Consulting firm EY has launched EY wavespace – a global network of growth and innovation centers to help clients leverage the next wave in major breakthroughs in business transformation by tapping into innovative thinking across EY disciplines, experience and industry sectors.
EY wavespace comprises of the flagship centers which are focused on specific disruptive growth strategies and technologies impacting industries. The wavespace centers expand EY’s existing network of innovation centers developed to help clients face the challenges and opportunities of continuous change, digitization and disruption.
EY said that all locations feature a shared methodology and platform that combines its experience in a number of areas. This includes disruptive technologies such as artificial intelligence, robotics process automation (RPA), blockchain, data analytics, digital, customer experience and cyber security, and EY’s deep industry domain and regulatory experience.
“Organizations face continuous disruption at an increasingly fast pace, so senior business leaders are passionate about driving change to stay competitive. 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”, Norman Lonergan, EY Global Vice Chair, Advisory Services, said.
EY further said that it will increase its current network of 15 locations by adding centers in the Americas, Europe, the Middle East and Asia Pacific regions over the next year. The new centers will be located in Amsterdam; Atlanta; Mexico City; New York (Chelsea); Santa Monica (Silicon Beach), Calif.; São Paulo; Trivandrum, India; and Toronto.
“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. 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”, Jeff Wong, EY Global Chief Innovation Officers, said.
In order to support an integrated approach across the wavespace network, EY has set up a Founders Council comprising senior leaders from acquisitions by member firms and network alliances and across EY. As a result, clients can benefit from the intellectual property EY firms have gained through inorganic growth. Wavespace centers also include convergence sessions, where clients from disparate industries share experiences and knowledge.
“The wavespace network is a significant evolution in EY’s role as an orchestrator of digital providers. Our digital and innovation strategy starts from the premise that no single organization can maintain digital capability and expertise across all the new digital platforms. Instead, we are helping clients draw on the ‘network multiplier’ effect of platform-driven ecosystems. And besides access to technology, we are providing clients avenues to knowledge from our digital collaborators and opportunities to build vital new relationships”, Richard Suhr, EY Global Digital Leader, Advisory, said.