EY launches platform to enhance market and business insights
The big four firm has announced the launch of its cloud-based proprietary intelligence platform, EY Competitive Edge.
EY has developed its own AI-powered, cloud-based platform to generate real-time tailored insights on markets, companies and sectors at pace.
The firm said EY Competitive Edge was designed to transform the landscape of strategic decision making by harnessing the power of multiple sources of data and the latest generative AI technology to help deliver insights.
EY global strategy and transactions chief innovation officer, Tony Qui, said the new platform would help organisations and leaders navigate multiple data layers in the complex business landscape.
“EY Competitive Edge helps clients do just that, offering the opportunity to collate, explore and interrogate a rich set of data and insights, and make better, more informed organic and inorganic strategic decisions,” Qui said.
“EY Competitive Edge reflects a continued commitment to provide innovative solutions that help clients stay at the forefront of technology to gain competitive advantage.”
According to the firm, the platform integrated EY proprietary property with an array of external data sources, including credible external databases, company reports and publicly available information.
The platform better equipped EY teams to provide clients with precise, tailored solutions using comprehensive data layers and real-time insights.
EY global vice chair, Andrea Guerzoni, said the new platform would tie in with existing EY platforms such as EY Diligence Edge and EY Capital Edge.
“EY Competitive Edge supports front-end strategic discussions with clients across all aspects for their growth strategy,” Guerzoni said.
“In merger and acquisition scenarios it helps clients to process vast amounts of data – from newsfeeds to real-time investments – to uncover insights that help narrow down potential acquisition targets.
“Used in tandem with other EY M&A technologies, it could help transform the deal process from strategy to execution.”
EY said the platform was developed on an AI-driven engine that integrated Microsoft AI technologies and leveraged Microsoft’s Azure OpenAI, AI Search and Azure Cosmos DB to enhance data harmonisation and facilitate sector-specific data querying.
The firm said it hoped this design would lead to rapid and highly relevant insights, as well as being user-friendly for intuitive data interaction.
Microsoft vice president Northeast US, Lydia Smyers, said the platform announcement marked another milestone in the longstanding relationship with the EY organisation.
“The collaboration is a powerful combination of the EY organisation’s industry-leading capabilities and Microsoft’s advanced data and AI platforms,” Smyers said.
“Together, we are helping businesses to leverage deep insights that drive innovation and strategic growth.”
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