BNY, the world’s largest custodian, is partnering with OpenAI to integrate AI across its operations, aiming to boost efficiency, data quality, and employee empowerment while maintaining trust and security. Through initiatives like the Eliza platform and widespread AI training, BNY is democratizing AI tools for its workforce and positioning itself at the forefront of technological innovation in financial services.
BNY is a global financial services platform that plays a crucial role in the global economy, managing $55.8 trillion in assets as the world’s largest custodian. The company emphasizes trust as the foundation of its operations, ensuring that its critical infrastructure is reliable and secure. BNY’s guiding principle is “AI for everyone, everywhere, and in everything,” reflecting its commitment to integrating artificial intelligence across all aspects of its business.
The partnership with OpenAI marks a significant step in BNY’s journey to enhance data governance, improve data quality, and unlock data-driven decision-making. By leveraging OpenAI’s advanced technologies, BNY aims to increase operational efficiency—not just in terms of numbers, but by freeing up time for employees to engage in more meaningful and high-quality interactions with clients. This shift enables the company to focus on delivering greater value and fostering stronger client relationships.
BNY believes that AI, and generative AI in particular, will become the “operating system” of future technology. To support this vision, the company has developed Eliza, an innovation accelerator platform that incorporates cutting-edge AI capabilities. Eliza is designed to empower employees and drive innovation throughout the organization, helping BNY stay at the forefront of technological advancements in the financial sector.
A key aspect of BNY’s AI strategy is widespread employee enablement. Over 50,000 employees have been trained in AI, with 98% completing responsible AI training. Additionally, 20,000 employees have created their own AI agents, demonstrating the company’s commitment to democratizing AI tools and fostering a culture of innovation. For example, one team developed an agent to rebrand and correct all learning materials, illustrating how AI serves as a valuable thought partner and productivity multiplier.
The ongoing collaboration with OpenAI ensures that BNY continues to access the latest advancements in AI research and reasoning models. This relationship not only provides BNY with cutting-edge technology but also valuable guidance and advice. BNY is committed to building on its legacy of trust while embracing the opportunities that AI offers for the future, confident that AI will play a central role in shaping the company’s continued growth and success.