Ernst & Young (EY) is expanding its EY wavespace network of global growth and innovation centers, with a new center in Singapore. EY wavespace in Singapore focuses on the disruptive technologies of intelligent automation, including artificial intelligence, machine learning, blockchain and robotic process automation, among other digital capabilities.
The center seeks to combine EY insights in disruptive technologies with deep industry domain knowledge and market experience. The centre is created to help companies innovate and transform their businesses for growth opportunities in the Asia Pacific region. The Singapore center is one of 18 flagship EY wavespace centers worldwide.
Max Loh, EY Asean and Singapore managing partner, Ernst & Young LLP explained that Singapore is a strategic location for EY’s investment and the centre will play a big role in "driving greater digital agility in Singapore-based businesses, as the country seeks to develop an innovation-driven economy and entrench itself as the commercial and financial hub for businesses spring-boarding into the region."
According to Loh, EY wavespace centers, each have a particular focus on market-specific technologies and industries. Loh says: “Through wavespace, we hope to contribute to the cross-pollination of ideas and transfer of knowledge to drive the capability development of talents in digital, creative and experience design – skills that are becoming highly relevant in the thriving digital economy in Singapore and across Southeast Asia.”
Will Duckworth, EY Asia-Pacific Digital Leader, said increasingly, organisations in Asia Pacific are driving the world’s most exciting innovations that will transform businesses and ultimately society to deliver great efficiencies and benefits. "New technology is shaping the way local and international companies do business, and international collaboration and connection are key to help them succeed in a fiercely competitive and disruptive world,” he said.
Singapore is one of the most established financial hubs in Asia Pacific and this places it at the epicenter of new innovation and connectivity in the region. However, the region also presents unique challenges such as cross-border complexity in terms of regulation, varying level of political maturity, technological development and advancement. EY wavespace in Singapore will leverage EY industry experience and local insights, and is designed to enable businesses to take advantage of the emerging growth opportunities across the region.