quick shot:

• The APAC Technology Lab will provide engineering capabilities focused on rapid prototyping and product development.
• The laboratory will act strategically as a center for technological development, experimentation, and application in the region.
• It will also raise the innovation potential of businesses and customers through cutting-edge technologies including artificial intelligence, 5G and Web3.

EY today announced the official opening of the EY APAC Tech Lab, a new engineering lab and incubator in Shenzhen, China.

As an agile unit focused on Asia-Pacific, the lab will play a critical role in strengthening EY’s technology portfolio in the region, strategically acting as a hub for technology development, experimentation and application.

The Lab is the latest addition to EY’s global network of innovation hubs designed to cultivate cutting-edge technology incubation and research and development in key technology markets around the world.

In October, EY announced that the EY wavespace, a global network that gives clients the ability to bring teams together, has expanded into the metaverse, increasing the network’s ability to help clients co-innovate and address any business challenge.

EY APAC’s technology lab will focus on rapid prototyping and product development, offering a broad range of engineering capabilities to meet the unique needs and opportunities of the Asia-Pacific market.

According to Forrester, the Asia-Pacific technology market is expected to grow 6.2% this year to reach $675 billion. The lab aims to harness the power of emerging technologies, including artificial intelligence (AI), augmented reality (AR), virtual reality (VR), blockchain, 5G and Web3 to serve EY businesses and clients.

The lab team consists of 30+ AI engineers, data scientists, UX/UI designers, blockchain cryptographers, and 5G and Internet of Things (IoT) professionals. The team is already working on several projects, including a Web3-based healthcare data analytics model that is compliant with Distributed Identity (DID) specifications to help run ethical, authenticated, and compliant medical data analytics in collaboration with major pharmaceutical companies.

“The APAC Tech Lab is an exciting frontier for global innovation capabilities across the EY organization. In addition to the EY Advanced Tech Lab in Palo Alto, California, this strategic expansion to Shenzhen helps further advance another of the world’s bustling innovation hubs, where cutting-edge technologies are developed, refined and applied,” said Jeff Wong, EY global director of innovation

The EY organization will continue to invest in technology initiatives with a commitment of $10 billion over three years, including the ongoing construction of additional regional technology hubs to help clients drive long-term business value and empower technology-enabled transformation. .

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