EY has partnered with Nvidia to enhance its services using AI technology. This collaboration aims to deploy “AI agents” that will support EY’s global workforce, helping them with tasks like tax compliance and decision-making in finance and risk management. Raj Sharma, EY’s global managing partner, emphasized that these AI agents will provide businesses with crucial insights to thrive in a competitive landscape. Initially focused on Sales and Use Tax processes, the AI agents will automate tasks such as data collection and document review. This move comes as EY faces financial challenges and aims to position itself as a modern firm that embraces new technologies to better serve its clients.
EY Teams Up with Nvidia to Enhance AI Services
EY, one of the Big Four consulting firms, has announced a new collaboration with Nvidia, the leading chip manufacturer known for its advancements in artificial intelligence. This partnership is aimed at deploying AI agents that will assist EY’s workforce worldwide.
Raj Sharma, EY’s global managing partner for growth and innovation, emphasized the importance of “Agentic AI” in transforming business operations. He stated that this collaboration will help clients leverage AI technology for actionable insights across tax, risk, and finance sectors. Sharma highlighted that having the right tools and strategies in this AI-driven era is crucial for business success.
Many consulting firms have recently joined forces with Nvidia, recognizing the latter’s role in making AI a reality. Similar to other firms like Cognizant, Accenture, and TCS, EY’s partnership will focus on building and rolling out the EY.ai Agentic Platform, utilizing the full Nvidia AI stack.
According to a press release, the new system will respond to real-time events, adapt to regulatory changes, and support smarter financial and risk decisions across EY’s global operations. The platform will feature over 150 AI agents that will assist 80,000 EY professionals, improving productivity and simplifying complex compliance tasks.
Initially, EY plans to use these AI agents to enhance Sales and Use Tax compliance processes, with future expansions to other tax services, such as R&D and tax notices. These agents will automate critical tasks like data collection, analysis, and document review, while also managing important deadlines and preparing responses for regulatory inquiries.
This initiative follows a challenging period for EY in 2024, marked by financial struggles and a conflict of interest scandal in Australia. The firm announced job cuts in its UK and US divisions as a response to slow consulting work. In 2025, EY’s UK wing will reduce its workforce further, cutting permanent partner roles and jobs in its consulting and legal sectors.
As EY positions itself as a modern firm ready to adopt innovative technologies like AI, it remains to be seen if clients will be satisfied with the increased reliance on AI agents in their services.
Tags: EY, Nvidia, AI agents, consulting firm, technology partnership.
What is the partnership between EY and Nvidia about?
EY and Nvidia have teamed up to create smart ‘AI agents’ that can help improve their services. They aim to use advanced AI technology to work faster and give better support to clients.
How will AI agents benefit EY’s clients?
The AI agents will help clients by providing quicker responses and more accurate insights. They can handle tasks like data analysis, which saves time and resources.
What types of services will be enhanced with AI?
Services like consulting, auditing, and tax advisory will be enhanced. The AI agents will analyze large amounts of data to help EY deliver better recommendations and solutions.
Are there any risks with using AI agents?
Yes, there can be risks, like data privacy issues or relying too much on AI. However, EY is committed to ensuring that the technology is used responsibly and securely.
When can we expect to see these AI agents in action?
Although specific dates are not mentioned, EY plans to roll out these AI agents soon. They aim to integrate them into their services gradually to benefit clients quickly.