Nationwide Pledges $1.5B to AI Initiatives

Nationwide announced its investment of $1.5 billion through 2028 in technology innovation initiatives, with $100 million earmarked for advancing AI each year for the next three years.

“The world is in the next industrial revolution. It’s happening now, and it’s powered by artificial intelligence that is transforming how all of us work,” said Nationwide CEO Kirt Walker. “Our modern mutual structure, which combines the long-term vision of a mutual and the agility of a public company, allows Nationwide to capitalize on this revolution.

We’re using new tools to drive deep partnerships, manage risk more proactively, innovate with agility and engage our communities – focusing on the benefits for our customers.”

Nationwide’s investment focuses on three priorities, including its goal to have 90% of employees using everyday AI platforms by 2026; enhancing the customer experience with the use of new tools; and establishing an operating model that “fuels agility in decisionmaking, improves productivity and speed and facilitates always on service to customers.”

Since 2015, Nationwide has invested $5B in technology modernization. The company has two purpose-driven teams exploring AI capabilities: a Blue Team and a Red Team. The Blue Team creates and tests the benefits of AI such as added efficiency, customer service opportunities and new use cases to help its businesses support customers. The Red Team considers compliance, risks and vulnerabilities. 

“We have been advancing artificial intelligence capabilities for more than 15 years, and we believe that AI should be people-connected and machine-enabled,” said Nationwide Chief Technology Officer Jim Fowler. “This investment will help Nationwide deliver on its promise to harness AI thoughtfully and boldly, empowering employees to use AI productively and responsibly.” 

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