Through this collaboration, BNY will integrate OpenAI’s technology to optimise its proprietary enterprise AI platform, Eliza, and scale AI-driven solutions across its global operations.
Eliza serves as BNY’s AI platform and is designed to improve client service and company operations while driving cultural transformation. It supports BNY’s employees with AI capabilities, optimising workflow and fostering innovation across the bank with a better governance network. All employees have access to the Eliza platform, with more than 50% using it regularly and 15% of those proficient being enough to build agents of their own. BNY has approximately 40 AI-enabled solutions in production at the moment, operating for predictive analytics, automation, anomaly detection, and better access to information.
BNY’s representatives mention that AI is reshaping the financial service ecosystem and helping institutions move quickly and more efficiently. This collaboration grants BNY access to OpenAI’s API and ChatGPT platforms. This aims to help the company improve Eliza with access to additional AI capabilities, including OpenAI’s reasoning model and fine-tuning features.
The company previously set a precedent for transformative financial services collaborations with tech companies focused on AI. In Q1 2024, BNY deployed an AI supercomputer powered by NVIDIA to accelerate its processing capacity and launch AI-enabled efficiencies.
The bank also introduced GitHub Copilot in 2024, with over 80% of its developer community using it on a daily basis, thus increasing the speed of code development. It is also leveraging Microsoft 365 Copilot as an AI productivity tool to assist its employees.
OpenAI sees this partnership as an opportunity to build and deploy AI that meets the bespoke needs of the industry, which pushes for AI adoption.
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