BCBS of Michigan Saves $10M with GenAI on Contracts. Yes $10M
Learn the specifics on a Dec 19 webinar at Noon EST
It has become very clear that 2025 will be an absolutely explosive year of GenAI spending by companies, as hundreds of thousands of firms leverage lessons from small AI pilots and move to in-production deployments.
It is also clear that everyone is overwhelmed by the pace of innovation and the plethora of AI product choices.
Learning from the early visionaries who are in-production with GenAI is the best ways to hone your plans and reduce company and personal career risk.
One of these GenAI pioneers is Blue Cross Blue Shield of Michigan (BCBSM), led by their EVP, CIO and AI Chief – Bill Fandrich.
BCBSM is a massive insurance company with $36 billion in revenue in a highly regulated industry with 8,500 employees. Bill Fandrich and his team have deployed an impressive set of GenAI uses in production, all leveraging AI middleware, which is a central "choke point" for every LLM call to both “publicLLMs” (OpenAI ChatGPT, etc.) and “private LLMs” (Meta Llama, etc.) to ensure compliance for all aspects of responsible AI (tracking, obfuscation, company-specific guardrails, etc.).
One of their impressive GenAI use cases is contract management. BCBSM manages 128,000 contracts (yes, that many), and these contracts have lots of opportunities for cost savings, including:
- Contracts with duplicate services (i.e., paying twice for the same service)
- Contracts with auto-renewal or inflation clauses
- Contracts that don't specify data use for AI
BCBSM set up a system with subject matter experts and GenAI to analyze these contracts and saved $10M. Yes, $10M.
This is a massive ROI and helped BCBSM executives and the entire organization understand the value of GenAI.
Want to learn more?
Join us this Thursday, December 19 at Noon EST for a review of this case study with Bill Fandrich, EVP and CIO of BCBSM. Register here.
Join GAI Insights in Davos, Switzerland at the Imagination In Action/MIT AI Summit held concurrently the annual World Economic Forum. GAI Insights is helping with organization of this event. A key theme is “Own Your Own Intelligence” about which we have written. We have several free tickets left, email me if you are interested in attending (you pay for flight to Zurich, stay in hotel in Zurich and take 2 hour train to event on Jan 22).
The program has an impressive set of confirmed speakers:
Demis Hassabis, founder of Deepmind
Sally Kornbluth, President, MIT
David Rubenstein, Chairman, Carlyle Group
Yann LeCun, Chief AI Scientist, Meta
Yoshua Bengio, Professor, University of Montreal
Max Tegmark, Professor, MIT
Randall Lane, Content, Forbes
Daniela Rus,Director CSAIL, MIT
Steve Pagluica, former Chairman, Bain Capital
Bill Gross, Founder, Idea Lab
Aidan Gomez, CEO, Cohere
Dario Amodei, CEO, Anthropic
Ori Goshen, CEO, A121 Labs
Shikhar Ghosh, Professor, Harvard Business School
John Sviokla, Co-founder, GAI Insights
And more
“We suffer more often in imagination than in reality” - Seneca
Onward,
Paul