EY opens Wavespace centre in Beijing to support tech innovation
EY has launched a Wavespace centre in Beijing – one of over 40 such innovation and tech focused workspaces around the world. The new centre will focus on a host of advanced technologies, including the role of 5G in the future of life and business in China.
EY’s Wavespace locations are human-centred design and collaboration hubs that act as a meeting point between digital experts and innovation-focused clients. EY employees from a host of service lines come together in the Wavespace, to deliver a multidisciplinary transformation experience.
Focus areas include advanced technology such as artificial intelligence, analytics, blockchain, customer experience, cyber security, internet of things and robotics – among a host of others. According to Paul Cheung, EY’s Greater China lead for the Telecom, Media and Technology practice, 5G will play a key role in the new centre.
“The Beijing Wavespace flagship center focuses on the industrial trend and business applications of 5G technology, which means how 5G may become a new normal in our life and the business environment, how to empower digitalisation and drive internet of things in the commercial scene, and how to empower smart cities to drive digital transformation of the whole society and economy,” he said.
China is a global leader in the 5G landscape – supported by Shenzhen-headquartered telco Huawei’s expansive network infrastructure worldwide. Reports suggest that 5G could bring an annual boost of $6 billion to the Chinese telecom landscape by 2025, with imminent adoption and application of the next generation technology across society and business.
From its new Wavespace location, EY will leverage its vast digital expertise to help businesses realise this potential, while also supporting broader advances in new technology. China also hosts a vibrant robotics market; one of the most advanced artificial intelligence landscapes in the world; and a booming electronics industry.
EY Greater China chairman Jack Chan put these developments in a wider economic context. “China’s 14th Five-Year Plan emphasises the long-term goal of ‘achieving major breakthroughs in key technologies and entering the forefront of innovative countries’ by 2035.”
“Technological innovation is one of the most important power forces to underpin China’s high-quality economic development, and digital economy in particular will become a crucial engine for future growth.”