EY Confirms a Partnership with Nokia to Assist Businesses in Harnessing the Potential of 5G and Accelerating Digital Transformation

Ernst & Young Oy (EY Finland) and Nokia have established a strategic partnership that will be expanded to other EY member companies around the world to assist businesses and communication service providers (CSPs) in accelerating their digital and industry transition journeys and unlocking the business value of private wireless and 5G network capabilities. The partnership would also assist businesses in remaining resilient after the COVID-19 pandemic.

With the pressure of an increasingly remote working environment, growing demand for connectivity, new technology such as the internet of things (IoT), Industry 4.0 (IR4.0), connected products, and advanced mobility are rapidly changing how businesses and economies function. Around the same time, according to new EY research, 69% of companies are either invested in or planning to invest in 5G. The EY corporation, a world leader in enterprise and advanced technology consultancy, and Nokia, a global innovation leader with an end-to-end portfolio of networking solutions, will work together to solve the management and security issues associated with these innovations, as well as the vast amounts of data they generate.

Connectivity enhances operational efficiency and raises the security threshold

Enterprise digital transition is driving demand for private wireless networks (industrial), IoT devices, analytics, machine learning, and ecosystem integration of organizational technology (OT) and information technology (IT) (IT). Because of the rapid rise of connected devices, there is an increased risk of cybersecurity attacks. EY and Nokia will assist companies in creating customer trust, achieving a return on investment, reconsidering operating procedures, and evaluating complex regulatory criteria by securely linking equipment and processes across the supply chain.

In today's fast-changing environment, the alliance focuses on three key offerings:

• The partnership will concentrate on accelerating digital transformation in manufacturing, energy, and operations across sectors, as well as integrated connectivity for businesses. The partnership will also address the digital transition occurring in governments and cities.

• The partnership will concentrate on developing cybersecurity and digital trust by safeguarding the core operations of telcos, service providers, and corporate customers, as well as managing the security challenges posed by the increasing prevalence of IoT devices and IT/OT integration through managed security services and solutions.

• The partnership would assist CSPs in accelerating digital innovation through their entire life cycle, resulting in increased growth and more productive operations. This involves capturing and monetizing 5G business enterprise opportunities, as well as digitizing CSPs' whole business processes to achieve reduced cost-to-serve and improved customer experience.

Showcasing 5G and cloud technology at the EY-Nottingham Spirk Innovation Hub

Ernst & Young LLP (EY US) recently announced a partnership with Nottingham Spirk and the opening of the upcoming EY-Nottingham Spirk Innovation Hub in Cleveland, Ohio, set to open in summer 2021. The Innovation Hub will bring together EY's digital, manufacturing, and EY wavespaceTM capabilities, as well as Nottingham Spirk's design and product development offerings, to help companies accelerate productivity, resiliency, agility, and growth through the entire value chain.

As the primary enabler for advancing industrial automation and connecting people, machines, and devices with business processes across industries, enterprise 5G and edge cloud technologies will be a core feature at the Innovation Hub. Nokia will equip the Innovation Hub with the Nokia Digital Automation Cloud, a platform for industrial-grade private wireless networking which edges computing, and will demonstrate how robots and automated machine operations will harness efficient 5G technologies in the future industrial ecosystem with EY.