Evening cottage district, suburbs, drone view. View of the city

Why we need to rethink business models and how we create them

In this episode of the Innovation Realized podcast, Jeff Wray, EY-Parthenon Global Leader, discusses impact of escalating complexity on the business environment and its implications on business models.

In the fifth episode of the Innovation Realized podcast series, Jeff Wray, and host, Will Travis, discuss the importance of not only innovating your business model, but innovating “how” you evolve your business model in a world that necessitates constant change.  

In over 20 years of working extensively with consumer products and retail companies to drive large scale operating change – a sector that has undergone rapid change in an increasingly digitized world – Wray talks about how such organizations are looking to keep one step ahead.  

In terms of keeping ahead in his own sector, Wray shares how EY is developing a comprehensive ecosystem business model to leverage its global reach and capture value from emerging technologies as they develop at speed.

This episode is part of the EY Innovation Realized podcast series by Elevation Barn. It is also available to listen to on Apple Podcasts.

Key takeaways: 

  • Complexity has changed entire business models, and, in turn, made them more complex
  • Plant many seeds of innovation, even though some might not come to fruition
  • Advantage will come to those who develop large language models (LLMs) that incorporate all their intel, from their people to what sits on hard drives
  • Learn to experiment – rethink “how” you innovate your business model
  • Understand where generative AI (GenAI) will generate the most value for your business, and start there
  • Artificial intelligence (AI) is foundational to those early in their careers – harness the hunger, provide the training
  • Develop ecosystem partnerships that enhance your business and keep you one step ahead

For your convenience, full text transcript of this podcast is also available. 


Will Travis
Founder and CEO, Elevation Barn


Episode 5


0h 19m 58s