EY Law

EY Law

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Law
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HROperationsRisk ManagementPredictive AnalyticsDocument Management
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NLPGenerative AI
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EY Law Revolutionizes Legal Services with AI Powered Solutions

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Background

EY Law is spearheading a revolution in legal services through its groundbreaking integration of artificial intelligence. Powered by the innovative EY.ai platform, which represents a bold $1.4 billion investment, EY Law is redefining the boundaries of legal technology. At the heart of this transformation is EYQ, a proprietary large language model that combines cutting-edge AI capabilities with human expertise. EY Law's strategic embrace of AI goes beyond mere adoption; the firm is actively shaping the future of legal practice by developing crucial principles for responsible AI use in the legal domain. This forward-thinking approach demonstrates EY Law's commitment to leveraging AI not just for efficiency, but to fundamentally enhance the quality and scope of legal services, positioning the firm at the forefront of the AI-driven legal revolution.

Executive Summary

  • EY's groundbreaking $1.4 billion investment in EY.ai represents a bold commitment to AI leadership, positioning the company at the forefront of technological innovation.
  • At the heart of EY.ai lies EYQ, a sophisticated large language model, seamlessly integrated with cutting-edge technologies to deliver unparalleled AI solutions.
  • EY Law has taken a pivotal role in shaping the ethical landscape of AI in legal practice, developing comprehensive guidelines that set industry standards for responsible AI usage.
  • Strategic partnerships with tech giants Microsoft and Dell Technologies have significantly amplified EY.ai's capabilities, fostering a powerful ecosystem of AI-driven solutions.
  • Beyond technological advancements, EY demonstrates a holistic approach to AI integration by prioritizing workforce development, ensuring its team is equipped with the skills needed to thrive in an AI-driven future.

Problem

EY Law's approach to AI integration is a comprehensive strategy that goes beyond mere technological implementation. The firm has deployed EY.ai, a sophisticated platform that seamlessly blends AI capabilities with human expertise. This initiative represents not just a technological advancement, but a strategic move to embed AI across various business functions, including strategy formulation, transaction management, and risk assessment. Crucially, EY Law recognizes that successful AI integration hinges on workforce readiness, and has thus prioritized employee upskilling to ensure responsible and effective AI utilization.

Solution

EY Law's AI deployment is a meticulously crafted process centered around the EY.ai platform. This cutting-edge system integrates EYQ, EY's proprietary large language model, with an array of advanced AI technologies. The platform's design focuses on synergizing AI capabilities with human expertise across diverse business domains. To support this integration, EY has launched an extensive upskilling program, which goes beyond technical training to foster a culture of responsible AI usage. Since 2018, the firm has awarded over 100,000 credentials in AI and data analytics to its employees, underscoring its commitment to continuous learning in the AI era.

The implementation phase has been bolstered by strategic partnerships with tech giants like Microsoft and Dell Technologies, granting EY Law early access to state-of-the-art AI tools. These collaborations have significantly enhanced EY.ai's capabilities, cementing the firm's position at the forefront of AI innovation. Furthermore, AI has been seamlessly integrated into EY Fabric, the organization's global technology infrastructure, enabling the deployment of AI-driven solutions such as the EY Intelligent Payroll Chatbot. This integration has led to substantial reductions in employer workload by efficiently handling complex payroll queries.

EY Law has also developed new Assurance technology capabilities, including AI-enabled tools for risk assessment, predictive analytics, and document intelligence. These advancements demonstrate how AI can revolutionize traditional business processes and drive operational efficiency to new heights.

Impact

The implementation of AI at EY Law has yielded remarkable results, significantly enhancing both client service quality and operational efficiency. The introduction of AI-driven tools, exemplified by the EY Intelligent Payroll Chatbot, has led to a substantial reduction in employer workload by streamlining complex employee queries with unprecedented efficiency and accuracy. In the realm of EY Assurance, the integration of AI has facilitated advanced risk assessment and predictive analytics, marking a quantum leap in analytical capabilities. These AI-driven advancements have not only improved response times to business transformation challenges but have also set new industry benchmarks for leveraging technology in legal services.

Change Management

The adoption of AI in a global organization of EY's scale presents multifaceted challenges. These include ensuring the responsible and ethical use of AI across all operations, seamlessly integrating AI into existing systems without disruption, and equipping the workforce with the necessary skills to effectively leverage AI technologies. EY Law's approach to these challenges demonstrates a commitment to holistic and responsible AI adoption.

Roadmap

EY Law's future in AI is bright, characterized by ongoing investments in AI research and strategic collaborations. The firm remains focused on expanding its AI capabilities, further enhancing client services, and contributing to the responsible evolution of AI in the legal sector. At the core of EY's strategy is an unwavering commitment to building a better working world through innovative, AI-driven solutions, positioning the firm as a leader in the AI-powered future of legal services.

Publications:

Legal tech teams turn to AI to advance business goals

EY announces launch of artificial intelligence platform EY.ai following US$1.4b investment