Technology & Innovation | BNY
ARTIFICIAL INTELLIGENCE
Developing Next-Generation Solutions
For more than five years, BNY has been creating artificial intelligence (AI) enabled solutions for financial services. We aim to empower clients with trustworthy and scalable platforms.
Due to our position in the financial markets, we have a unique viewpoint that can help clients make data-driven decisions. AI can play a crucial role in how we leverage those insights to benefit our clients.
Advancing Responsible & Ethical AI in Financial Services
As a financial institution that greatly values innovation and trust, we believe in both the potential of data and AI to support the financial system’s continued evolution, and the need for robust guardrails to manage their responsible use. Our goal is to promote the compliant, responsible and ethical use of AI.
Introducing Eliza
Our enterprise AI platform, Eliza, is built on the premise of foundational, reusable capabilities and is designed to enhance client service, company operations and drive cultural transformation through the power of artificial intelligence.
Named after Eliza Hamilton, well-known philanthropist and wife of our founder Alexander Hamilton, Eliza offers BNY employees a marketplace of AI solutions, access to approved datasets and a community for insights into intelligent tools and platforms.
As a central resource, Eliza empowers employees with advanced AI capabilities, streamlining workflows and fostering innovation across the bank within a robust governance framework.
How We Use AI Today & Exploring for the Future
Today, we have more than 20 AI-enabled solutions in production. These solutions support predictive analytics, automation and anomaly detection, among other capabilities. We design our solutions to help clients transform their businesses while enhancing our own infrastructure.
Client Experience
We are exploring ways to harness the power of AI in our new product offerings to enable faster decision-making and increased efficiency.
New Products and Solutions
We are exploring ways to harness the power of AI in our new product offerings to enable faster decision-making and increased efficiency.
Employee Experience
We are exploring AI-driven tools to help our employees’ continuous growth.
Investing in AI Talent Readiness
130 hours
of AI learning content
available to all employees, tailored to various personas, including a pathway for executive leadership, through the firm’s learning management system1
26K+ hours
of AI training completed
by 2,700+ BNY employees during the first five months following the launch of the AI learning program1
12.5K+
employees
onboarded on Eliza, the firm’s centralized AI platform, offering ~23%1 of the workforce an opportunity to leverage generative AI capabilities responsibly
1.1K
employees
participated in the firm’s 2024 Hackcelerator 2.02 during which 120+ AI-based ideas were explored in the Wealth and Investment businesses
1) As of July 31, 2024
2) An internal Hackathon event held May 13-29, 2024
Academic Collaborations
BNY is committed to developing and maintaining strong collaborations with academic and research institutions on AI-related research and sponsored projects. These collaborations help drive innovation and support talent acquisition benefitting both BNY and the institutions. A few examples of our existing relationships appear below.
Carnegie Mellon University
The Master of Science in Artificial Intelligence and Innovation program at Carnegie Mellon University enables its students to identify AI applications and develop and deploy AI solutions that solve practical market problems.
Stevens Institute of Technology & Rensselaer Polytechnic Institute
CRAFT is a fintech-based Industry/University Cooperative Research Center (I/UCRC), where the center's academic and industry partners collaboratively create innovative solutions in machine learning and artificial intelligence, quantum computing, decentralized finance (DeFi) and blockchain technology, generative language models, climate impact on investment and financing and cybersecurity.
Massachusetts Institute of Technology
MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL) pioneers research in computing and artificial intelligence that focuses on developing new technologies, conducting research and inspiring future scientists and technologists in the field of computing and artificial intelligence.
Spotlight Solution
Transforming the U.S. Treasury Market Settlement & Clearance Process
As the largest and most liquid fixed income market in the world, the U.S. Treasury market plays a crucial role in the global economy. It serves as a safe-haven asset, providing price discovery, margin management and benchmark for pricing derivatives.
Our Innovation Awards
America’s Most Innovative Companies
100 Best Workplaces for Innovators
World's Most Admired Companies
Are you interested in joining us?
When you join BNY, you will have the chance to work with thought leaders and industry trailblazers. Our finance, engineering and operations leaders have spent decades pioneering vanguard methods of working and spurring new ideas within the financial sector. Join us and learn from the best in our collaborative environment.