-- APAC Tech Lab to provide a wide range of engineering capabilities focused on 
   rapid prototyping and product development
-- Lab to bolster EY technology solutions in the Asia-Pacific market and 
   strengthen synergies around the world
-- Elevates business and clients' innovation potential through leading-edge 
   technologies including artificial intelligence, 5G and Web3

EY announces today the official opening of the EY APAC Tech Lab ("Lab"), a new, 
state-of-the-art incubator and engineering lab in Shenzhen, China, to meet the 
unique needs of the growing Asia-Pacific market through rapid innovation. As an 
agile, Asia-Pacific-focused unit, the Lab will play a pivotal role in 
strengthening the EY technology portfolio in the geographic area, strategically 
acting as a hub for technological development, experimentation, and application.

The Lab is the newest addition to the global EY network of innovation centers 
designed to cultivate leading-edge technological incubation and research and 
development in key technology markets throughout the world. In synergy with EY 
innovation platforms and products, the EY APAC Tech Lab was created with the 
vision of addressing clients' diverse needs in today's complex geopolitical 
landscape.

Strategically located in Shenzhen, China, the Lab will focus on rapid 
prototyping and product development, offering a wide range of engineering 
capabilities catering to the unique needs and opportunities of the Asia-Pacific 
market. According to Forrester ( 
https://c212.net/c/link/?t=0&l=en&o=3735222-1&h=3256147556&u=https%3A%2F%2Fwww.itnews.asia%2Fnews%2Fasia-pacific-tech-market-to-grow-by-62-percent-to-us675-billion-in-2022-576021%23%3A%7E%3Atext%3DThe%2520Asia%2520Pacific%2520technology%2520market%2520is%2520expected%2520to%2Cbillion%2529%2520as%2520governments%2520reopen%2520economies%252C%2520according%2520to%2520Forrester.&a=Forrester 
), the Asia-Pacific technology market is expected to grow by 6.2% this year to 
reach US$675b. 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 elevate the innovative potential of EY 
businesses and clients.

Now in full operational swing with more than 30 AI engineers, data scientists, 
UX/UI designers, blockchain cryptographers, and 5G and internet of things (IoT) 
professionals, the Lab is already working on several leading-edge projects with 
various EY teams across the globe to address real world business problems. 
These initiatives include:

-- An advanced data analytics platform co-innovated with a leading telecoms 
   operator in Asia-Pacific that employs clustering, supervised machine 
   learning, and deep automation methods to generate rich and precise customer 
   insights from telecoms data, allowing customers to receive a more 
   personalized and improved experience.
-- A prototype to automate the data integration and estimation of Scope 3 
   carbon emissions reporting, completed with science-based targeting data 
   models and an AI-powered predictive sandbox. This will allow enterprises to 
   progress their net-zero ambitions by embedding forecasting, target-setting 
   and sensitivity analysis capabilities into their carbon calculations.
-- A Web3-based health care data analytics model that is supported by 
   Distributed Identity (DID) specifications to help run compliant, 
   authenticated, and ethical medical data analyses in collaboration with major 
   pharmaceutical companies.

Patrick Winter, EY Asia-Pacific Area Managing Partner, says:

"I am thrilled about the immense potential that the APAC Tech Lab brings to EY 
teams' ability to leverage the strategic value of this diverse technological 
frontier with promising avenues for innovation. This Lab will bolster the 
global tech profile of the EY organization so it can compete in today's complex 
market landscape. Continuing to introduce emerging technologies and build 
robust innovation pipelines as a digital-first and future-forward organization 
will help address clients' most pressing challenges."

Jeff Wong, EY Global Chief Innovation Officer, says:

"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 to further advance 
another of the world's bustling innovation centers, where leading-edge 
technologies are being developed, refined and applied. Under the leadership of 
Steve Lo, EY Asia-Pacific Area Innovation Leader, we look forward to seeing the 
APAC Tech Lab develop and become an epicenter of creative ideas and 
technological ingenuity that will support EY teams and help deliver impactful 
solutions for clients throughout the region."

The EY organization will continue to invest in technology initiatives with a 
commitment of US$10b over three years, including the ongoing build-out of 
additional regional technology hubs to help clients drive long-term business 
value and power tech-supported transformation. For more information on EY 
Global Innovation capabilities, please visit 
https://www.ey.com/en_gl/innovation.

Notes to Editors

About EY

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SOURCE  EY

CONTACT: Stephanie Kruczek, EY Global Media Relations, +1 512 542-7761, 
stephanie.kruczek@ey.com