Axa, a major French insurance company, has projected that its recurring profits from artificial intelligence (AI) will reach between 500 and 700 million euros annually before taxes by 2029. This estimate is a key part of the company's new strategic plan, "Growing Forward," which was unveiled recently. Guillaume Borie, Axa's strategy officer, emphasized that AI is "an absolutely determining element" of the plan, stating that it will help the company operate more efficiently, quickly, and fairly. AI has already played a significant role in Axa's previous three-year strategy, which is set to conclude this year. Starting next year, AI will be systematically integrated into all critical areas of the company's operations. The details of the plan were published in an investor presentation released on September 15, 2026. Axa outlined various AI experiments already underway in its subsidiaries. For example, in Axa Switzerland, AI is used to analyze photos and videos of damaged vehicles to assess damage, estimate repairs, and speed up compensation—often within four minutes. In health insurance, AI is being used to sort reimbursement requests and detect fraudulent or unusual expenses. Algorithms are also helping to better assess risks and set more accurate prices for insurance contracts. AI is being deployed in call centers to transcribe conversations, collect information, and automatically fill out files. In Axa Italy, this system has reduced the processing time for certain requests by 20%. Additionally, an AI-based sales assistant has reportedly increased the conversion rate of quotes by 1.5 times in at least one of Axa's subsidiaries. These developments come amid broader discussions about the pace of AI development. Some leaders in American tech, like Dario Amodei, CEO of Anthropic, have urged caution due to concerns about AI models becoming too powerful to control. Despite these concerns, Axa is focusing on expanding its market presence in areas such as small and medium-sized business insurance, life insurance, direct insurance (marketed alongside a network of general agents), and inclusive insurance, which offers low-cost coverage for modest employees and retirees. The company aims to reach 100 million customers by 2029, up from 92 million today, and to exceed 10 billion euros in profit by the end of the plan. To achieve these goals, Axa plans to continue cost control efforts, supported in part by AI, as well as by better management of general expenses and restructuring of its headquarters. The company has set specific financial targets for 2029, including an annual average operational profit growth per share of 7% to 9%, up from the current 6% to 8%. Shareholders are expected to benefit through dividends that will be "at least equal to the previous year's level" and through share buybacks. Axa also confirmed that it is on track to meet the goals set in its 2024-2026 plan. In late April, shareholders renewed CEO Thomas Buberl's four-year mandate, allowing him to lead the company until 2030.