London-headquartered EY and a global leader in accounting and advisory services has made a significant AI push. The global giant recently announced setting up its first Artificial Intelligence (AI) Center in India, with an aim of “building a better working world”. According to Milan Sheth, Partner – Advisory Services and Technology Sector Leader, EY India, “The Center is dedicated to help organizations find new ways to deploy new technologies across a range of functions in their business environment and build a better digital workforce for the future.”
The proposed AI centre, to come up in Mumbai will combine expertise in robotics, machine learning and the solutions will be deployed across automotive, telecom and technology. According to industry watchers, strong growth in 2016, especially in the UK and US market, winning major audit deals with Airbus, Hershey among others was a major push for ploughing significant investment in AI. Reportedly, EY made 26 strategic acquisitions last year and have had made open its AI ambitions. Achieving solid results amid a difficult business environment spurred the global accounting leader to scale up technology investment.
Reportedly AI and robotics has been increasingly embedded in every organization. It will change how we work, how our clients work, and how we serve them, noted Tony Steadman, EY Americas Leader for Total Talent Supply Chain. AI has already changed how professionals work in the tax industry and AI and robotics can lead to better, quicker results. It will also dish up automated tax advice to clients. AI will also automated low-level, form based work.
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Richa Bhatia is a seasoned journalist with six-years experience in reportage and news coverage and has had stints at Times of India and The Indian Express. She is an avid reader, mum to a feisty two-year-old and loves writing about the next-gen technology that is shaping our world.