EY, ServiceNow Boost Alliance For AI Compliance

EY and ServiceNow , prominent in digital workflow and enhancing global work efficiency, have broadened their strategic partnership. This expansion focuses on delivering solutions centered around generative AI (GenAI) for compliance, governance, and risk management. EY will integrate ServiceNow’s Now Assist GenAI features to elevate experiences for both EY staff and clients, further enhancing EY’s use of ServiceNow’s risk management tools.

Carmine Di Sibio, EY Global Chairman and CEO, highlighted the pivotal role of AI in 2024’s executive discussions. “AI’s transformative power is at the forefront,” he said. “Our clients often struggle with implementing effective governance for this technology. In collaboration with ServiceNow, EY aims to transform concerns around AI risk management and regulatory compliance into strategic business opportunities. We’re eager to deepen our partnership with ServiceNow and leverage this groundbreaking technology.”

Bill McDermott, ServiceNow’s chairman and CEO, shared his enthusiasm. “GenAI has captured our imagination,” he remarked. “Working alongside EY, we aim to reduce costs, enhance productivity, and spur growth for our clients. This partnership promises rapid adoption of Gen AI within the ServiceNow ecosystem.”

The upcoming offerings are designed to refine AI management and governance, ensuring compliance with legal standards and fostering ethical, transparent, and accountable business operations. This includes the EY AI Governance and Compliance solution, a comprehensive suite offering AI discovery, inventory management, policy execution, risk classification, and automated monitoring. These services are expected to launch in the first quarter of 2024.

Furthermore, EY plans to implement ServiceNow’s generative AI tools across IT and HR operations. This will involve the application of IT Service Management (ITSM) PRO+, HR Service Delivery (HRSD) PRO+, and Now Assist generative AI technologies, aiming to improve experiences for over 400,000 EY professionals.

The extended alliance between ServiceNow and EY builds upon their previous collaboration dating back to December 2021, which aimed to revolutionize finance and tax services. As they continue to innovate, both organizations are looking to enhance their offerings in 2024, particularly in sectors like Financial Services, Manufacturing, and Life Sciences, further cementing their long-term collaborative relationship in various domains including risk, global business services, supply chain, manufacturing management, and technological innovation.