During a discussion at the 2024 Milken Institute Global Conference, newly appointed EY CEO Janet Truncale shared insights into the firm’s approach to incorporating artificial intelligence (AI) into its consulting and auditing services. Truncale emphasized that Ernst & Young first tests AI tools internally on its own employees before recommending them to clients, a strategy aimed at enhancing quality assurance and building trust.
EY, one of the world’s largest professional services firms, has been significantly expanding its capabilities in emerging technologies, with AI playing a central role. Speaking to an audience of business leaders and policymakers, Truncale explained that the firm’s in-house AI trials allow it to better understand the tools’ performance, practical implications, and potential risks before external deployment.
“We always start by piloting these technologies through what we call EY@EY, which means we first apply the innovation internally,” said Truncale. “It helps us really understand how to use the tools appropriately, monitor for unintended consequences, and ensure that we’re recommending technology that we have deep insight into.”
This internal-first approach reflects a growing trend among top firms to ensure accountability and reliability in deploying AI-powered services. The evaluation process includes examining the ethical implications, potential biases, impact on productivity, and results accuracy before tools are rolled out to client projects.
Truncale also highlighted the broader implications of AI for the professional services industry, noting that while automation can improve efficiency, it also necessitates new types of workforce training and adaptability. By testing AI within EY’s own practice areas, the firm aims to lead by example in managing this technological transition responsibly.
EY is not alone in this approach. As client demand for AI-driven solutions increases, many consulting firms are taking similar steps to validate emerging technologies internally, ensuring they are not only functional but aligned with corporate standards and values.
Janet Truncale, who officially took over as EY’s Global Chair and CEO in July 2024, has placed a strong emphasis on tech innovation and digital transformation as pillars of the firm’s growth strategy. Her comments at the Milken Conference suggest that EY plans to remain at the forefront of AI integration while maintaining rigorous oversight to uphold the firm’s reputation and client trust.
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