EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
How EY can Help
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Our Consulting approach to the adoption of AI and intelligent automation is human-centered, pragmatic, outcomes-focused and ethical.
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EY has identified seven distinct types of ecosystem business models, each with its own go-to-market, risk sharing and commercial characteristics. These range from marketplaces, where all brands can be present, to the “scaling” ecosystems favored by airlines, where individual players offer extended benefits to their customers through partnering.
We’ve also found that not all ecosystems are equal. High-performing ecosystems deliver, on average, 1.5 times the cost reduction of low-performing ecosystems. They also generate 2.1 times the incremental revenue growth.
EY teams work with an ecosystem of alliance partners, including Microsoft, SAP, and ServiceNow, to provide the right technology to help our clients create long-term value and transform at speed and scale.
Let’s look at three different ways that ecosystems add value.
Generative AI opens doors to business transformation
More than a third (37%) of Asia-Pacific CEOs are already actively investing in AI-driven innovation, and more than half (52%) have plans to do so within the next 12 months, according to the EY CEO Outlook Pulse Survey.
Asia-Pacific CEOs see AI as a “game changer” that drives business efficiencies and innovation, and 68% believe that job losses from AI will be counterbalanced with new roles and career opportunities.
EY has recently harnessed Microsoft Cloud and Azure OpenAI technologies to develop the EY Intelligent Payroll Chatbot. This tool analyzes individual payslips in the context of regulatory compliance and company policies to answer granular questions and generate personalized explanations for employees. Initial results from the chatbot pilot suggest a 93% first-time answer ratio.
Another powerful application of AI has laid the foundations for a higher education ecosystem. After the overnight pivot to online learning during the pandemic, many universities realized they were missing the digital spine needed to deliver a consistent experience to students. The EY Learning Lab tool uses generative AI to sift through existing content – from videos to blogs to quizzes to lecture notes – making corrections, filling in learning gaps, and creating new resources. The application is built on top of Microsoft technology and provides a rich, tailored, and consistent student experience.
Seven in 10 Asia-Pacific CEOs say AI can be a force for good – and EY agrees, which is why we’ve launched a new campaign showcasing the diversity of EY people, skills, technology, AI and, importantly, ecosystems.