Global professional services company EY has announced plans to spend $1 billion to develop cloud-based platforms and managed service offerings intended for both the public and private sectors.
EY said Sunday the two-year investment effort will support the creation of technology products, client services, innovation programs and the company’s ecosystem across the software, audit, cyber, digital tax, financial and risk management areas.
“In this transformative age, businesses and governments are under significant pressure to not only keep pace, but get ahead of the vast disruption and technological change,” said Mark Weinberger, EY chairman and CEO.
“We see enormous opportunities in helping clients address these challenges and stay ahead of the technology curve,” Weinberger added.
He noted the company has introduced multiple services over the past year in efforts to help clients apply blockchain to marine insurance, automate royalty payments and use drones to monitor inventories.
EY also appointed Nicola Morini Bianzino, former lead of Accenture‘s artificial intelligence practice, as chief client technology officer and named financial services industry veteran Steve George as CIO.