Transformation Realized™

Consulting at EY is building a better working world by realizing business transformation through the power of people, technology and innovation.

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The transformation imperative is urgent, challenging and opportunity-rich

Leaders are reframing their businesses to adapt to a new landscape by innovating their business model, elevating their customer experience, and finding new ways to leverage data and technology. This demands a careful balance: sustaining performance while investing in the skills, technologies and resources to accelerate growth and create new opportunities.  

Maximize the success of your transformation

While speed and change are imperatives, businesses can’t afford for their transformation to fail. Those who succeed do more than prosper — they create exponential value that lasts. What we have seen from companies that create exponential value is that they place humans at the center of their organization, leverage technology at speed and innovate at scale.

Know where to invest your efforts to drive value

These new drivers of value creation demand a fundamental shift both in how companies reorient to create value and in what they value — agility versus predictability; innovation versus strategic planning; systems thinking versus operating model.

It’s a transformative mindset that also requires the parallel processing of multiple, interdependent time horizons: 70% of effort now to build a foundation for future growth; 20% of effort on new value propositions and optimizing existing capabilities for 12 months from now; and 10% of effort on exploring completely new and disruptive opportunities for the future.

Live your purpose and confront bold decision-making to reframe your future

In times of change, companies that experience exponential growth take what we call a “future-back” approach. Leading organizations start by asking, “Will my business still be relevant in 2, 5 or 10 years’ time from now? And how can I grow our competitive advantage with bold and informed decision-making?”

With their purpose as a central guide, they explore the future and their vision, working through future-back scenarios that can flex and adapt, following a path to maintain relevance today — and 15 years from now.

EY can turn your transformation ambitions into reality

Consulting at EY is building a better working world by realizing business transformation through the power of people, technology and innovation. Putting humans at the center, deploying technology at speed and innovating at scale form the core of value creation of our Transformation Realized™ approach.

Transformation Realized can help you enhance your ability to adapt and create more agility in your operating model to deliver inclusive growth to drive long-term value. It can help you understand and connect with customers through richer experiences, and leverage and deploy new technology faster. It can inspire and engage your employees, and help to build the next generation of transformation leaders with a clear and powerful purpose, enabled by productive and engaging cultures. Transformation Realized can also help you mitigate constant threats and remain relevant while developing the capacity for continuous business reinvention and innovation.

EY has the breadth of capabilities, experience and technologies and a proven track record to turn transformation ambitions into reality. From strategists to designers and engineers, from data scientists and technologists to people advisory, from risk to cyber to tax, EY can guide you through the entire lifecycle of your transformation in a way few organizations can match.

CEO agenda

Explore further actionable insights on the unique challenges of the CEO role.

 

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Case Study
The better the question The better the answer The better the world works
Case Study

How blockchain helps the public see the truth in the story

“Fake news” threatens trust in the media and democracy. EY and Agenzia ANSA are helping to maintain and restore it.

Case Study
The better the question The better the answer The better the world works
Case Study

How can readers trace the source of their news?

In the last five years, “fake news” stories with malicious intent have proliferated. How can we trace the source of our news?

Fake news threatens trust in media. Research by MIT Media Lab found that “lies disseminate farther, faster, deeper, and more broadly than the truth and falsehoods are 70% more likely to be retweeted than the truth.”1 On a wider level, disinformation “diminishes the quality of democracy. It saps trust in democratic institutions, distorts electoral processes and fosters incivility and polarization online,” according to an EU report.2

Truth vs falsehood in media

70%

more likely for falsehood to be retweeted than the truth.

For the traditional media, fake news poses a threat to the legitimacy of the stories that news agencies write and distribute, which can undermine the reputation that news agencies and outlets are keen to sustain and preserve.

One such agency is Agenzia Nazionale Stampa Associata (ANSA), the #1 news agency in Italy.3 Headquartered in Rome, ANSA, whose members and owners are leading news organizations, has a mission to give readers access to news reporting with traceable, transparent sources.

ANSA wanted to take a stand and innovate their way of working and promoting content to preserve their legacy in the industry, providing their readers a warranty of their quality.

They asked, “How can we ensure transparency in the origin of the news we read?”

How blockchain helps the public see the truth in the story
Case Study
The better the question The better the answer The better the world works
Case Study

Use technology unexpectedly to innovate business

EY teams identified a new territory where blockchain could provide support, with wide-ranging impact.

ANSA approached EY with the objective of creating an innovative solution to support tracking of the origin of their stories, and for that story to be traced through its entire history of updates and reposts on third-party news websites.

EY teams proposed using blockchain, which is typically used to prevent tampering in financial transactions and to track assets. With a deep understanding of the applications and technology, the team wondered, “Why couldn’t blockchain apply to news stories too?”

To put this to the test, EY teams built a proof-of-concept using the EY OpsChain Traceability solution. When an editor publishes a news story it’s fed into the system automatically, with its ID and publication details in a block that is made immutable through notarization on blockchain. (ANSA can also push a modification event in case of any changes or corrections that need to be made post-publication.) When a story is published online, it is given an “ANSACheck” sticker and readers can click on this to see who has written it and potentially republished it.

EY teams and ANSA also created an opportunity to publicize the blockchain solution as part of a live neuroscience experiment at wavespace™ in Rome. EY teams connected different stakeholders – from policymakers to academic institutions – to discuss the social and economic impact of fake news and to test their perception of news stories. ANSA used an Implicit Association Test (IAT) and eye tracking to monitor the emotional reactions of 50 volunteers to five real and five fake news stories, and revealed which stories had provoked the greatest reactions.

From this, EY teams provided ANSA with a report outlining the test’s results and detailing what type of content, images and story length best engages an audience and drives sharing – techniques which distributors of fake news are highly skilled at deploying. 

EY teams and ANSA also developed examples of leading practice writing and page-build approaches for various subject areas, which can be shared with ecosystem partners to increase the quality of their news, furthering the reach and raising the profile of bona fide stories.

People looking confused while reading
Case Study
The better the question The better the answer The better the world works
Case Study

Making news transparent

The market has received the solution well, and it has performed as untruths circulated, especially around COVID-19.

The proof-of-concept results led to ANSA deciding to scale the solution across its whole online business and discussions about expanding it beyond.

ANSACheck reaffirms trust in the news and the value of professional journalism. It enables readers to confirm that news origins are true and trusted, and drives a deeper understanding of the news process – which is particularly relevant if a story is controversial.

The solution has also enabled ANSA to create a new ecosystem-based business model with built-in trust, extending to each partner, which helps protect the reputations of multiple media brands. It also makes it more difficult for fake news to be shared; if a story is tampered with, it loses the ANSACheck sticker, and in doing so its validity cannot be assured.

The solution developed could be scaled and applied globally, and EY teams have had numerous inquiries from other news media companies worldwide.

Soon after launch, ANSACheck really came into its own during the first months of the pandemic. Lots of fake news stories about vaccines and treatments for COVID-19 were circulating, and many readers asked about the origin of some stories that mentioned ANSA as a source. ANSA was able, through ANSACheck, to confirm that the source of the stories was not authentic.

Overall, ANSACheck helps protect, deepen and re-affirm readers’ trust in the news. Which aligns perfectly to ANSA’s purpose of being a trusted source for news. The leveraging of blockchain technology also helps build a better working world.

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EY wavespace™

At EY wavespace, we reimagine what’s possible for business. We help teams to reframe their thinking and find answers – faster.

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