EY, a major consulting firm, has teamed up with Nvidia to introduce AI agents that will support its global workforce. Raj Sharma, EY’s global managing partner for growth and innovation, highlighted that these AI agents will automate and enhance business operations, particularly in tax, risk, and finance. The collaboration aims to develop the EY.ai Agentic Platform, utilizing Nvidia’s technology to help over 80,000 EY professionals improve productivity and compliance. Initially, the AI agents will focus on improving sales and use tax processes but plan to expand their role in other areas. This partnership comes as EY navigates challenges following a tough financial year and seeks to adapt to the evolving landscape of AI in consulting.
EY Partners with Nvidia for AI-Driven Services
EY, a leading consulting firm, has recently teamed up with Nvidia to enhance its services with advanced AI technology. This collaboration aims to deploy “AI agents” that will support EY’s global workforce and transform business operations through automation.
Raj Sharma, EY’s global managing partner for growth and innovation, expressed that the integration of “Agentic AI” is set to revolutionize how businesses operate. He believes this alliance will enable EY’s clients to gain valuable insights across various sectors, including tax, risk, and finance. The goal is to equip clients with the necessary tools to navigate the evolving landscape of AI effectively.
In the past year, several consulting firms have aligned with Nvidia, a key player in the microchip industry, to harness the full potential of AI. Notably, EY joins other major firms like Cognizant, Accenture, and TCS in this initiative. The partnership will focus on the development and global deployment of EY’s AI Agentic Platform, powered by Nvidia’s cutting-edge technology.
The AI system is designed to respond to real-time events and adapt to changes in regulations, ultimately improving decision-making in financial and risk management. EY plans to deploy over 150 specialized AI agents to assist their 80,000 professionals, streamlining complex compliance processes and enhancing productivity.
EY has indicated that the initial application of these AI agents will improve Sales and Use Tax compliance tasks. As they expand, the capabilities will include automating data collection, document reviews, processing invoices, and responding to regulatory inquiries.
This move towards AI comes as EY faces challenges from a rocky 2024, which included a turmoil over a potential firm split and scrutiny from a conflict of interest scandal in Australia. The firm has already announced job cuts in its consulting and legal departments as it adjusts to the evolving Market.
While demonstrating a commitment to innovation, EY’s shift toward AI adoption places pressure on the firm to meet client expectations. As AI agents become a vital part of EY’s services, the firm’s ability to deliver effective solutions will be crucial to its future success.
Tags: EY, Nvidia, AI agents, consulting firms, business operations, tax compliance, automation, financial services.
What is the partnership between EY and Nvidia about?
EY and Nvidia are working together to enhance their services by using advanced AI agents. This partnership aims to improve how businesses operate and make decisions using artificial intelligence.
How will AI agents help businesses?
AI agents can analyze data quickly and provide insights that help businesses make better decisions. They can automate tasks, improve efficiency, and enable companies to focus on more strategic work.
What kind of services will this partnership offer?
The collaboration will offer various services, including data analytics, risk management, and customer service improvements. These services will utilize AI technology to provide smarter solutions for clients.
Who can benefit from these AI services?
Any business or organization looking to enhance its operations can benefit from these AI services. This includes companies in finance, healthcare, technology, and more.
When can clients start using these AI-powered services?
Clients can expect to see these AI-powered services rolling out soon as EY and Nvidia continue to develop and refine their offerings. Specific timelines will be shared as the partnership progresses.