TL;DR:
- EY launches EY.ai, a transformative AI platform merging human expertise with AI capabilities.
- US$1.4 billion investments form the foundation for EY.ai, embedding AI into EY technologies and enabling strategic acquisitions.
- EY focuses on upskilling its workforce in AI through a comprehensive learning program.
- EY.ai builds a robust AI ecosystem with partnerships with tech giants like Microsoft, Dell, and Thomson Reuters.
- The platform employs AI evaluation tools, benchmarks enterprise maturity, and accelerates AI-driven solutions.
- EY.ai democratizes AI for its teams and 1.5 million users globally through EY Fabric.
- The platform offers innovative AI solutions, including a payroll chatbot and advanced Assurance technology.
- EY explores AI research collaboration with the University of Southern California.
- EY launches an integrated marketing campaign highlighting AI’s role in shaping the future of its services.
Main AI News:
In a monumental stride towards the future of business transformation, the global EY organization proudly announces the launch of EY.ai, a pioneering platform at the nexus of human ingenuity and artificial intelligence (AI). EY.ai stands as a testament to EY’s unwavering commitment to empowering clients with the profound potential of AI, all while ensuring responsible and confident integration. Drawing from cutting-edge EY technology platforms and AI capabilities, bolstered by extensive expertise in strategy, transactions, transformation, risk, assurance, and tax, EY.ai is further fortified by a thriving AI ecosystem.
The formidable foundation of the EY.ai platform is a result of EY’s substantial investments, totaling a staggering US$1.4 billion. These investments have catalyzed the seamless infusion of AI into EY’s proprietary technologies, such as EY Fabric, a trusted tool employed by 60,000 EY clients and over 1.5 million unique users. Moreover, these investments have paved the way for strategic acquisitions in the realm of technology, cloud, and automation.
Carmine Di Sibio, EY Global Chairman and CEO, articulates the pivotal moment for AI, asserting, “AI’s moment is now.” However, he emphasizes that adopting AI transcends the realm of technology; it’s about harnessing the transformative potential across every facet of an enterprise. EY is resolutely positioned to guide clients in unlocking the boundless economic value brought forth by this technological evolution.
Elevating the Role of Individuals in the AI Landscape
EY’s commitment to nurturing the capabilities of its people is at the core of EY.ai. Following a successful pilot involving 4,200 technology-focused team members, EY will introduce EY.ai EYQ, a secure and expansive language model. Furthermore, bespoke AI learning and development programs will be extended to EY’s workforce.
This comprehensive learning initiative aims to equip EY professionals with advanced AI skills while emphasizing responsible AI usage. Building upon the foundation laid by the AI, data, and analytics learning badge curriculum introduced in 2018, along with the EY Tech MBA launched in 2020. This program is poised to shape a workforce prepared for the AI-driven future.
A Confluence of AI Expertise
EY.ai orchestrates a dynamic AI ecosystem that encompasses diverse business, technological, and academic capabilities. Forming strategic alliances with pioneering organizations, including Dell Technologies, IBM, Microsoft, SAP, ServiceNow, Thomson Reuters, and UiPath, as well as emerging leaders in AI, EY.ai is at the forefront of defining the future of AI.
Through its partnership with Microsoft, EY gains early access to Azure OpenAI capabilities, including GPT-3 and GPT-4, enabling the development and deployment of advanced Generative AI solutions. Collaboration with Dell Technologies advances AI-focused capabilities, simplifying generative AI adoption for organizations. Additionally, Thomson Reuters joins forces with EY to accelerate the co-development of AI-driven solutions across various domains.
Andy Baldwin, EY Global Managing Partner – Client Service, underscores the collaborative spirit of EY.ai. He emphasizes the role of the EY alliance ecosystem in connecting clients with cutting-edge technology, infrastructure, and expertise, thereby elevating client service to unprecedented levels of excellence.
The Backbone of AI-Powered Solutions
EY.ai is underpinned by the EY.ai Confidence Index, which employs industry-leading practices to evaluate and monitor AI comprehensively. Complementing this is the EY.ai Maturity Model, which benchmarks an enterprise against industry peers. The EY.ai Value Accelerator aids in prioritizing initiatives and solutions for maximum strategic impact and growth.
Furthermore, EY.ai democratizes AI capabilities by embedding generative AI and advanced development tools into EY Fabric, the organization’s globally acclaimed technology foundation, powering 80% of the US$50 billion EY business. This empowers client-serving teams to respond rapidly to global business transformation demands.
EY.ai in Action
EY.ai presents an array of AI solutions and services, including the EY Intelligent Payroll Chatbot, designed in collaboration with Microsoft, to simplify employee payroll inquiries and enhance the employee experience. Additionally, EY has recently rolled out 20 new Assurance technology capabilities, incorporating globally scaled AI, to support Assurance professionals in assessing risk and providing AI-enabled capabilities in predictive analytics, content search and summarization, and document intelligence.
Nicola Morini-Bianzino, EY Global Chief Technology Officer, affirms that EY.ai represents a decade of relentless effort and knowledge. He asserts that AI’s transformative potential, when harnessed with a human-centered approach, will not only empower EY professionals but also elevate the quality of client work, ushering in a brighter future.
Pioneering AI Research and Collaboration
EY is actively exploring a joint research opportunity with the University of Southern California’s School of Advanced Computing, aligning with the university’s US$1 billion Frontier of Computing initiative. This collaborative effort focuses on advancing AI technology with a strong ethical and responsible foundation.
A Vision of Augmented Skills
To herald the launch of EY.ai, a captivating integrated marketing program, themed ‘The Face of the Future,’ is set in motion. This creative campaign showcases EY professionals augmented and empowered by AI, shedding light on the myriad of EY services that are set to benefit from AI integration. Rooted in EY’s mission to ‘Build a Better Working World,’ the campaign underscores how the EY.ai platform can instill confidence, unleash exponential value, and create a positive human impact. The campaign is scheduled to go live across all channels in October, heralding a new era of AI-driven transformation.
Conclusion:
EY’s launch of EY.ai signifies a major leap in the integration of AI into business operations. With significant investments, strategic alliances, and a focus on upskilling its workforce, EY is well-positioned to lead in delivering AI-powered solutions to clients. This move reflects the increasing importance of responsible AI adoption in the market, underlining EY’s commitment to driving business transformation in an AI-driven world.
