According to Cointelegraph, Ernst & Young (EY), one of the Big Four global professional services providers, has announced the development of a new artificial intelligence (AI)-powered platform for its clients. The London-based firm has invested $1.4 billion into AI technologies for its new EY.ai platform, which aims to help organizations adopt AI. The platform is based on EY's own large language model (LLM), EY AI EYQ.
EY collaborated with Microsoft to gain early access to Azure OpenAI capabilities, including ChatGPT-3 and ChatGPT-4. EY also jointly invested with Dell in Dell Generative AI Solutions, which aims to simplify the adoption of generative AI with LLMs. The billions in AI investments will also go to embedding the technology into existing EY services, such as EY Fabric, which is already used by 60,000 clients with millions of unique users, along with the acquisition of additional technology supporting cloud and automation.
Carmine Di Sibio, global chairman and CEO of EY, commented on the development, saying the moment is 'now' for AI. 'The adoption of AI is more than a technology challenge... It's about unlocking new economic value responsibly to realize the vast potential of this technological evolution.' EY has long been anticipating the boom in AI integration, and in 2018, the company introduced an 'extensive' AI, data and analytics learning badge curriculum and credential program. According to their announcement, 100,000 credentials have been awarded to EY people to date, and the company has compiled 4,200 technology-focused team members.