Trust and Transparency

Advancing trust in technology to protect vital revenues
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EY and CIONET collaborated to deliver a forum for female CIOs focused on advancing trust in technology to protect vital revenues. During the CIO Circle event they discussed how the turbulence of the modern world, coupled with the move to digital has put greater emphasis on customer trust − be this an employee, business partner, or consumer. CIONET Advisory Board Chair, Maureen Wedderburn believes that trust in tech is vital to business success and is contingent on three key factors:

What to do next …
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EY sponsors of the CIO Circle roundtable event, Lopa Ghosh and Lucy Rosemont, share their summary of valuable takeaways from the discussion:

Trust in technology should be seen as the responsibility of the whole organization. It should be embedded in all operating processes.
People who maintain trust in technology should be at the ‘C’ suite table.
Transparency by design is critical in all aspects of IT applications and systems, especially infrastructure.
Leaders must encourage people across the organization to be vocal about this topic and not be afraid of asking ‘silly’ questions.

Helping clients adopt Generative AI with trust
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EY´s LightUp OpenAI is a framework to help accelerate generative artificial intelligence adoption and transform businesses at speed and scale. Its pillars are threefold: AI and Governance, Platform and Technology, and EY Business and Applications, aiming at building responsible AI-driven solutions that are compliant with AI regulations and avoid biases.

This framework was presented at the Microsoft Envision Europe event, which equipped participants on how to lead in the era of AI; presented by Lillie Harris, leading Microsoft’s Azure strategy and Cloud Solution Priority and Diego Garcia Puado, partner at EY wavespace Data and AI Hub, AI and emerging tech leader.

Importance of building trust in tech roles….

Nora Hamdani is an Executive Director with a background in Banking (Anti Money Laundering, Payment, and Digital) and the Insurance domain- (Life and Non-Life).

Nora has recently led the Life Transformation and Platform Delivery program for an Assurance client, aimed at migrating the life portfolio from an outdated application to a cloud-hosted software package in the client´s ecosystem.

This initiative meant that the team, alongside Nora, had to aid the client in adopting the technology with trust. Nora is proud to have built a strong project management team, with 60% of its members being women from EY.

Anna Caroline Lange is a Senior Consultant in the EY Transaction Strategy and Execution Team in Germany. She joined EY-Parthenon in 2023 after working for several years in the blockchain technology industry.

She has finished an exciting project where EY supported a global payment service provider to build a joint venture with a German bank to offer digital payment solutions to business customers.

Blockchain supports trust in financial services, especially in payments as it helps enable tamper-proof, validated, timestamped cross-border transactions at a lower cost and faster rate. Unlike traditional financial systems, blockchain uses smart contracts which allows two parties to create a binding contract without a third party.

Anna Gozdalik-Coakley is the leader of EY Ireland AI and Data Competency within Financial Services Consulting, where she leads clients in formulating their AI vision and converting it into actionable plans. By understanding their business, challenges and concerns, Anna helps them create their approach to responsibe Ai.

One of the incredible benefits of her role are the learning opportunities it offers, both in terms of structured learning but also participating in initiatives like testing of Microsoft Copilot or participating in the World Summit AI, government bodies, academics, and early adopters. Anna recommends that as with any emerging technology, the rapid deployment of Generative AI necessitates urgent adoption of responsible AI and data frameworks.