An EY AI leader at the New York Stock Exchange unveils strategies to harness potential while addressing ethical concerns and workforce readiness.


In brief
  • The New York Stock Exchange recently hosted a significant discussion on artificial intelligence, featuring insights from Dan Diasio, EY Global Consulting AI Leader.
  • Diasio emphasized the importance of a strategic approach to AI, focusing on internal transformation and ethical governance.
  • The conversation highlighted the urgency for organizations to innovate and adapt in the face of evolving AI technologies.
  • As businesses embark on their AI journeys, the need for executive engagement and commitment to investment is paramount.

At the New York Stock Exchange, Diasio outlined how EY teams are leading the charge in artificial intelligence (AI) transformation. “Before we advise our clients, we needed to introspect and transform our own business practices,” he stated. This client-first approach has led to the creation of a comprehensive playbook designed to guide organizations through their AI initiatives, so they are equipped to navigate the evolving landscape.

One of the standout revelations from this journey was the essential role of executive engagement. Diasio noted, “It took significant involvement from our executives to not only understand AI but to be prepared to implement it effectively.” This proactive engagement is vital for organizations aiming to leverage AI’s potential while addressing its inherent challenges.

 

Despite being in the early stages of AI adoption, many organizations are already experiencing substantial returns on their investments. “A staggering 97% of organizations report positive ROI from their AI initiatives,” Diasio highlighted, pointing to benefits in operational efficiency and employee productivity. He emphasized that organizations investing over 5% of their total budget in AI are seeing even greater returns, illustrating the importance of commitment in this area.

 

As businesses embark on their AI journeys, they encounter challenges such as infrastructure limitations and AI fatigue. Diasio suggested that a well-defined strategy is crucial for overcoming these hurdles. “We conduct exercises with clients to simulate their P&L, identifying the best opportunities for competitive advantage,” he explained. This strategic alignment means that AI initiatives are closely tied to overall business goals.

Ethical governance of AI is another pressing concern. With the European Union’s AI Act coming into effect, organizations must prioritize compliance and self-regulation. Diasio remarked, “The ultimate judge of your AI ethics will be your consumers. They will determine if your AI practices align with their ethical standards.” This underscores the need for businesses to act proactively rather than waiting for regulatory mandates.

As we look toward the future, Diasio predicts that 2025 will mark a significant shift in AI capabilities. “2023 was about experimentation, 2024 will focus on scaling, and by 2025, we will see AI systems that can take actions on behalf of users,” he explained. This evolution will require organizations to rethink their operational strategies and embrace disruptive thinking.

Summary 

The insights shared during this discussion at the New York Stock Exchange highlight the urgency for businesses to adapt to the rapidly changing landscape of artificial intelligence. By investing in strategic transformation, ethical governance and innovative thinking, organizations can position themselves for success in an AI-driven future.

About this article

Related articles

Prepare your data for success

CDO roadmap: Is your data AI-ready? Leverage your business data for AI success. | Find out more.

03 Mar 2025

How to maximize your AI investments now and in the future

Enhance AI capabilities with data infrastructure, ethical governance, and strategic talent management to drive enterprise success.

10 Feb 2025 Traci Gusher

How AI agents will take GenAI from answers to actions.

AI agents know when to start a series of actions and complete them. Here are three ways to prepare today as the technology matures. Learn more.

15 Nov 2024 Dan Diasio + 1