EY US partners with AI firm Stratio BD to drive transformations
Accounting and consulting firm EY US has formed an alliance with Stratio BD, an artificial intelligence (AI) platform company. EY teams will use the platform to help businesses apply AI directly to operations and data.
Amid booming demand for enterprise applications in Big Data, Stratio BD has rapidly grown from a team of 15 engineers, designers, and consultantsin in 2014 to 200 in 2017, with offices in the US, Spain, Colombia, and Brazil. The company’s Big Data platform, Stratio Data Centric, bundles the power of machine learning, graph-based tools, data processing, and real-time streams into a single, intuitive product.
The platform allows enterprise clients to apply AI and analyze, visualize, and interpret data through a simple visual dashboard. The end result is accurate, real-time information that helps firms improve their internal decision-making.
Big Data and analytics, according to prevailing industry sentiment, can create competitive advantage for firms across industries, if implemented correctly. That is, until everybody’s doing it – in which case it cancels itself out. That point is a long way off, however, as it’s mostly big, tech-inclined companies jumping into resource-intensive AI augmentation and Big Data transformations, although consulting and tech firms are also pushing solutions for small- and medium-sized businesses.
Stratio BD has now entered into an alliance with Big Four firm EY US to help businesses of all sizes “transform into technology organizations powered by data and artificial intelligence,” according to a release from EY. Stratio will provide the tech platform, and EY US will deliver its consulting expertise across strategy, innovation, data, AI, and operations, with more than 9,000 data scientists on hand. There are also plans to expand the alliance to further EY member firms outside the US.
“For enterprises, every transaction is an opportunity to learn, and the Stratio platform captures the data as well as the customer journey and builds intelligence simultaneously, because AI is built right into those transactions and operations,” Beatriz Sanz Saiz, EY global data analytics leader, advisory, said. “We are thrilled to establish this strategic alliance with Stratio, which represents a significant disruption in the market, as businesses of all sizes transform into technology organizations with a new center of gravity at their core: data and AI.”
Firms across industries have already leveraged the Stratio platform to enhance their operations. A financial services company is using the platform to digitally onboard customers quickly and without human intervention, with AI elements customizing better execution paths for each customer. A utilities firm, meanwhile, can use the platform to map hundreds of prediction models in operational data and consumption in order to find the best performing business model.
"Digital giants already have data intelligence and AI embedded into their companies, and the knowledge gained rules their processes, because their applications learn and become smarter with every interaction,” Oscar Méndez Soto, CEO and founding partner of Stratio BD, said. “Our Stratio platform can help companies move to the same paradigm – AI at the core – starting with small, step-by-step use cases with clear business impacts and a focus on business objectives.”
