Artificial intelligence has quickly made the transition from a future technology to one that surrounds us in our everyday lives. From taking better pictures to predicting what we will say next in an email, AI is being built into the products and services we use each day to transform our lives for the better but how will this emerging technology affect the future of work?
To better understand the growing role AI is playing in the lives of both businesses and consumers, TechRadar Pro spoke to EY’s Global Chief Innovation Officer Jeff Wong.
- The future of work in the age of AI
- AI is transformational for businesses of all sizes
- The regional gap in AI adoption
What does the role of “chief innovation officer” actually entail? What is your role within the business?
As EY Global Chief Innovation Officer, my job is to create ‘new.’ That means everything from creating new services to creating new ways we should deliver those services, to thinking about how people and processes and business models need to change within the context of the environment.
I’m focused on transforming EY for the future and I am committed to making our people superheroes. What do I mean by that? We’re continuously evolving and using data, automation and AI to make our employees – better, faster, stronger – and they love it!
How does EY see itself as a leader in encouraging technology innovation in its business?
EY is more than a professional services organization – we’re also a data powerhouse with connectivity to c-suites around the world. We’re a leader in innovation because we invest in learning how to make technologies work at scale and share this knowledge with our clients. We understand that initial pilots don’t always lead to results, but we work to find solutions that ultimately lead to success.
Are there any particular areas of technology that your team is focusing on in 2019?
We continue to focus on expanding our automation and AI initiatives, especially after we saw AI’s ability to significantly improve efficiency- doing things faster and with more accuracy. Last year we saved 2.1 million hours of our people’s time by automating repetitive tasks. We were able to repurpose and reinvest these hours back into our business.
One example of how we are using AI is to help review contracts. In our first 90 days of effort, we were three times faster and better at analyzing these contracts. We’ve gotten even better since then. This frees up our people to focus on more meaningful questions, including the risks associated with them.