Manulife LOFT now backed by machine learning with new indico partnership

Manulife

Manulife’s Lab of Forward Thinking (LOFT), which is meant to encourage employees to collaborate and come up with tech solutions for Manulife’s wealth and asset management, announced a partnership with Boston-based indico to help the Lab better embrace machine learning.

LOFT will use indico’s platform to develop an artificial intelligence (AI) and Deep Learning tool to analyze unstructured financial data. Using deep learning, Manulife will be able to analyze data from news articles, analyst reports, and other similar sources and present recommendations that could help investment researchers and portfolio managers make more informed decisions.

“indico will help us accelerate our use of Deep Learning to improve the decision-making capabilities of our analysts, portfolio managers and researchers,” said Greg Framke, executive vice president and chief information officer of Manulife. “By introducing new capabilities that we know will add to our user experience and overall impact we will improve the customer experience.”

Manulife’s LOFT is using indico’s Deep Learning platform to decipher natural language and train the computer to extract insights that can be tailored to each analyst’s individual requirements.

“Deep Learning, while proven in the realms of the Facebooks and Googles of the world, is just starting to come into its own as an enterprise capability,” said Slater Victoroff, indico CEO and co-founder. “We have spent the past few years building a platform that significantly lowers the barriers of use around Deep Learning and this opens up tremendous potential around unstructured data analytics. John Hancock and Manulife are on the leading edge looking to more fully utilize their unstructured data assets to better serve their various constituents.”

Related: Manulife joins MaRS FinTech cluster, grabs LOFT space

Jessica Galang

Jessica Galang

Jessica Galang is BetaKit's News Editor. Follow her on Twitter @jessicagalangg or send her pitches to jessica.galang@betakit.com.