact in their client work. Early adopters at Oliver Wyman self-reported saving an average of eight hours per week when using the tool. Additionally, they reported spending 20% less time on simple, repetitive tasks and reallocating that time toward more complex tasks.
LenAI is a just one example of how Marsh McLennan and Oliver Wyman are harnessing the immense power of AI to empower both colleagues and clients. With an extensive network of AI collaborators, Oliver Wyman 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.
Moreover, Oliver Wyman has helped clients be at the forefront of enhancing the customer experience through cutting-edge AI technologies, while also providing invaluable support for partnership and acquisition decisions in this rapidly evolving field. Notably, Oliver Wyman has developed bespoke tools, including project management platforms, customer personalization engines, and social listening analytics suites, all designed and deployed to meet the highest enterprise safety standards. By embracing responsible AI practices, Oliver Wyman continues to drive innovation and deliver transformative results for its clients.
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.
For more information about LenAI and Marsh McLennan businesses’ AI insights and capabilities, please visit This Moment on marshmclennan.com.
About Marsh McLennan
Marsh McLennan (NYSE: MMC) is the world’s leading professional services firm in the areas of risk, strategy and people. The Company’s more than 85,000 colleagues advise clients in 130 countries. With annual revenue of over $20 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses. Marsh provides data-driven risk advisory services and insurance solutions to commercial and consumer clients. Guy Carpenter develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities. Mercer delivers advice and technology-driven solutions that help organizations redefine the world of work, reshape retirement and investment outcomes, and unlock health and wellbeing for a changing workforce. Oliver Wyman serves as a critical strategic, economic and brand advisor to private sector and governmental clients. For more information, visit marshmclennan.com and follow us on LinkedIn and X.
About Oliver Wyman
Oliver Wyman is a global leader in management consulting. With offices in more than 70 cities across 30 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. The firm has more than 7,000 professionals around the world who work with clients to optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a business of Marsh McLennan [NYSE: MMC].
View source version on businesswire.com: https://www.businesswire.com/news/home/20231121695121/en/
Latest directors dealings
- 11 hours ago Abenójar Tungsten, S.A
- 12 hours ago SpaceandPeople
- 13 hours ago Schroder Income Growth Fund
- 13 hours ago Trainline
- 13 hours ago Coca-Cola Europacific Partners (DI)