EY has invested $1.4 billion in a new AI platform. 

Professional services giant EY has made a significant $1.4 billion investment in artificial intelligence (AI) and unveiled its EY.ai platform, ushering AI-powered versions of its consulting solutions into the business sphere. 

The move positions EY alongside competitors such as KPMG and Accenture, who are also heavily banking on AI as their next major growth catalyst.

The EY.ai platform boasts AI-infused iterations of the firm's renowned products, including the widely-used data management tool, EY Fabric, which serves over 60,000 clients.

Carmine Di Sibio, EY Global Chairman and CEO, stated; “AI's moment is now. Every business is considering how it will be integrated into operations and its impact on the future.”

EY says it is committed to equipping its workforce with AI skills and is set to launch EY.ai EYQ, a substantial language model (LLM) that underpins generative AI systems. 

Their strategic partnership with Microsoft grants them early access to Azure OpenAI capabilities, including GPT-3 and GPT-4.

Additionally, EY has forged alliances with tech and information industry leaders such as Dell, SAP, and Thomson Reuters to invest in and explore the potential applications of the technology.