Ernst & Young (EY), one of the world's leading professional services providers, has unveiled its latest artificial intelligence (AI)-enabled platform, aimed at assisting its clients. This London-based firm announced a substantial $1.4 billion investment in AI technology to create the EY.ai platform, designed to facilitate organizations' adoption of artificial intelligence. The foundation of this platform is EY's proprietary large language model (LLM), EY AI EYQ.
EY has strategically partnered with Microsoft, affording them early access to Azure OpenAI capabilities, including ChatGPT-3 and ChatGPT-4. The firm has also joined forces with Dell to invest in the Dell Generative AI solution, a tool aimed at simplifying the adoption of generative AI through LL.M.
The significant investment in AI will also be used to integrate this technology into existing EY services, including EY Fabric, a platform utilized by 60,000 clients and millions of unique users. Furthermore, it will support the acquisition of cloud and other automation technologies. Carmine Di Sibio, EY Global Chairman and CEO, emphasized the timeliness of AI adoption:
"The adoption of AI is not just a technical challenge... but about responsibly unlocking new economic value to realize the huge potential of this technological evolution."
EY has long recognized the impending integration of AI and, in 2018, launched an extensive AI, data, and analytics learning badge course and certificate program. According to their recent announcement, EY has awarded 100,000 certificates to its employees to date and established a workforce of 4,200 technology-focused team members. DiSibio highlighted the widespread consideration of AI's integration and its potential future impact:
"Every business is thinking about how to integrate this into their operations and what the impact will be in the future."
EY has been actively incorporating emerging technologies into both its internal operations and external services. Last October, it collaborated with a Norwegian government agency to establish a presence in the virtual universe. However, EY is just one of many major companies worldwide embracing AI services, and on September 13, Goldman Sachs dismissed the notion that the current enthusiasm surrounding artificial intelligence is merely a bubble, instead forecasting an impending "revolution."
