EY, a professional services firm, has announced the launch of a new artificial intelligence (AI) platform called EY.ai, which aims to help organizations adopt AI and leverage its potential. The platform is based on EY’s own large language model (LLM) called EY AI EYQ, which can generate natural language and answer complex questions.
According to a post on September 13, 2023, EY has invested $1.4 billion in AI technologies for its new platform, which is part of its broader digital transformation strategy. The investment also covers the acquisition of technology assets and talent in the fields of cloud, automation, and data analytics.
EY claims that its new platform can offer AI-powered versions of its consulting products and services, such as audit, tax, strategy, transactions, and risk. The platform can also help clients with various use cases, such as enhancing customer experience, optimizing operations, improving compliance, and driving innovation.
EY partners with Microsoft and Dell to access advanced AI capabilities
To develop its new platform, EY has partnered with Microsoft and Dell, two leading technology companies that offer advanced AI capabilities. EY has access to Microsoft’s Azure OpenAI facilities, which include ChatGPT-3 and ChatGPT-4, two powerful language models that can generate realistic and coherent text. EY has also entered into a joint investment agreement with Dell for the latter’s Generative AI potential, which can create novel and diverse content such as images, videos, and music.
EY says that these partnerships enable it to leverage the latest AI technologies and offer customized solutions to its clients. EY also says that it follows ethical and responsible principles when using AI and ensures that its solutions are transparent, fair, secure, and trustworthy.
EY invests in developing its own AI talent and culture
In addition to investing in external AI technologies and partnerships, EY has also invested in developing its own AI talent and culture. In 2018, EY introduced an AI, data and analytics learning badge curriculum and credential project, which aims to train its employees in AI skills and competencies. The project has awarded more than 30,000 badges to EY professionals so far.
EY has also created an internal AI community called EY Wavespace Network, which connects more than 40 innovation centers around the world. The network fosters collaboration and experimentation among EY teams and clients on various AI projects and initiatives.
EY believes that by investing in its own AI capabilities and culture, it can enhance its value proposition and differentiation in the market. EY also hopes that by helping its clients adopt AI, it can contribute to creating a better working world.