Embracing AI and Data - The Future Won’t Wait
Eoin O’Reilly
EY Ireland Partner, Head of AI and Data
Today every business, whether focused on life sciences or technology, agrifoods or energy, is also a data business. Data underpins every process and function, and its effective use is key to developing, extending and protecting competitive advantage, and delivering for customers and other stakeholders.
Today, the effective use of data is now ‘table stakes’ in business. As 2025 begins, the use of Artificial Intelligence – whether traditional (AI that can analyse and interpret existing data) or Generative (AI that can create something entirely new from existing data) is rapidly becoming essential for organisations seeking to stay ahead.
At EY, we are AI optimists. We believe that AI is changing everything, because AI is becoming part of everything. We believe the next decade will see a fundamental transformation of organisations, business models and value creation all underpinned by AI in combination with continued advances in digital, cloud and metaverse solutions.
The transformative potential of AI has seen it move to the top of CEOs’ agendas globally, with EY’s recent CEO Outlook finding that 65% of CEOs recognise the potential for AI to drive productivity and positive outcomes for stakeholders, and that 45% are actively planning capital investments in AI in the next 12 months.
Many organisations in Ireland are already using both traditional and Gen AI in a range of industries and sectors to boost revenue growth, maximise cost efficiency and help manage risk. The EY Ireland AI and Data team is partnering with many organisations here – including AmCham members – to embed and harness AI in their operations. Examples include working with companies to improve efficiency and output in both laboratory and pharmaceutical manufacturing settings; onboarding a GenAI productivity suite in a food and ingredients company; rolling out an AI-enabled digital twin to enable an energy operator to improve technician training; and supporting a conglomerate operation to develop its own AI Foundry. We are also working with a range of public sector organisations to support them in the use of digital technologies including AI to optimise operations.
As competition for inbound foreign direct investment intensifies globally, ensuring that Ireland continues to have the right balance of world-class talent, business-friendly policies and innovation incentives to succeed will be critical. Many countries already see AI as a strategic opportunity with significant potential for inward investment and competitive advantage, and they are adapting policies and creating the necessary ecosystems and infrastructure to accelerate the attraction of this investment. It is important that here in Ireland we look at the AI opportunity through the same strategic lens and that we prioritise our AI investments and strategies to both protect our existing FDI position and to attract the next wave of growth. The future won’t wait.
Many organisations in Ireland are already using both traditional and Gen AI in a range of industries and sectors to boost revenue growth.
