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EY to Launch AI Platform After $1.4B Investment

EY.ai will be a new unifying platform to help organizations confidently adopt artificial intelligence (AI)

EY to Launch AI Platform After $1.4B Investment

Ernst & Young Global Limited (EY) on Sept. 13 introduced a new proprietary artificial intelligence (AI) platform called EY.ai, which aims to create a unified AI ecosystem encompassing a range of business, technological and academic capabilities.

“EY.ai reflects the culmination of work and knowledge that the EY organization has been building for a decade. The AI capabilities that EY teams have built and work with clients to date further validates that AI is transformative. I am highly confident that a human-centered approach to transformation using AI will empower EY people, enhance the quality of client work and ultimately change our working world for the better.”

Nicola Morini-Bianzino, EY Global Chief Technology Officer

The press release states that the platform has been developed over the last 18 months. It is supposed to assist EY clients in transforming their businesses “through the confident and responsible adoption of AI.”

After an initial pilot with 4,200 EY technology-focused team members, the company will be releasing a large language model (LLM) called EY.ai EYQ. In addition, EY announced the start of a comprehensive learning program designed to elevate and expand the AI skills of its personnel and assist customers in implementing AI.

The new platform was built due to EY’s previous investment of $1.4b into the technology. The company has embedded AI into proprietary technologies like EY Fabric and secured a series of tech acquisitions with supporting cloud and automation technologies.

The initiative also got support from numerous innovative tech partners, including Dell Technologies, IBM, Microsoft, SAP, ServiceNow, Thomson Reuters and UiPath, as well as emerging AI startups.

A notable strategic alliance is with Microsoft, which has provided the EY organization with early access to Azure OpenAI capabilities, such as GPT-3 and GPT-4. Therefore, EY teams are currently building and deploying advanced Generative AI solutions to enhance EY service offerings.

We have previously explained How AI Can Facilitate Sustainable Investing.

Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.