BNY Mellon Partners with OpenAI to Enhance AI Capabilities Amidst New York’s Growing AI Adoption

In a significant move to bolster its technological capabilities, the Bank of New York Mellon Corp (BNY), America’s oldest bank, has entered into a multiyear partnership with OpenAI. This collaboration aims to enhance BNY’s internal AI platform, Eliza, by integrating advanced tools developed by OpenAI. The financial terms of the agreement have not been disclosed.

Eliza, accessible to all 52,000 BNY employees, functions both as a chatbot and an AI tool development hub. Currently, over half of the bank’s workforce actively utilizes the platform. Through this partnership, BNY will gain access to OpenAI’s ChatGPT Enterprise, enabling the bank to leverage advanced AI features such as Deep Research and Operator. This initiative reflects BNY’s commitment to integrating cutting-edge AI technologies into its operations, aiming to streamline complex task management and enhance research capabilities.

This development comes at a time when New York’s business landscape is witnessing a surge in AI adoption across various sectors. Major hospitals in the state are increasingly investing in AI to improve patient care and operational efficiency. These institutions are attracting significant investments and forming high-level partnerships, leveraging their talent, research capabilities, and extensive in-house data to advance AI applications in healthcare.

In the legal sector, firms are also embracing AI to enhance their services. For instance, Ropes & Gray was recognized as a “Women-Forward Workplace 2024” by Crain’s New York Business, partly due to its innovative use of AI in fostering female leadership and implementing successful policies that help women thrive in the workplace.

These developments underscore a broader trend of AI integration within New York’s business community, as organizations across various industries seek to harness the potential of artificial intelligence to drive innovation and maintain a competitive edge.