While ChatGPT is helping benefits communications become more efficient, detailed and reliable, the risks may outweigh the rewards when it comes to full automation, says Tom Milne, a principal at Normandin Beaudry. The possibilities for generative artificial intelligence in the benefits space are infinite, he says, noting the algorithms are helping expedite the research and […]
Artificial intelligence offers the promise of “a big structural change that will play out over a long period of time,” according to Kieran Moore, a partner and portfolio manager at Munro Partners, noting the growth opportunities associated with AI lie in the enablers of structural changes that can improve productivity and workflows. For investors like […]
Artificial intelligence tools like ChatGPT are becoming critical in helping human resources leaders balance the necessary administration in recruitment processes, says Andrea Bartlett, vice-president of people at HR consultancy Humi. “What’s exciting to me is AI [is] another tool in the HR professionals’ tool belt that can enable them to offset the administrative tasks to […]
Large and small, pension plan sponsors are adopting in-house tools, partnering with technology research institutes or relying on investment managers for technological support with asset allocation, risk management and other aspects of investment management. The growing interest coincides with an increasingly complex investment, demographic and regulatory landscape. A 2020 Deloitte report on the importance of […]
Financial stress is impacting Canadians’ mental and physical health, as well as decisions related to their pension plans, said Matt Davison, Western University’s dean of science and principal researcher, during a session at Benefits Canada‘s 2023 DC Plan Summit. In an analysis of the National Payroll Institute’s annual survey, Western’s financial wellness lab found respondents’ financial perspectives […]
The Canadian Life and Health Insurance Association will now be working with participating insurers to collaborate on joint investigations into suspected benefits fraud schemes. This initiative builds on last year’s launch of a CLHIA-supported program that uses advanced artificial intelligence to identify fraudulent activity across a vast industry pool of claims data. “We’ve been working […]
Since interpretations of environmental, social and governance investing can vary, institutional investors can leverage artificial intelligence tools to strip away the noise and reveal data sets required to eliminate greenwashing and generate sustainable alpha, said Andy Moniz, senior vice-president and director of responsible investing at Acadian Asset Management, during the Canadian Investment Review’s 2022 Investment […]
Our industry sometimes gets a bad rap for being overly traditional and slow to change. But there’s no question we’ve seen some major shifts in employee benefits over the past 45 years. Three of those shifts will have implications for employers going forward. Greater onus on the individual to save for retirement Over the years, […]
The Canadian Life and Health Insurance Association is launching an industry initiative to pool claims data and use advanced artificial intelligence tools to enhance the detection and investigation of benefits fraud. While all Canadian insurance companies have their own internal analytics to detect fraud within their book of business, the new initiative — led by […]
Defined contribution plan sponsors are facing a world of disruption, from artificial intelligence and big data to the Great Resignation and the shifting of power from employers to employees. The ones that thrive will be those that flip old narratives to move forward, said Shawn Kanungo, a disruption strategist and partner at Queen & Rook Capital. […]