- Focus on collaboration with EY technologists, business strategists, designers
- Flagship innovation centers will facilitate business transformation in Asia-Pacific
- Technology-driven innovation set to drive the next wave of global economic growth in the region
The EY wavespace™ flagship center has been launched in Hong Kong, expanding the EY Asia-Pacific rollout of the global innovation network.
The new wavespace center provides a platform for businesses to access the global EY 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:
“The new centers will contribute to maintaining the region’s competitive edge as a commercial and financial hub, facilitating large businesses to be more nimble and creative, and helping to boost the startup ecosystem. The centers will collaborate with companies to increase their competitiveness by challenging 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 global network of EY wavespace centers brings together the EY experience in disruptive technologies – such as artificial intelligence (AI), robotic process automation (RPA), blockchain, data analytics and cybersecurity – and deep industry domain and regulatory experience. The Hong Kong opening follows the launch of wavespace centers this year in Shanghai, Singapore and Sydney. EY wavespace flagship centers were also recently opened in Antwerp, Berlin and Dubai, each playing a key role 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 wavespace centers act as supporter to strengthen the innovation capabilities of Asia-Pacific businesses.”
The new opening in Hong Kong brings the number of globally connected flagship centers to 19 in total worldwide, helping clients across the globe to explore innovative new ideas to successfully navigate their businesses through the transformative age.
Collaboration around new technology helps to unlock transformative opportunities
Wavespace centers offer numerous opportunities to collaborate with EY professionals – ranging from a one-day immersion workshop to long-term projects, to “pop-up” centers brought directly to clients’ locations – through which companies can explore solutions and service offerings, as well as co-develop new business models and commercial opportunities.
EY professionals in the wavespace centers have collaborated with clients to produce innovations that include:
- Developing 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.
- Helping an automotive original equipment manufacturer develop new mobility services, including premium and on-demand taxi services, smart parking and ride-sharing, and running market-test pilots in major cities worldwide.
- Creating 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 EY talent across Asia-Pacific with new skills, investing in creative and experienced design talent across the region.”
For more information about EY wavespace, please visit ey.com/wavespace.
Notes to Editors
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.