EY, the global professional services organization, and ServiceNow, the leading digital workflow company, have expanded their strategic alliance to provide solutions for generative AI compliance, governance, and risk management. This collaboration aims to help organizations effectively navigate the challenges of adopting AI technology by establishing proper governance and regulatory compliance measures. By leveraging ServiceNow’s Now Assist GenAI capabilities, the EY organization plans to enhance experiences for both its professionals and clients.
The strategic alliance between EY and ServiceNow seeks to address the transformative potential of AI, which has become a dominant topic on the C-suite agenda in 2024. Carmine Di Sibio, EY Global Chairman and CEO, emphasized the importance of putting appropriate governance in place when adopting AI technology. The collaboration between the EY organization and ServiceNow aims to turn AI risk management and regulatory compliance concerns into opportunities for driving business value.
Bill McDermott, Chairman and CEO at ServiceNow, expressed enthusiasm for the partnership, highlighting how GenAI has inspired innovation. McDermott emphasized that EY and ServiceNow are committed to driving cost reduction, productivity enhancement, and accelerated growth for their customers. The partnership will enable the adoption of GenAI on the ServiceNow platform at an unprecedented speed.
The newly developed offerings from EY and ServiceNow aim to enhance the management and governance of AI, ensuring compliance with regulatory requirements and promoting ethical, transparent, and accountable business practices. One of these offerings is the EY AI Governance and Compliance solution, which equips businesses with essential capabilities such as AI discovery and inventory management, policy management and implementation, risk tiering, and automated monitoring. These new solutions are expected to be available in the first quarter of 2024.
In addition to the AI-focused solutions, the EY organization will also leverage ServiceNow’s generative AI capabilities across its IT and HR business functions. This includes deployments of IT Service Management (ITSM) PRO+, HR Service Delivery (HRSD) PRO+, and Now Assist generative AI tools. By utilizing these tools, the EY organization aims to enhance employee experiences for its over 400,000 professionals.
The expanded alliance builds on the longstanding collaboration between ServiceNow and the EY organization in various areas such as risk management, global business services, supply chain and manufacturing management, and technology innovation. This collaboration follows their joint announcement in December 2021 to transform finance and tax services. Moving forward, EY and ServiceNow plan to further their focus on delivering industry-specific offerings, particularly in the financial services, manufacturing, and life sciences sectors.
Overall, the expanded alliance between EY and ServiceNow demonstrates their commitment to leveraging AI technology for improved compliance, governance, and risk management. By providing clients with innovative solutions and enhanced employee experiences, EY and ServiceNow aim to drive business value and help organizations capitalize on the transformative potential of AI.
