Maximizing Efficiency: UniSuper Utilizes Microsoft 365 Copilot for Enhanced Member Outcomes
UniSuper: Pioneering the Use of Generative AI
Overview of UniSuper
UniSuper stands out as one of Australia’s premier superannuation funds, managing an impressive A$139 billion and serving over 647,000 members. The fund is distinguished by its strategy of handling 70% of its investments internally, allowing it to respond quickly and innovate in ways that others in the industry may find challenging.
Embracing Generative AI
In early 2023, when tools like OpenAI’s ChatGPT gained mainstream popularity, UniSuper recognized the significant potential of generative AI to transform the financial services sector. The fund took proactive steps by joining the Microsoft 365 Copilot Early Access Program and initially rolled out 300 licenses, which were later expanded to 1,200 in July 2024.
Peter Chun, CEO of UniSuper, emphasized the importance of developing foundational AI capabilities within the workforce. He believes this will enhance operational efficiency now and lead to more personalized retirement solutions for members in the future.
Advantages of Copilot for Employees
Enhanced Efficiency for Financial Advisors
UniSuper’s implementation of Copilot aims to improve various operational processes. According to Matt Bright, Senior Manager of Emerging Technology and Efficiency, one of the most significant benefits is seen among the fund’s financial advisors. They now have tools to streamline member engagement, which has reportedly saved advisors around 30 minutes per client meeting on Microsoft Teams. This efficiency is expected to save 1,700 hours annually and increase member consultations by 7%.
By minimizing time spent on administrative tasks, advisors can focus more on serving members’ needs, enhancing the quality of interactions and overall member satisfaction.
Improved Project Management
Copilot has also significantly impacted project management within UniSuper. Employees can quickly draft business requirements and project plans, resulting in a more efficient workflow. As Bright explains, Copilot provides a solid starting point, allowing employees to circumvent the initial stages of project planning that typically take weeks.
This capability enhances both the quality of work produced and the time spent on fulfilling project objectives.
Driving Inclusivity
Beyond operational efficiency, Copilot fosters a more inclusive workplace. Employees who might have hesitated to engage in technical discussions now feel empowered to contribute after familiarizing themselves with the tool. Bright notes that Copilot offers a pathway for more individuals to engage in conversations they previously avoided.
Risk Management and Compliance
Another area where Copilot is proving beneficial is in risk management and compliance. The tool aids in reviewing intricate contract details, ensuring compliance clauses are properly addressed without excessive manual analysis.
While efficiency metrics are important, UniSuper is also looking at overall employee satisfaction, work-life balance, and the quality of tasks performed as part of measuring the impact of Copilot.
Training and Knowledge Development
To ensure successful adoption of Copilot, UniSuper has evolved its training methods. Initially, training was tailored for early adopters, but as the tool’s use expanded, a comprehensive training framework was developed. This includes both basic and role-specific education facilitated by Microsoft partner Capgemini, alongside self-paced modules from the Microsoft Copilot Academy.
Further resources, like prompt templates and short instructional videos, are made available, promoting hands-on learning among employees.
UniSuper has also established an AI Champions Network composed of enthusiastic employees who lead by example as "super users" of Copilot. Their goal is to foster an environment of shared experiences and collective learning.
Governance and Responsible AI Adoption
UniSuper’s AI initiatives are guided by a dedicated governance team, which includes leaders from various departments. This collaborative group ensures a balanced perspective between governance and opportunity while leveraging generative AI.
The Copilot tool was tested initially with leaders and AI advocates to establish necessary compliance and training standards before wider deployment. Learning from these early experiences has helped build trust within the organization, encouraging a broader acceptance of the technology.
Future Plans
Looking ahead, UniSuper intends to explore more advanced applications of Copilot, focusing on enhancing operational efficiency and project delivery. The organization aims to implement tailored support agents that can streamline high-volume processes.
Moreover, UniSuper is committed to maintaining a robust risk and control framework around Copilot, which will help ensure that generative AI is used responsibly and securely.
In navigating this transformative landscape, feedback and change management have been significant priorities for Bright and the UniSuper team. Their focus includes understanding user experiences and developing the necessary habits for effective technology use, reinforcing that successful AI implementation does not require deep technological expertise. Instead, the ability to communicate clear goals remains paramount for realizing the full potential of tools like Copilot.
