Plan sponsors are increasingly exploring artificial intelligence (AI) as a means of solving their benefits challenges. AI encompasses a wide range of solutions, from simple chatbots to more sophisticated experiences that leverage predictive analytics, machine learning and natural language processing.
Applications of AI in the benefits space are limitless. Some forward-thinking plan sponsors are already using AI to increase operational efficiency, remove bias and fraud from processes, reduce investment risk, improve human decision-making and enhance participant satisfaction — among many other applications.
Plan sponsors often find it difficult to evaluate AI vendors, who may be unfamiliar names and likely do not specialize in the benefits space.
SBA understands the challenges posed by conducting a vendor search in this up-and-coming field. We have experience helping plan sponsors develop and execute RFPs for a variety of AI projects.
This service is available for the following benefit plan types:
| Defined Contribution |
Defined Benefit |
Health & Welfare |
Non-Qualified |
|---|---|---|---|