EY wavespace™ opens in Hong Kong, completing EY’s network of growth and innovation centers across Asia-Pacific

Hong Kong, 8 November 2018

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  • By collaborating with EY technologists, business strategists and experience designers, EY’s four flagship innovation centers in Asia-Pacific will enable business transformation and create business growth opportunities in the region
  • EY believes technology-driven innovation in Asia-Pacific will drive the next wave of global economic growth

EY has launched its EY wavespace™ flagship center in Hong Kong, completing the organization’s Asia-Pacific rollout of its global innovation network. The new innovation center provides a unique platform for businesses to tap into EY professionals across EY’s global network and unleash new growth opportunities in Asia-Pacific – a region widely regarded as the growth engine of the global economy, and positioned to drive further global economic growth through breakthrough innovation.

Patrick Winter, EY Asia-Pacific Area Managing Partner, says:

“EY has accelerated its investment in innovation across Asia-Pacific with the opening of four new wavespace centers because the region is at the heart of unleashing a wave of global growth fueled by technological innovation. The new centers will play an important role to maintain the region’s competitive edge as a commercial and financial hub, enable large businesses to be more nimble and creative, and help boost the startup ecosystem. Our wavespace centers will collaborate with companies to increase their competitiveness by challenging their existing business models, helping them to use wavespace as a platform to take full advantage of technology, and as a place to nurture innovation and inspire talent.”

The EY network of wavespace centers combines EY experience in disruptive technologies such as artificial intelligence, robotics process automation (RPA), blockchain, data analytics, digital, customer experience and cyber security with EY’s deep industry domain and regulatory experience. The Hong Kong opening follows the launch of wavespace centers this year in Shanghai, Singapore and Sydney. EY has chosen to open new centers in these locations as each market has a key role to play as a regional innovation hub.

Winter says: “Increasingly, organizations in Asia-Pacific are driving the world’s most exciting innovations that will transform businesses, and ultimately society, to deliver great efficiencies and benefits. Innovation is not just about adapting to and implementing new technology – it’s about enabling a business and its people to act and operate at the same pace as the world around us. EY acts as a supporter and an enabler to strengthen the innovation capabilities of Asia-Pacific businesses through our wavespace global network.”

The centers launched in Asia-Pacific bring the number of globally connected flagships to 19 centers worldwide, helping clients explore innovative new ideas to successfully navigate the Transformative Age.

New technology and collaboration are at the heart of innovative business transformation to unlock opportunities in Asia-Pacific

Companies can collaborate with EY at the wavespace centers – ranging from a one-day immersion workshop to long-term projects – or at “pop-up” centers brought to clients’ locations, working with EY professionals to explore solutions and service offerings, co-develop new business models and commercial opportunities.

For example, EY professionals at existing locations in the wavespace network have collaborated with clients to produce the following innovations:

  • Develop more than 50 business processes enabled by blockchain technology for customers in the financial services sector, including an identity management platform that provides more secure and efficient onboarding of customers.
  • Help an automotive OEM develop new mobility services, including premium and on-demand taxi services, smart parking and ride-sharing, and ran market-test pilots in major cities worldwide.
  • Create an innovation pop-up lab for a financial services client to drive development and deployment of new technologies, products and services, and business models across the organization.

Winter says: “The ability to create a new and innovative business model depends on the ability to put together new ideas, capabilities or technology. The EY wavespace centers demonstrate how EY is transforming from a traditional professional services organization to a leading technology organization that offers digital solutions to help companies compete across Asia-Pacific. In addition, we’re committed to boosting the talent pool across Asia-Pacific with new skills, investing in creative and experience design talent across the region.”

For more information about EY wavespace, please visit ey.com/wavespace.

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Notes to Editors

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