EY and ServiceNow to provide solutions for GenAI compliance, governance and risk management

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The EY organization and ServiceNow, a leading digital workflow organizations making the world work better for everyone, have announced an expansion of their strategic alliance to provide solutions for generative AI (GenAI) compliance, governance and risk management. The EY organization will also use ServiceNow’s Now Assist GenAI capabilities to bring enhanced experiences to EY professionals and clients. These new AI solutions seek to amplify EY capabilities on ServiceNow’s risk management solutions.

“One topic dominates the c-suite agenda in 2024 – the transformative potential offered by AI,” said Carmine Dr Sibio, EY Global Chairman and CEO. “The challenge many clients face is putting appropriate governance in place when adopting the technology. Together, the EY organization and ServiceNow will help organizations confidently turn AI risk management and regulatory compliance concerns into opportunities to drive business value. We are excited to broaden our collaboration with ServiceNow and continue growing our alliance relationship by collaborating on this game changing technology.”

“GenAI has inspired the imagination,” said Bill McDermott, chairman and chief executive officer at ServiceNow. “EY is shoulder-to-shoulder with ServiceNow to take costs out, put productivity in, and accelerate growth for our customers. Our partnership will enable the adoption of Gen AI on the ServiceNow platform at unprecedented speed.”

The newly developed offerings are expected to improve the management and governance of AI, driving proper compliance with regulatory requirements, and promote ethical, transparent, and accountable business practices. This includes the EY AI Governance and Compliance solution, providing businesses with a suite of essential capabilities including AI discovery and inventory management, policy management and implementation, risk tiering, and automated monitoring. The new offerings are expected to be available in the first quarter of 2024.

The EY organization will also use ServiceNow generative AI capabilities across IT and HR business functions. This includes deployments of IT Service Management (ITSM) PRO+, HR Service Delivery (HRSD) PRO+, and Now Assist generative AI tools, helping enable enhanced employee experiences across more than 400,000 EY professionals.

ServiceNow and the EY organization have a longstanding collaboration history providing offerings in areas such as risk, global business services, supply chain and manufacturing management, and technology innovation. The expanded alliance builds on ServiceNow and the EY organization’s announcement in December 2021 to transform finance and tax service. EY and ServiceNow teams also plan to increase focus on additional offerings into 2024 for specific industries including Financial Services, Manufacturing and Life Sciences.

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