PRUDENTIAL FINANCIAL
“ For example, our companywide forecasting will be significantly enhanced. That means we’ ll be able to help stakeholders in finance with inflationary or rate expectations. We’ ll be able to play payment timing to earn early discounts, and we’ ll have the ability to overlay agentic AI on top of our data to propose index linked adjustments.
“ Suddenly, a clean set of spend data becomes a very powerful tool, on which we can build what we’ re calling a feature store – a place with the consolidated inputs you need for deploying machine learning models and AI across the other functions, not just procurement,” he states.
The transformation has shifted the dial culturally, too. As a result of the work, database intelligence can be driven into other functions, Richard reports.
At the same time, analysis and insight across Prudential Financial has moved from anecdote to evidence, with the introduction of more technology also driving efficiencies and enabling team members to spend more time adding measurable strategic value to the organisation.
“ We now have the foundations in place to allow us to move headfirst into AI,” says Richard, looking ahead.“ We have a trusted set of data from which to build the vectors required for AI solutions to mine, and I’ d advise anyone considering transformation to do exactly the same. We have some big wows coming once we start overlaying our generative and agentic solutions and I’ m excited about the future – we’ re headed in a pretty amazing direction.”
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