IBM and EY partner on ESG and quantum computing

18 April 2023 3 min. read
More news on

Business computing giant IBM and Big Four professional services firm EY have entered into a heavyweight alliance, which will see the two companies collaborate to bring quantum computing solutions to their global clients. EY will become part of IBM’s quantum network community, using the access this provides to apply quantum solutions to some of the greatest problems businesses and governments face around the world.

Quantum computing is a multidisciplinary field comprising aspects of computer science, physics, and mathematics that utilizes quantum mechanics to solve complex problems faster than on classical computers. Quantum technologies have long been identified as a key priority to promote economic development, with some studies suggesting they will have a global market value of as much as $1 trillion by 2035. As a result, Governments are supplying tax breaks to tech companies investing in R&D to make the innovation a reality.

This has triggered something of a gold-rush in the professional services sector. In 2022, EY became the latest consulting giant to begin exploring the potential of quantum computing, by establishing its own Global Quantum Lab. Its new partnership with IBM, becoming part of the IBM Quantum Network, will further enable EY to explore solutions with quantum technology which could resolve some of today’s most complex business and global challenges – including the climate crisis.

IBM and EY partner on ESG and quantum computing

Steve Varley, EY Global Vice Chair for Sustainability, said, “In order for organisations to address an ever-evolving set of ESG challenges, solutions must be delivered and deployable at a faster pace than ever before. The value of this deepened and longstanding alliance is in how it leverages the consulting and technology capabilities of both EY and IBM teams, to be at the forefront of how clients plan and accelerate their ESG journey and build trust with their most critical stakeholders.”

Using IBM quantum technology, EY teams now plan to conduct leading-class research to uncover transformative use cases, including: the reduction of CO2 emissions from classical computing, the improvement of safety and accuracy of self-driving cars, and most critically, integrate quantum benefits into organizations’ mainstream systems for data processing and enterprise decision making. EY teams will also leverage their access to IBM’s fleet of quantum computers, which is the largest in the world, to explore solutions to enterprise challenges across finance, oil and gas, healthcare, and government.

Jay Gambetta, Vice President, IBM Quantum, added, “IBM’s vision is to deliver useful quantum computing to the world. We value partners like the EY organization that can introduce the emerging technology to a wide ecosystem of public and private industry. This will help EY facilitate the exploration of quantum computing’s potential for use cases that matter in their industry.”

Membership in the IBM Quantum Network is part of a broader effort by EY organisation to invest and develop robust capabilities in emerging technologies, which already include artificial intelligence, blockchain, and metaverse development. Beyond the increased investment of the EY-IBM Alliance, the EY organization is investing $10 billion in technology initiatives over three years, including investment in the organization’s own quantum function.

Andy Baldwin, EY Global Managing Partner for Client Service, concluded, “Quantum, in terms of importance to business, society and the EY organization, is akin to what AI represented years ago. This alliance puts the EY organisation at the forefront of technology. As we invest in this level of quantum computing access, we accelerate our own position and depth of knowledge and capabilities in this space and deepen our rich relationship with our IBM alliance teams.”