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Prudential plc and Google Cloud have announced an expanded strategic partnership to develop innovative AI-powered products and applications aimed at enhancing the experience for customers, agents, and employees.

At the heart of this partnership is the launch of Prudential’s AI Lab, a pioneering initiative in the Asian and African insurance markets. Supported by Google Cloud, the AI Lab will focus on leveraging AI to address both business challenges and consumer needs. This lab represents a significant step forward in Prudential’s commitment to technological innovation and its vision of creating value for all stakeholders.

Prudential’s AI Lab, based in Singapore, is the first of its kind in these regions and is set to become a hub for developing cutting-edge AI solutions. It will provide Prudential’s 15,000 employees with a dedicated environment to experiment with and scale AI products and services. These innovations will utilize advanced language models, state-of-the-art AI and data analytics tools, and robust cloud infrastructure provided by Google Cloud.

Thomas Kurian, CEO of Google Cloud, highlighted the potential of generative AI to drive innovation within the insurance industry. “Generative AI represents a significant opportunity to drive innovation in the insurance industry. Our collaboration with Prudential and the launch of its AI Lab will help to reimagine customer experiences, optimize operations, and unlock new growth possibilities. Google Cloud is committed to providing the AI and data analytics capabilities, as well as the expertise needed to support Prudential’s vision for the future of insurance,” he said.

The AI Lab will offer Prudential’s 15,000 employees a dedicated environment to develop and scale AI products and services. This includes access to advanced language models, cutting-edge AI and data analytics tools, and comprehensive cloud infrastructure. The partnership between Prudential and Google Cloud presents an opportunity to shape the future of AI in life and health insurance.

With Google Cloud’s expertise in health-focused AI, the lab will initially focus on using AI to improve healthcare access and assist agents in delivering personalized customer experiences. Additionally, the lab will work on enhancing operational processes to improve the experiences of customers, agents, and staff while driving new efficiencies.

Anil Wadhwani, CEO of Prudential plc, stated that the company is dedicated to leveraging technology to create value for all stakeholders. He noted that Prudential is already using data, advanced analytics, and AI to enhance customer and agent experiences while improving operational efficiency.

The expanded partnership with Google Cloud will empower Prudential’s workforce and accelerate its time to market, particularly in the growing health insurance sector. By deepening their collaboration, Prudential and Google Cloud aim to build the future of insurance for their customers.

The AI Lab, set to launch later this year in Singapore, will advance Prudential’s strategic goals of accelerating the use of AI, machine learning, and generative AI. The lab will focus on delivering superior customer experiences, driving technology-driven distribution, and improving access to affordable, quality healthcare. It will collaborate with research institutions, universities, startups, and AI experts.

This launch strengthens the ongoing partnership between Prudential and Google Cloud, which began in 2019. Both companies have been working together on digital transformation initiatives aimed at improving insurance, health, and financial outcomes for millions of people across Asia and Africa.

As the AI Lab prepares to launch later this year, the partnership between Google Cloud and Prudential is poised to lead a new era of innovation in the insurance industry. By harnessing the power of AI, Prudential is setting the stage for a future where insurance is more personalized, efficient, and accessible, ultimately delivering better outcomes for customers, agents, and employees alike.

With this strategic partnership, Prudential and Google Cloud are not only transforming the insurance industry but also setting a new standard for how AI can be used to drive positive change across sectors. The future of insurance in Asia and Africa is here, and it’s powered by AI.