EY and Microsoft Sign Agreement to Promote AI Adoption in Singaporean Organisations

Singapore, August 8, 2024 — Professional services firm Ernst & Young Advisory Pte. Ltd. (EY) has expanded its agreement with Microsoft to enhance collaboration to expedite the integration of artificial intelligence (AI), including generative AI (GenAI), into enterprise functions. This alliance leverages EY’s extensive business and industry expertise alongside Microsoft’s AI and cloud solutions, enabling organisations to make data-driven decisions more effectively.

By harnessing the synergies between data, AI, and key business functions such as finance, procurement, customer experience, and human resources (HR), companies can boost operational efficiency by up to 50%, enhance agility, and drive innovation for growth.

As part of this initiative, EY will invest in upskilling its 500 consulting professionals in Singapore, along with an anticipated annual intake of 100 new hires.

Liew Nam Soon, EY’s ASEAN Regional Managing Partner and Singapore and Brunei Country Managing Partner, stated, “Our commitment to support the national AI skilling and scaling agenda is steadfast. One of our priorities is to continually develop a pipeline of AI talent that not only benefits our clients and our profession but also enhances the global competitiveness of our talent pool, preparing them for a digital future economy.”

EY has recently been recognised as Microsoft’s Country Partner of the Year, Partner of the Year for Business Transformation and AI Innovation, and Partner of the Year for Security.

Liew added, “These accolades underscore our strong partnership with Microsoft in addressing the complex transformation needs of organisations. We are dedicated to collaborating more closely with Microsoft to design and deliver transformative AI solutions that will significantly enhance local business operations, develop digital workforce capabilities, and bolster Singapore’s reputation as a trusted global AI hub and regional gateway.”

Lee Hui Li, Managing Director of Microsoft Singapore, remarked, “Microsoft is delighted to collaborate with EY to transform organisations across Singapore through Microsoft Copilot and Microsoft Azure OpenAI Service. EY is advancing in the AI era, and their commitment to upskilling their workforce for rapid digital progress showcases their leadership. By redefining workflows and building intelligent ecosystems with EY clients, we aim to drive innovation, productivity, and sustainable growth, helping businesses remain competitive and future-ready.”

Revolutionising Core Business Operations

AI is swiftly disrupting traditional isolated operations, integrating them into intelligent ecosystems powered by automation, data-driven insights, and personalisation.

The EY-Microsoft collaboration will focus on embedding AI into four functional areas: finance, procurement, customer experience, and HR.

Gaurav Modi, EY ASEAN and Singapore Consulting Leader, said, “Prioritising AI, and increasingly GenAI, across front- to back-office functions ensures seamless integration, elevating customer experiences while optimising internal processes. This creates a coherent data-driven ecosystem where enhanced service delivery aligns with efficient operations, driving overall business performance, productivity, innovation, and a competitive edge to deliver sustainable value and growth.”

According to the EY CEO Outlook Pulse survey released in December 2023, which included responses from 1,200 global CEOs (40 from Singapore), CEOs worldwide acknowledge AI’s potential but face challenges in implementing related strategies. While about two-thirds of CEOs are aware of the need for quick action, many of them face obstacles due to this domain’s uncertainties.

Modi added, “Many organisations hesitate to integrate AI into business operations due to skill gaps, uncertain returns on investments, technology integration challenges, and a limited understanding of AI capabilities and benefits. We aim to help organisations bridge this gap between AI intentions and actions, accelerating their transformation journeys. Organisations can look to leading enterprises already implementing AI and data transformation for confidence in their own initiatives.”

Case Studies

One example is Keppel Ltd. Mannjot Singh Mann, Group Chief Digital Officer, Keppel Ltd, stated, “As a leading global asset manager and operator, Keppel has ambitious goals to grow funds under management to SGD 200 billion and achieve a 15% return on equity by 2030. Key enablers include our enterprise-wide AI and data transformation efforts, where we have developed a proprietary AI platform. This platform combines an AI engine that enhances our market understanding with another AI engine that evaluates target companies, providing insights and efficiencies across our infrastructure, real estate, and connectivity segments. We are building our own capabilities and collaborating with partners such as EY and Microsoft, leveraging Microsoft’s platforms and EY’s expertise built on EY.ai.”

Mercedes-Benz Singapore provides another example. Gaurav Suman, General Manager – IT Sales, Mercedes-Benz Singapore, commented, “At Mercedes-Benz Singapore, our IT Sales team has integrated AI into our software development lifecycle (SDLC) to transform retail sales. Facing operational bottlenecks such as inaccuracies in code documentation and software release management, EY’s expertise and Microsoft’s Azure OpenAI have significantly improved the accuracy of code documentation and unit test case generation. This success has led us to design a scalable AI framework across the SDLC. We plan to embed AI in five more core processes, emphasising the transformative potential AI holds in revamping traditional business procedures.”