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EY and ServiceNow have expanded their strategic alliance to offer robust solutions for generative AI (GenAI) compliance, governance, and risk management.

Initially targeting the digital transformation of finance and tax services, the deepened alliance aims to optimize AI oversight and governance and help organizations meet regulatory requirements.

Through tight collaboration, the organizations will deliver a suite of solutions that includes AI discovery, inventory management, policy enforcement, risk classification, and automated monitoring — all slated for release during Q1 2024.

Featured Partners: Managed Service Provider (MSP) Software

Redefining GenAI governance through collaboration

ServiceNow and EY have shared a rich history, having delivered solutions across domains such as risk management, global business services, supply chain oversight, and technological advancement. Stemming from their joint initiative in December 2021 to revolutionize finance and tax services, both entities will tailor solutions for the financial services, manufacturing, and life sciences sectors.

Carmine Di Sibio, EY Global Chairman and CEO, highlighted the significance of this partnership, emphasizing its role in addressing the transformative potential of AI. “One topic dominates the C-suite agenda in 2024 — the transformative potential offered by AI. The challenge many clients face is implementing appropriate governance when adopting the technology. Together, the EY organization and ServiceNow will help organizations confidently turn AI risk management and regulatory compliance concerns into opportunities to drive business value.”

Bill McDermott, ServiceNow Chairman and CEO, echoed this sentiment, emphasizing the collaborative effort to empower customers with GenAI solutions. “EY is shoulder-to-shoulder with ServiceNow to take costs out, put productivity in, and accelerate growth for our customers. Our partnership will enable the adoption of GenAI on the ServiceNow platform at unprecedented speed.”

Driving GenAI governance and compliance

At the core of this alliance lies a shared commitment to advancing GenAI governance and compliance to new heights. With AI’s transformative potential reshaping industries, the need for robust governance frameworks has never been more critical. EY’s AI Governance and Compliance solution integrated with ServiceNow’s Now Assist GenAI capabilities offers a comprehensive suite of tools to effectively navigate AI risk management challenges.

This collaboration builds upon the longstanding partnership between ServiceNow and EY, rooted in a shared commitment to innovation and excellence. From risk management to finance and tax services, and now extending into GenAI governance, EY and ServiceNow are poised to shape the future of Gen AI by fostering ethical and transparent business practices.

How EY and ServiceNow’s AI solutions bring value to the channel

The alliance offers organizations the tools and expertise to successfully navigate the complexities of AI adoption. By leveraging the new solutions, channel partners and MSPs can enhance their service portfolios and position themselves as trusted advisors who can empower their clients to harness the full potential of AI while ensuring regulatory compliance and ethical business practices.

If you’re just getting started on your AI journey, take along our complete guide to building an AI strategy for MSPs. And get more tips on getting “pre-AI-ready” in your business from Network Solution Provider USA’s CEO, Phillip Walker, in this episode of Partner POV with Katie Bavoso.