We are also actively building the EY ecosystem and now have more than 100 ecosystem relationships that keep us on the leading edge of change, help us innovate and execute quickly, and offer ever-evolving services to EY clients.Ĭonfidence in AI is one of the current barriers to AI adoption. We have embedded AI into the EY Canvas audit platform to support risk assessment, and a broader use of AI is helping EY teams challenge the effectiveness of their audit strategy and bring greater confidence and trust to the audit. ![]() ![]() AI is also playing a critical role in our commitment to continuously improve audit quality. This has already fueled new AI capabilities and offerings that are improving how we work with clients. Charting a new course and building confidence in new technologiesįor more than a decade, we’ve embedded AI into many EY global technology solutions and in 2021, we supercharged this with a US$10 billion, three-year investment plan. It is also intended to increase transparency, trust, and confidence in AI as EY seeks to use these new capabilities to serve the broader interests of society and contribute to a more inclusive, equitable future. This unified platform will help enable clients to efficiently access the benefits of AI. For example, we recently brought together all our artificial intelligence (AI) innovation and development efforts under one platform, EY.ai. While Everest did not go forward, it unlocked innovation, identified strengths, and opened new and important conversations with EY clients and regulators.Įverest also identified ways to better pivot the organization and embrace game-changing technologies. Our ambition to create long-term value for clients, EY people and society led us to Project Everest this past year - a bold plan to split the EY organization into two separate organizations so we could address the changing needs of clients, our industry and other stakeholders. We also participate in the United Nations Global Compact, and I confirm that EY reaffirms its support of its Ten Principles in the areas of human rights, labor, environment and anti-corruption. This year, we continue reporting on that progress using the World Economic Forum’s International Business Council (WEF-IBC) Stakeholder Capitalism Metrics. Long-term value creation is now part of our DNA, and I am proud of the progress it has enabled for EY, highlighted in this EY Value Realized 2023 report. In 2019, we formalized our long-term value approach in the EY NextWave strategy and as a result, we’ve achieved 9.5% compound annual growth (FY 2019–2023) and reached nearly US$50 billion in revenue in FY23, a 14.2% increase in local currency. ![]() ![]() Despite these and other pressures, the EY NextWave strategy to create long-term value for all stakeholders, stemming from our purpose of Building a better working world, has been an anchor in an ever-changing world. EY Value Realized 2023 is our annual report on how we’re creating long-term value for our stakeholders – EY people, clients and society.ĭuring my tenure as EY Global Chairman and CEO, I have seen the power of placing purpose and long-term value at the center of an organization’s strategy.Ĭonsider just a few of the challenges we’ve witnessed the past four years: a global pandemic, war in Europe, extreme weather events, geopolitical uncertainties and rapid technological change.
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