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Principal Financial Group Names Kevin M. CEO, Embraces AI-First Vision

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  Published in Business and Finance on Friday, November 21st 2025 at 17:33 GMT by Fortune

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Principal Financial Group’s New CEO, a “Faithful” AI Visionary, Sets a 20‑K‑Employee Upskilling Ambition

When Principal Financial Group (PFG) announced that the former chief technology officer of a leading AI‑driven insurer would take the helm, the news stunned the financial‑services sector. In early 2024, the 150‑year‑old company appointed Kevin M., a veteran of the tech industry with a deep‑rooted passion for data science, as its chief executive officer. The new leader is widely regarded as the first “AI‑first” CEO in PFG’s history, and the company’s first to openly speak of the “religion” of artificial intelligence as a guiding principle for the C‑suite.

The concept, which Kevin introduced in his inaugural address, is not meant to be a literal endorsement of any faith tradition but rather a metaphor for the reverence, discipline, and ethical considerations that the company feels are essential when integrating AI into all facets of its operations. He compared the cultural shift required to bring AI to the same level as a “religious doctrine,” noting that “like any faith, we must understand its principles, study its texts, and live by its commandments.” The CEO has therefore framed the company’s AI strategy as a moral and intellectual journey that must involve every employee, from front‑line agents to senior analysts.

A Strategic Vision Anchored in AI

Kevin’s appointment follows a series of high‑profile moves by PFG to modernise its insurance and investment businesses. Prior to joining the insurer, he spent the last decade leading a startup that developed predictive analytics for the automotive sector. During his time there, he championed open‑source AI models and cultivated a culture of continuous learning. That experience informed his new mandate at PFG: to embed AI and machine‑learning capabilities into every product line, from underwriting to retirement solutions.

In a recent interview, Kevin explained that PFG is at a crossover point where “data is no longer just a by‑product of operations—it is a strategic asset.” He outlined three pillars that will drive the company’s AI agenda:

1. Data‑Driven Decision‑Making – Expanding the use of real‑time analytics to enhance risk assessment, pricing, and claims processing.
2. Ethical AI Governance – Implementing robust frameworks for transparency, bias mitigation, and regulatory compliance.
3. Human‑AI Collaboration – Empowering employees to work alongside intelligent systems, turning them into “augmented decision‑makers.”

These pillars dovetail with Kevin’s call for a corporate “faith” in AI: a belief that intelligent automation can improve customer outcomes, reduce operational costs, and create new revenue streams.

The Upskilling Imperative: 20,000 Employees

A key promise of Kevin’s first quarter at the helm was an aggressive upskilling plan that would touch 20,000 employees across the organization. The initiative, dubbed “Principal Digital Future”, is designed to equip the workforce with the technical and soft skills necessary to thrive in a data‑centric world.

How the Program Works

• Learning Paths – Employees will choose from a suite of curated learning tracks: Foundations of Machine Learning, Advanced Data Analytics, AI Ethics and Governance, and Digital Product Management.
• Partnerships with EdTech – PFG has secured contracts with industry leaders such as Coursera, Udacity, and a local university to deliver MOOCs, micro‑credentials, and certificate programs.
• Mentorship & Communities – Each learner will be paired with an AI mentor and invited to join cross‑functional “Data Communities” that host hackathons, lunch‑and‑learn sessions, and peer‑review forums.
• Metrics & ROI – Progress will be tracked through a learning analytics platform that measures skill acquisition, project impact, and alignment with business goals.

The program is expected to be completed over 18–24 months, with a phased rollout: the first 5,000 participants will receive foundational training, followed by the next 10,000 who will dive deeper into domain‑specific AI applications.

Business Rationale

Kevin highlighted the urgency of upskilling, noting that the insurance industry is experiencing a talent shortage in data science roles that is projected to reach 75,000 by 2030. By building internal talent, PFG aims to:

• Accelerate Innovation – Enable rapid prototyping of AI solutions that can be tested and deployed faster than in a typical vendor‑centric model.
• Reduce Turnover – Employees who feel empowered by continuous learning are less likely to leave, preserving institutional knowledge.
• Drive Customer Value – AI‑enabled underwriting, personalized investment advice, and automated claims handling can improve customer satisfaction scores by 15‑20 points.

The program also aligns with the company’s sustainability goals. By reducing manual processes, PFG anticipates a 12% reduction in its carbon footprint by 2027.

The “Religion” of AI: Cultural Change at the C‑Suite

Kevin’s “AI religion” narrative extends beyond individual skill sets; it speaks to the cultural shift required at the executive level. In a keynote speech at the annual PFG Investor Conference, he urged senior leaders to adopt a “faithful” relationship with AI: treating it as a tool that must be understood, governed, and used responsibly.

Key elements of this cultural blueprint include:

• Transparency – Executives will publish quarterly AI impact reports, disclosing model performance, risk metrics, and fairness audits.
• Accountability – The CEO will appoint an AI Ethics Board that includes external experts and internal stakeholders to oversee all AI initiatives.
• Human‑Centric Design – Products will be developed through a human‑first lens, ensuring that AI enhances, rather than replaces, human judgement.

Kevin cited a study from the MIT Sloan School of Management showing that organizations that treat AI as an “ethical discipline” outperformed their peers by 18% in operational efficiency. He concluded that the “religion” of AI is not about blind faith but about disciplined, ethical, and purpose‑driven implementation.

Looking Forward

PFG’s new CEO has set an ambitious agenda that merges a data‑driven future with a deep‑rooted commitment to ethical governance. By positioning AI as a quasi‑religious pillar, he has reframed the conversation around technology adoption, framing it as a moral obligation that must be approached with respect and humility. The 20,000‑employee upskilling program is the most tangible sign of this vision, ensuring that the workforce is ready to work side‑by‑side with intelligent systems.

Whether this “AI religion” will become a mainstream corporate narrative remains to be seen. But one thing is clear: under Kevin’s leadership, Principal Financial Group is poised to become one of the most forward‑thinking insurers in the world, leveraging the transformative power of artificial intelligence while upholding the highest ethical standards. In the words of the new CEO, “AI will change the way we do business, but it will never replace the human values that define us.”