#033a Special Feature - EY Unlocks The Power Of AI With A $1.4 Billion Investment And A Proprietary LLM.
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AI BYTE # 📢 - EY Unlocks the Power of AI with a $1.4 Billion Investment and a Proprietary Large Language Model
⭐ EY, one of the world’s leading professional-services firms, has invested $1.4 billion in AI over the past five years and developed its own Large Language Model (LLM), EY.ai EYQ, to help its clients and employees leverage the power of AI.
EY’s AI Platform: EY.ai
EY.ai is a comprehensive AI platform that includes new and existing EY products that have AI embedded in them, such as EY Fabric, which helps companies manage their data.
The platform also has a library of use cases that provide a path for how companies can safely and effectively deploy AI at scale. The use cases cover various domains, such as risk, governance, data management, tax, audit, and consulting.
EY.ai is designed to help companies answer the question: Where do I even start with AI?
According to Andy Baldwin, EY Global Managing Partner, Client Service, this is one of the main challenges for many companies, as they have different levels of maturity and readiness for AI adoption7. EY.ai aims to provide a holistic and tailored solution for each client’s needs.
EY’s Large Language Model: EY.ai EYQ
One of the most impressive achievements of EY’s AI investment is the creation of its own large language model (LLM), EY.ai EYQ.
An LLM is a type of AI model that can generate realistic text and images based on natural language inputs. Some examples of LLMs are OpenAI’s GPT-4, Google’s BERT, and Facebook’s BART.
EY.ai EYQ is trained on publicly available data from the internet but can be used in a safe and secure way. This means that customers don’t need to worry about their data being exposed or compromised by using the model.
Moreover, EY plans to train the model on its own library of data, and create a series of use-specific LLMs, such as an LLM trained on tax data.
EY.ai EYQ can help EY’s clients and employees with various tasks, such as generating insights, summaries, reports, recommendations, and predictions based on natural language inputs. For example, an Auditor can use EY.ai EYQ to generate an audit report based on the financial statements of a company.
EY’s AI Workforce: 400,000 Employees
Another key aspect of EY’s AI strategy is to train its entire global workforce of 400,000 employees on AI. Baldwin said that over 5,000 employees have already begun the training in the previous week. The training covers topics such as AI fundamentals, ethics, applications, and tools.
The goal of the training is to equip EY’s employees with the skills and knowledge to use AI effectively and responsibly in their work. By doing so, EY hopes to enhance its service quality, efficiency, and innovation.
Final Thoughts
EY has shown its commitment and leadership in AI by investing $1.4 billion in the technology and developing its own large language model.
By creating a comprehensive AI platform, a customized LLM, and an AI-trained workforce, EY has positioned itself as a trusted partner for its clients in their AI journey.
If you are interested in learning more about EY’s AI offerings and how they can help your business, please visit their website or contact them directly.
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