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EY expands innovation network for "radical breakthroughs"

Enables clients to address industry-specific and cross-sector opportunities

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The EY wavespace innovation centre in Madrid, part of the company's expanding network
The EY wavespace innovation centre in Madrid, part of the company's expanding network

EY has announced EY wavespace, a new global network of growth and innovation centres to identify and build specific disruptive growth strategies and technologies.

 

The multi-million dollar investment programme, will see EY increase its current network of 15 locations by adding nine new centres in the Americas, Europe, the Middle East and Asia Pacific regions over the next year.

 

The centres expand EY’s existing network of innovation centres developed to help clients face the challenges and opportunities of continuous change, digitisation and disruption.

 

All locations feature a shared methodology and platform that combines EY’s experience in areas including disruptive technologies such as artificial intelligence, robotics process automation (RPA), blockchain, data analytics, digital, customer experience and cyber security, and its deep industry domain and regulatory experience.

 

“Organisations face continuous disruption at an increasingly fast pace, so senior business leaders are passionate about driving change to stay competitive,” said Norman Lonergan, global vice chair, advisory services, EY.

 

“Many believe in radical transformation as the path forward to achieve their business objectives, but they don’t necessarily know how to start. The EY wavespace network encourages clients to be fearless about identifying dramatic ideas that could ultimately lead to dramatic breakthroughs.”

 

For example, EY professionals at locations in the wavespace network have so far:

 

Developed more than 50 business processes enabled by blockchain technology for customers in the financial services sector, including an identity management platform that provides more secure and efficient onboarding of customers and identifies potential;

 

Helped an automotive OEM develop new mobility services, including premium and on-demand taxi services, smart parking and ride-sharing, and ran market-test pilots in major cities worldwide;

 

Created an innovation pop-up lab for a financial services client to drive development and deployment of new technologies, products and services, and business models across the organisation.

 

“Through our connected network of EY wavespace centers, we help clients have differentiated, eye-opening experiences because they can access capabilities and knowledge anywhere in the world,” added Jeff Wong, global chief innovation officer, EY.

 

“This immersive environment and entrée to thought leaders across industries, academia, research and entrepreneurs will help traditional companies imagine future business models and different ways of working.”

 

The new centres will be located in Amsterdam; Atlanta; Mexico City; New York (Chelsea); Santa Monica (Silicon Beach), California; São Paulo; Trivandrum, India; and Toronto. Each centre has a range of technology and market focus, with dedicated teams of multi-disciplinary practitioners in disruptive innovation to help create a new market or a new way of creating value.

 

 

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