Manulife's Lab of Forward Thinking (LOFT) is collaborating with Nervana Systems to develop an artificial intelligence and deep learning tool that analyzes and deciphers natural language.
Using its new processing engine, Manulife’s LOFT can analyze online information, financial news, emails and documents portfolio managers receive to present recommendations that could help investment advisors make faster, smarter investment decisions, according to the company.
"This partnership with Nervana accelerates our development efforts and our understanding of this new technology," said Greg Framke, executive vice president and chief information officer of Manulife, in a statement. "Deep learning and artificial intelligence technologies have the potential to enhance research efforts in virtually all areas of the company."
Manulife, the owner of John Hancock in the U.S., has established three Labs of Forward Thinking around the world in Boston, Toronto and Singapore. The insurer’s Toronto LOFT will be leading this project. In Boston, the John Hancock LOFT recently began exploring blockchain technology with two partnerships.
(This article appears courtesy of our sister publication, Insurance Networking News)
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