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EY announces launch of artificial intelligence platform EY.ai following US$1.4b investment
- EY investment has provided the foundation to launch EY.ai, a new unifying platform to help organizations confidently adopt artificial intelligence (AI)
- Developed over the past 18 months, EY.ai combines vast business experience with AI embedded in EY technology platforms and solutions
- Roll out of EY.ai EYQ, a large language model, in addition to upskilling AI learning and development for EY people
LONDON, Sept. 13, 2023 /PRNewswire/ — The global EY organization (EY) today announces the launch of EY.ai, a unifying platform that brings together human capabilities and artificial intelligence (AI) to help clients transform their businesses through confident and responsible adoption of AI. EY.ai leverages leading-edge EY technology platforms and AI capabilities, with deep experience in strategy, transactions, transformation, risk, assurance and tax, all augmented by a robust AI ecosystem.
EY investments of US$1.4b have provided the foundation for the EY.ai platform. These investments have supported the embedding of AI into proprietary EY technologies like EY Fabric, used by 60,000 EY clients and more than 1.5 million unique client users, as well as helping secure a series of EY technology acquisitions with supporting cloud and automation technologies.
Carmine Di Sibio, EY Global Chairman and CEO, says:
“AI’s moment is now. Every business is considering how it will be integrated into operations and its impact on the future. However, the adoption of AI is more than a technology challenge. That’s why EY teams help clients identify how to capture the transformative power of AI from every seat at the boardroom table and across the enterprise. It’s about unlocking new economic value responsibly to realize the vast potential of this technological evolution.”
Placing people at the center of AI
EY is helping to realize the potential of EY people with AI knowledge and skills. Following an initial pilot with 4,200 EY technology-focused team members, the global organization will be releasing a secure, large language model called EY.ai EYQ. In addition, EY will roll out bespoke AI learning and development for EY people.
The EY comprehensive learning program elevates and expands the AI skills of EY people, including the responsible use of AI. It builds on the extensive AI, data and analytics learning badge curriculum and credentials introduced in 2018, with over 100,000 credentials awarded to date, as well as the EY Tech MBA launched in 2020.
Convening an AI ecosystem
EY.ai brings together an AI ecosystem encompassing a range of business, technological and academic capabilities in AI. This includes leading-edge alliances with some of the world’s most innovative organizations, including Dell Technologies, IBM, Microsoft, SAP, ServiceNow, Thomson Reuters and UiPath – as well as other emerging leaders that are defining the future of AI.
Building on the existing strategic alliance, Microsoft has provided the EY organization early access to Azure OpenAI capabilities, such as GPT-3 and GPT-4. With support from Microsoft and leveraging Azure OpenAI Services, EY teams are building and deploying advanced Generative AI solutions to enhance EY service offerings.
The EY-Dell Technologies alliance invests jointly in AI-focused capabilities, including Dell Generative AI Solutions, a set of Dell products and services simplifying the adoption of full-stack generative AI with LLMs, meeting organizations wherever they are in their generative AI journey; clients can prototype and deploy use cases on a validated architecture of purpose-built hardware, software, and embedded security optimized for generative AI.
With Thomson Reuters, EY is expanding and will serve as a transformative force by combining content and insights across tax, law, global trade, and environmental, social and governance (ESG) services, and accelerating the co-development of new, AI-driven solutions and services.
Andy Baldwin, EY Global Managing Partner – Client Service, says:
“Empowered by a significant number of data and AI professionals, EY.ai is poised to unlock the full spectrum of knowledge and insights that EY teams can provide to companies aiming to revolutionize their operations with AI. Importantly, this is a collaborative endeavor. The EY alliance ecosystem plays a pivotal role in linking clients with the most advanced technology, infrastructure and proficiency available today. As EY.ai merges the capabilities of EY ecosystem collaborators with AI-enhanced teams, the aspiration is to deliver an unparalleled level of excellence in client service.”
Anchored by AI-powered solutions and services
EY.ai will be underpinned by the EY.ai Confidence Index which leverages industry-leading practices for risk, governance and data management to deliver comprehensive AI evaluation and monitoring. The Index will be complemented by the EY.ai Maturity Model which systematically reviews where an enterprise stands compared to market and industry peers, and the EY.ai Value Accelerator, which helps to prioritize initiatives and solutions for the greatest strategic impact and growth.
EY.ai will also put AI capabilities into the hands of EY teams and 1.5m users globally by embedding generative AI and leading-edge development tools into EY Fabric, the organization’s award-winning global technology backbone that powers 80% of the US$50b EY business. This will help client serving teams to respond faster to global business transformation priorities.
EY.ai also follows numerous AI solutions and services, including:
- EY Intelligent Payroll Chatbot, piloted in March with Microsoft, answers complex employee payroll questions, personalizes the employee experience and expects to help reduce the burden on employers by more than 50%.
- The recent release of 20 new Assurance technology capabilities across the EY organization includes globally scaled AI. This AI enabled capability – leveraging publicly available and EY generated data – is directly integrated with the EY Assurance technology platform to support EY Assurance professionals in assessing risk. EY Assurance is also introducing new AI enabled capabilities in predictive analytics; content search and summarization; and document intelligence, including financial statement tie-out procedures.
Nicola Morini-Bianzino, EY Global Chief Technology Officer, says:
“EY.ai reflects the culmination of work and knowledge that the EY organization has been building for a decade. The AI capabilities that EY teams have built and work with clients to date further validates that AI is transformative. I am highly confident that a human-centered approach to transformation using AI will empower EY people, enhance the quality of client work and ultimately change our working world for the better.”
AI credentials and research
EY and the University of Southern California’s School of Advanced Computing are in active discussions regarding a joint-research opportunity. This follows a US$1b Frontier of Computing initiative launched by the university, with a focus on advancing AI technology guided by ethics and responsibility.
A creative campaign to capture how our diverse skills will be augmented through AI
The launch of EY.ai will be supported by a new integrated marketing program built around the creative theme of ‘The Face of the Future’. Spearheading the campaign is advertising that features EY people augmented and empowered by AI – to highlight multiple EY services that will increasingly be AI empowered. Anchored in EY’s purpose of Building a Better Working World, the overall campaign will bring to life how the EY.ai platform can help clients and society at large build confidence, help create exponential value and make a positive human impact. Media is scheduled to go live across all channels in October.
Visit ey.ai for more information.
About EY
EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.
Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
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FORNEBU, Norway, Jan. 15, 2025 /PRNewswire/ — Reference is made to the announcement by Aker Horizons ASA (“Aker Horizons” or the “Company”) on 9 January 2025 regarding fixed income investor meetings and a potential new bond issue. The Company has met a broad range of investors and experienced strong interest from the market.
The Company has received valuable feedback, which it will evaluate as part of the ongoing process to optimize the Company’s overall capital structure. Accordingly, the Company will not pursue a potential bond offering at this time.
Aker Horizons has a robust liquidity position and benefits from strong support from its main shareholder and creditor Aker ASA. The Company is committed to its strategy of developing green energy and green industry.
For further information, please contact:
Stian Andreassen, Investor Relations, Tel: +47 41 64 31 07
[email protected]
Mats Ektvedt, Media, Tel: +47 41 42 33 28
[email protected]
About Aker Horizons:
Aker Horizons develops green energy and green industry to accelerate the transition to Net Zero. The company is active in renewable energy, carbon capture and sustainable industrial assets. As part of the Aker group, Aker Horizons applies industrial, technological and capital markets expertise with a planet-positive purpose to drive decarbonization globally. Aker Horizons is listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Across its portfolio, the company is present on five continents. www.akerhorizons.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
IMPORTANT INFORMATION
This communication is not an offer to sell or purchase, or the solicitation of an offer to sell or purchase, any securities, or the solicitation of a proxy, in any jurisdiction in which, or to any person to whom, such offer, sale or solicitation is not authorized or would be unlawful.
This communication contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and other statements, which are not statements of historical facts. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “will be” and similar expressions. You are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, and that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward -looking information and statements contained herein. The forward-looking statements in this communication speak only as of the date hereof and, other than as may be required by applicable law, the Company does not undertake any obligation to update or revise any forward-looking information or statements.
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https://news.cision.com/aker-horizons/r/fixed-income-investor-meetings—update,c4091958
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LONDON and NEW YORK, Jan. 15, 2025 /PRNewswire/ — In March 2020, several of the largest institutional holders of sovereign bonds issued by Lebanon formed a group (the “Ad Hoc Group”) in response to the deteriorating financial and economic situation in the country and the government’s decision to default on its international bonds. The Ad Hoc Group’s stated objective from the outset has been to find a sustainable and equitable solution to Lebanon’s severe debt challenges. The Ad Hoc Group is supported by White & Case LLP as legal advisor.
The intervening years have witnessed a further decline of Lebanon’s political, economic and security situation, which has prevented any meaningful engagement with the Lebanese authorities. Despite the lack of progress to date, the Ad Hoc Group continues to provide a forum for coordination and communication among international bondholders, and remains prepared to engage constructively with the Lebanese authorities and other domestic and international stakeholders.
In this regard, the Ad Hoc Group is encouraged by the recent election of Joseph Aoun as President of Lebanon and nomination of Nawaf Salam as prime minister, and looks forward to the formation of a new government that will have the mandate to address the many challenges facing the country.
The Ad Hoc Group also takes note of last week’s statement of the Council of Ministers of Lebanon relating to the proposed suspension of Eurobond prescription periods until 9 March 2028, and confirms its willingness to discuss the implementation of the proposed suspension with the authorities and, at the appropriate time, to engage more broadly to find a resolution to the longstanding debt default.
Holders of Lebanon’s international bonds who wish to learn more about the Ad Hoc Group and its objectives, or discuss recent developments, may contact White & Case LLP by emailing [email protected].
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Issued on behalf of Oncolytics Biotech Inc.
USA News Group News Commentary
VANCOUVER, BC, Jan. 15, 2025 /PRNewswire/ — As 2025 begins, the American Association for Cancer Research (AACR) recently published forecasts from experts showcasing transformative advances in cancer research, including cutting-edge AI technologies, novel targeted therapies, and innovative cancer vaccines. With over 50 oncology drug approvals in 2024, including the first tumor-infiltrating lymphocyte cell therapy, this year holds great promise for precision medicine and immunotherapy. Amid growing expectations for an active year for biotech stocks in 2025, developers of new cancer therapies are already releasing important developments, with recent news coming from Oncolytics Biotech Inc. (NASDAQ: ONCY) (TSX: ONC), Adaptive Biotechnologies Corporation (NASDAQ: ADPT), NeoGenomics, Inc. (NASDAQ: NEO), Elevation Oncology, Inc. (NASDAQ: ELEV), and ORIC Pharmaceuticals, Inc. (NASDAQ: ORIC).
The article continued: Statista analysts project that the oncology drugs market will generate an estimated revenue of $208.9 billion in 2025. Meanwhile, Global Market Insights reports that the global oncology market, valued at approximately $320.3 billion in 2024, is expected to grow at a compound annual growth rate (CAGR) of 10.8% from 2025 to 2034, reaching $866.1 billion.
Regulatory Approval Clears Path for Oncolytics Biotech® to Advance Promising Pancreatic Cancer Treatment, Following a Review of Safety Data
Oncolytics Biotech Inc. (NASDAQ: ONCY) (TSX: ONC), a leading clinical-stage company specializing in immunotherapy for oncology, today announced that Germany’s medical regulatory body, the Paul-Ehrlich-Institute (PEI), has approved the continuation of patient enrollment into Cohort 5 of the GOBLET study. This cohort is evaluating pelareorep in combination with modified FOLFIRINOX (mFOLFIRINOX) with or without atezolizumab (Tecentriq®) in newly diagnosed pancreatic ductal adenocarcinoma (PDAC) patients.
Following a positive safety review by the independent Data Safety Monitoring Board (DSMB), which recommended continuation, the PEI’s approval allows Cohort 5 to progress to full enrollment. Early safety data will be presented at the upcoming 2025 American Society of Clinical Oncology (ASCO) Gastrointestinal Cancers Symposium later this month, with initial efficacy results expected in the second half of the year.
“Pelareorep has the potential to meaningfully improve outcomes for patients with metastatic pancreatic cancer,” said Thomas Heineman, M.D., Ph.D., Chief Medical Officer for Oncolytics Biotech. “Encouraging tumor response rates observed in an earlier cohort of the GOBLET study underscore pelareorep’s promise in this disease. GOBLET Cohort 5 extends our evaluation by testing pelareorep with a different chemotherapy regimen, mFOLFIRINOX, which broadens the range of pancreatic cancer patients who may benefit from this innovative therapy. Positive results from this cohort may ultimately enable pelareorep to benefit the large majority of metastatic pancreatic patients for whom improved treatment options are badly needed.”
The Phase 1/2 GOBLET study is testing pelareorep, an oncolytic reovirus, in combination with other treatments for advanced gastrointestinal cancers, including pancreatic, colorectal, and anal cancers. Conducted at 17 centers in Germany, the study aims to evaluate response rates, safety, and biomarkers across multiple treatment arms, with promising cohorts advancing to further testing.
AIO is a non-profit organization that evolved from the medical oncology working group within the German Cancer Society (DKG). Dedicated to advancing science and research in medical oncology, AIO has grown into a prominent sponsor and study management company. Over the years, it has established a strong reputation both within Germany and on the international stage for its contributions to oncology research and study development.
Oncolytics Biotech’s work represents a significant step forward in the fight against metastatic pancreatic cancer, addressing a critical need for more effective treatment options in this aggressive disease. By leveraging the innovative potential of pelareorep in combination with established therapies, the company is paving the way for breakthroughs that could transform outcomes for patients and unlock value for investors.
CONTINUED… Read this and more news for Oncolytics Biotech at: https://usanewsgroup.com/2023/10/02/the-most-undervalued-oncolytics-company-on-the-nasdaq/
In other recent industry developments and happenings in the market include:
Adaptive Biotechnologies Corporation (NASDAQ: ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, NeoGenomics, Inc. (NASDAQ: NEO), a leading oncology testing services company, recently announced a multi-year exclusive strategic commercial collaboration that will advance minimal residual disease (MRD) monitoring options for patients with select blood cancers.
Adaptive’s clonoSEQ® is the first and only FDA-cleared test for detecting minimal residual disease (MRD) in lymphoid cancers, while NeoGenomics’ COMPASS® and CHART® offer comprehensive and personalized testing for complex blood cancers. By combining clonoSEQ with these advanced services, oncologists can develop tailored treatment plans, assess patient risk more accurately, and gain real-time insights into disease progression, enhancing care for blood cancer patients.
“As a leader in oncology testing with an extensive menu of precision oncology offerings, NeoGenomics is a natural partner for us,” said Chad Robins, CEO and Co-Founder of Adaptive Biotechnologies. “We are proud of this collaboration, which expands access to the valuable insights that clonoSEQ MRD results offer, ultimately helping more providers and patients benefit from knowing their MRD status.”
Under a new agreement, clinicians using NeoGenomics’ COMPASS diagnostic tool for blood cancers like multiple myeloma, B-ALL, CLL, and DLBCL can now include Adaptive Biotechnologies‘ clonoSEQ Clonality (ID) test at diagnosis to identify patient-specific DNA sequences for ongoing MRD (minimal residual disease) tracking. This integration allows seamless monitoring of disease burden throughout treatment using CHART, giving patients access to clonoSEQ insights and increasing eligibility for clinical trials that rely on MRD testing to guide therapy decisions. All clonoSEQ testing will be conducted at Adaptive’s specialized laboratory, ensuring accurate and consistent results.
Adaptive and NeoGenomics are preparing to implement the infrastructure for their partnership, with cross-promotional efforts expected to launch later this year, though financial terms remain undisclosed.
iBio, Inc. (NYSE-American: IBIO) an AI-driven innovator of precision antibody immunotherapies, in collaboration with AstralBio Inc., recently announced they’ve developed a breakthrough antibody targeting Activin E, a key protein linked to cardiometabolic disorders and obesity. This achievement demonstrates the strength of iBio’s platform in tackling challenging targets and advancing innovative therapies, with plans for rapid testing of this and other candidates in advanced disease models.
“Developing a functional antibody against Activin E, an achievement we believe to be an industry first, is a significant milestone for iBio,” said Martin Brenner, Ph.D., DVM, iCEO and Chief Scientific Officer of iBio. “This breakthrough strengthens our efforts to expand our therapeutics pipeline for the treatment of cardiometabolic disorders and obesity with innovative next-generation solutions.”
Elevation Oncology, Inc. (NASDAQ: ELEV), an innovative oncology company focused on the discovery and development of selective cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs, recently announced program updates and upcoming milestones.
The company is advancing its pipeline with EO-3021, a potentially best-in-class antibody drug conjugate targeting Claudin 18.2 in advanced gastric/GEJ cancer, showing promising early results with a 42.8% overall response rate and a differentiated safety profile. The ongoing Phase 1 trial includes monotherapy and combination studies, with additional data expected in 2025 and 2026, while EO-1022, a HER3-targeting ADC for solid tumors, is progressing toward preclinical data release in 2025 and an IND filing in 2026.
“We are rapidly advancing EO-3021 to address significant unmet needs in treating earlier lines of advanced gastric/GEJ cancer, where we believe we have a unique ability to improve on the standard of care,” said Joseph Ferra, President and CEO of Elevation Oncology. “As we enter 2025, we are honing our focus, leveraging the competitive anti-tumor activity and differentiated safety profile of EO-3021 to explore combination approaches in the first- and second-line settings.”
ORIC Pharmaceuticals, Inc. (NASDAQ: ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of therapeutic resistance, recently provided early Phase 1b combination data for ORIC-944, operational highlights for 2024, and anticipated upcoming milestones.
ORIC-944, a potent PRC2 inhibitor, has shown strong potential in treating metastatic castration-resistant prostate cancer (mCRPC), with deep and durable PSA responses and a favorable safety profile in early Phase 1b combination trials with apalutamide and darolutamide. Alongside advancements in ORIC-114 for NSCLC, ORIC’s 2024 milestones include promising clinical data, strategic collaborations with Johnson & Johnson and Bayer, and a robust cash position expected to support operations into late 2026, positioning the company for continued progress in oncology drug development.
“We made strong progress on multiple fronts in 2024, most notably with the initiation of multiple cohorts for ORIC-114 in NSCLC and ORIC-944 in mCRPC,” said Jacob M. Chacko, M.D., President and CEO of Oric. “We also forged three strategic collaborations with leading pharma partners, strengthened our leadership team to expand functional capabilities, and completed a $125 million PIPE financing, extending our cash runway into late 2026. These accomplishments position us well for 2025 and beyond, with seven anticipated data readouts over the next 18 months as we advance toward potentially initiating registrational studies for ORIC-114 in the second half of 2025 and for ORIC-944 in early 2026.”
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