Ernst & Young (EY) has expanded its wavespace network of growth and innovation centres with the opening of a new facility in Singapore, which aims to help businesses in the Asia-Pacific region innovate and transform for growth opportunities.

Chee Hong Tat (pictured), Senior Minister of State, Ministry of Trade & Industry and Ministry of Education in Singapore, was the guest of honour at the centre’s opening ceremonies. 

The Singapore centre is the newest among EY’s 18 wavespace centres worldwide. It focuses on the disruptive technologies of intelligent automation, including artificial intelligence, machine learning, blockchain and robotic process automation, among other digital capabilities, EY said in a statement. The centre seeks to combine EY’s international insights in disruptive technologies with deep knowledge and experience of the local market.

Singapore is one of the most established financial hubs in Asia-Pacific. However, the region also presents unique challenges such as cross-border complexity in terms of regulation, and varying levels of political maturity, technological development, and advancement.

“Singapore is a strategic location for our investment in the new wavespace centre,” said Max Loh, EY’s ASEAN and Singapore managing partner. “We believe that wavespace will play an enabling role in driving greater digital agility in Singapore-based businesses, as the country seeks to develop an innovation-driven economy and entrench itself as the commercial and financial hub for businesses spring-boarding into the region.”