Ernst & Young LLP (EY) announced on Wednesday the launch of its new Union Square Innovation Center in New York City. According to the company, the center will focus on financial services and is a flagship location for EY wavespace, its global growth an innovation network. It was also revealed that the center would serve as a hub for the Suits+Jeans approach to innovation, which combines business experience with specialists in industries such as fintech, blockchain, artificial intelligence (AI), robotics, and data analytics.
“When suits and jeans functions come together, they can unlock an institution’s ability to innovate and fundamentally change the way organizations do businesses. We are excited to serve as a nexus for these encounters. Our Union Square Innovation Center is a place for experimenting with new ideas, pushing boundaries, and truly industrializing innovation.”
Anthony Caterino, Vice Chair and Regional Managing Partner for the Financial Services Organization, Ernst & Young LLP, then noted:
“Disruption is a daily reality for organizations today, and it requires a new way of thinking about innovation – one that we are enabling by bringing together our diverse talent and sector knowledge at Union Square and throughout our network. Our ability to collaborate closely with clients on their most complex innovation challenges, marshaling resources from across our organization, is what will allow us to continue to win and maintain our position of leadership in an era of digital enterprise-driven transformation.”
EY added that the center also illustrates its commitment to building a better working world.