EY has launched wavespace in Bermuda to serve as “an environment where businesses can harness advanced technologies and stay ahead of disruption”.

It said companies, governments and other entities can accelerate their transformation by piloting new technologies and exploring innovative solutions in wavespace, while drawing on EY’s regional and global experience.

A survey it conducted involving more than 300 chief executive officers of Fortune 2000 business found that they understand the need to “embrace a mindset of continuous transformation in order to thrive” but also recognised the face capability and execution gaps to achieve that.

EY said wavespace is designed to close those gaps.

Dan Scott, regional managing partner of the EY region of the Bahamas, Bermuda, British Virgin Islands and Cayman Islands, said: “Using a proven mix of the latest interactive tools and innovative methodology, our wavespace provides clients and others with the ability to identify and explore alternative solutions and new emerging technologies in a sandbox environment.

"By breaking down challenges, we’re helping our clients harness the endless upside potential in the digital age. We’re excited about the new opportunities the wavespace presents for the community.”

The wavespace launch in Bermuda is part of the broader regional launch of the integrated EY wavespace, which also includes Bahamas and Cayman Islands.

The company said it will serve as either a physical or virtual experience, where participants can tap into EY regional and global knowledge. The goal is to generate ideas, build new processes and solutions, develop new business models and products, and drive transformation.

Chris Maiato, EY regional consulting leader, said: “The pace of change has accelerated such that companies and other entities can be disrupted at any time. We believe transformation is best achieved by putting people at the centre. That’s why our immersive approach is people-centric and focuses on collaboration and innovation.

“The EY wavespace accelerates decision-making and problem-solving by bringing together the right people across the organisation and giving them the collaborative framework, tools and technology to think differently.”

EY wavespace is a global network consisting of forty-eight locations that help organisations “reframe their thinking to find answers to their biggest challenges”, the company said, adding that it is a place were innovative ideas can be explored and ingenuity and potential unlocked. It said wavespace enables collaboration virtually and in-person across different industries.

For more information, visit ey.com/wavespace/bbc