EY.ai Receives $1.4 Billion Investment

EY (Ernst & Young), an international consulting, audit, corporate finance, strategy and tax company, has gathered all of its artificial intelligence (AI) innovation-development activities under a single platform "EY.ai". This combined platform, realised with an investment of 1.4 billion dollars, will help companies efficiently access the advantages of artificial intelligence technology and develop and transform their businesses.

EY, which has been embedding artificial intelligence in many global technology solutions for more than a decade and strengthening it with a three-year investment plan, invested $1.4 billion in 2023, especially in the "EY.ai" platform, which brings together human talents and artificial intelligence (AI). EY.ai consists of leading EY technology competences and AI platform with deep experience in strategy, operations, transformation, risk, audit and tax, supported by a strong AI ecosystem.

Also See: Google Invests $2 Billion in Artificial Intelligence Startup Anthropic

EY Aims to Offer Unique Service to Its Clients with "EY.ai"

EY will embed artificial intelligence and cutting-edge development tools into EY Fabric, its proven global technology tool, and make it available to more than 60,000 EY clients and over 1.5 million unique users. This step will enable client teams to respond faster to business transformation issues that are priorities for companies. According to EY, which also improved the way of working with customers thanks to the investment in artificial intelligence, one of the most important obstacles to the adoption of this advanced technology was the issue of trust. For this reason, EY formalised the EY.ai principles in 2022, which include the values of accountability, security, privacy, transparency, fairness, inclusiveness and professional responsibility, and is actively working with governments, multinational standard-setting bodies, industry associations and non-governmental organisations under the guidance of these principles. Accordingly, it aims to help develop best practices for the effective and reliable use of artificial intelligence.

This investment will also help EY employees with knowledge and skills in AI to maximise their potential. After the pilot programme started with 4,200 technology-oriented EY team members, EY will offer its employees special AI-based learning and development opportunities with the "EY.ai EYQ" programme. EY's comprehensive learning programme includes AI, data and analytics learning programmes launched in 2018 with more than 100,000 certificates to date, as well as the EY Tech MBA training programme launched in 2020.

EY.ai also brings together an ecosystem of diverse work, technologies and academic talent in the field of artificial intelligence. This ecosystem includes pioneering collaborations with some of the world's most innovative organisations, including Dell Technologies, IBM, Microsoft, SAP, ServiceNow, Thomson Reuters and UiPath, as well as other leading companies defining the future of AI.