Latest news with #Truncale
Yahoo
4 days ago
- Business
- Yahoo
Uncertainty is the new norm, says EY boss Janet Truncale. She's advising clients to rely on 'muscle memory' to get through.
EY boss Janet Truncale says that uncertainty is here to stay. She shared some advice for entrepreneurs and business leaders in an interview with Bloomberg TV. Lean on muscle memory and don't go it alone, Truncale said. Uncertain times are here to stay, according to the head of the Big Four firm EY. "Uncertainty is going to be the norm. It's going to be there for some time," Janet Truncale, EY's global chair and CEO, told Bloomberg TV in an interview on Wednesday. Business leaders are facing change and tough decisions on all fronts, from quickfire tariff policies and stock market swings, to how to implement AI and handle generational shifts in the job market. Truncale said that "confidence has been up and down in the C-Suite for the last year" and that technology, AI, and tariffs are all topics that entrepreneurs are talking about. Her advice for entrepreneurs and clients is to "stay the course and remember that muscle memory." Entrepreneurs should "go back to what you know and make sure that you don't go it alone," she added. "We've been talking to a lot of entrepreneurs who got to this point of their business without taking outside capital, without outside advice. And I think it's really important in our strategy and for all our customers, you don't need to go it alone," Truncale said. As businesses confront a new era of American trade policy, many are turning to consulting firms like EY for strategies to adapt to the rapidly changing regulatory landscape. The CEO added that in today's uncertain environment, EY's clients were focusing on transformation, growth, the customer, and cost cutting. As global chair and CEO of EY, Truncale is responsible for leading 400,000 employees and overseeing a global network that with revenue of over $50 billion last year. EY has faced its share of uncertainty in recent years. In April 2023, EY made headlines after a bid to split the firm's consulting and audit lines under the previous CEO, Carmine Di Sibio, fell apart amid infighting. EY has also been hit by the wider industry slowdown in demand for consulting services. EY's global annual revenue growth fell by 10 points in its 2024 financial year — the business grew by 3.9% compared to 14.2% in 2023. Truncale has pushed some major strategic changes since she took over as CEO in July 2024, almost one year ago. They include plans to merge EY's existing geographical regions into 10 superregions and the expansion of the EY-Parthenon brand to represent the entire EY strategy and transactions service line. Have a tip? Contact this reporter via email at pthompson@ or Signal at Polly_Thompson.89. Use a personal email address and a nonwork device; here's our guide to sharing information securely. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
4 days ago
- Business
- Business Insider
Uncertainty is the new norm, says EY boss Janet Truncale. She's advising clients to rely on 'muscle memory' to get through.
Uncertain times are here to stay, according to the head of the Big Four firm EY. "Uncertainty is going to be the norm. It's going to be there for some time," Janet Truncale, EY's global chair and CEO, told Bloomberg TV in an interview on Wednesday. Business leaders are facing change and tough decisions on all fronts, from quickfire tariff policies and stock market swings, to how to implement AI and handle generational shifts in the job market. Truncale said that "confidence has been up and down in the C-Suite for the last year" and that technology, AI, and tariffs are all topics that entrepreneurs are talking about. Her advice for entrepreneurs and clients is to "stay the course and remember that muscle memory." Entrepreneurs should "go back to what you know and make sure that you don't go it alone," she added. "We've been talking to a lot of entrepreneurs who got to this point of their business without taking outside capital, without outside advice. And I think it's really important in our strategy and for all our customers, you don't need to go it alone," Truncale said. As businesses confront a new era of American trade policy, many are turning to consulting firms like EY for strategies to adapt to the rapidly changing regulatory landscape. The CEO added that in today's uncertain environment, EY's clients were focusing on transformation, growth, the customer, and cost cutting. As global chair and CEO of EY, Truncale is responsible for leading 400,000 employees and overseeing a global network that with revenue of over $50 billion last year. EY has faced its share of uncertainty in recent years. In April 2023, EY made headlines after a bid to split the firm's consulting and audit lines under the previous CEO, Carmine Di Sibio, fell apart amid infighting. EY has also been hit by the wider industry slowdown in demand for consulting services. EY's global annual revenue growth fell by 10 points in its 2024 financial year — the business grew by 3.9% compared to 14.2% in 2023. Truncale has pushed some major strategic changes since she took over as CEO in July 2024, almost one year ago. They include plans to merge EY's existing geographical regions into 10 superregions and the expansion of the EY-Parthenon brand to represent the entire EY strategy and transactions service line.
Bloomberg
5 days ago
- Business
- Bloomberg
EY CEO on Entrepreneurship, Uncertainty, AI
More than a third of the finalists in EY's 25th annual World Entrepreneur of the Year are focused on AI. The event recognises the achievements, vision and impact of entrepreneurs around the world, and takes place at a time of financial volatility and geopolitical change. EY CEO Janet Truncale said business leaders and entrepreneurs are grappling with uncertainty, which has become "the new norm". On technology, Truncale says EY wants to ensure technology "underpins everything we do." Truncale joined Francine Lacqua on The Pulse. (Source: Bloomberg)
Business Insider
06-05-2025
- Business
- Business Insider
EY CEO says AI won't decrease its 400,000-person workforce — but it might help it double in size
If artificial intelligence advances mean the average employee can do twice the amount of work they do today, then EY CEO Janet Truncale could see the consulting giant grow without cutting her head count. Speaking Monday at the Milken Institute Global Conference in Los Angeles, Truncale said, "We're not going to decrease the size of our workforce" because AI increases productivity, and employees perform at a higher level earlier in their careers. Her 400,000-person firm works with the biggest companies in the world, but the data-heavy work required of auditors and accountants has led many to predict that firms like EY can do the same amount of work with fewer people, thanks to AI. Truncale believes AI "is going to transform the work our people are doing," but not make humans obsolete or eliminate thousands of jobs. "There's always going to be a human component," she said. "You have to invest in all of the soft skills," she added. Naturally, the firm is talking with companies in various sectors about AI tools they can incorporate into their firms. EY is able to connect with these executive teams because the firm is "client zero" and tests many tools on its own workforce and "disrupting ourselves" before recommending them to clients, Truncale said. There's a healthy respect for these tools given teams across the firm are constantly tinkering with them — of both the tools' abilities and faults. Data, Truncale said, and data security need to be top of mind for executives who want to harness AI. "You've got to be really careful with this technology," she said. While generative AI has disrupted professional services, many in the industry have echoed Truncale and said they do not think it can replace humans entirely but instead serve as a supplement to their work. EY and the other Big Four firms have invested heavily in AI for years and recently in agentic AI, which involves several AI "agents" operating independently and making decisions without the direct assistance or input of humans. In March, EY launched its Agentic Platform in March, providing 80,000 of its tax employees with 150 tax agents that can help them with data collection, document analysis and review, and income and indirect tax compliance. Other firms and consultants have also said they view AI as a way to free up staff from monotonous tasks and give them additional time to spend on more advanced or complicated work. AI has been a boon to consulting firms' business as clients look for guidance on how to incorporate the technology.
