America's Oldest Bank Bets Big On AI

Core Insights - BNY Mellon has introduced 134 digital employees that operate continuously without breaks, distinguishing them from traditional AI agents [1][2] - The bank processes between $2.5 trillion to $3 trillion in daily settlements, with digital employees handling specific repetitive tasks to enhance human productivity [3][5] - BNY Mellon has invested nearly $4 billion in technology in 2025, representing 19% of its total revenue, the highest among large banking peers [9] Digital Employees - Digital employees at BNY are designed to perform specific tasks, such as identifying and fixing errors in payment processing, which were previously handled by humans [4][5] - The bank is not merely replacing human roles but is focusing on upskilling its workforce to be AI literate, with 99% of employees completing a training program named Eliza [6][7] AI Integration and Training - BNY has developed a platform called Eliza that integrates various AI models with internal data and compliance [6] - The bank aims to train 15,000 employees through an AI boot camp this year, focusing on automating tasks that previously took significant time [12][13] Future Outlook - BNY envisions a future where humans and machines work together, emphasizing productivity rather than job replacement [15][16] - The bank currently has 160 AI solutions in production, indicating a strong commitment to leveraging technology for operational efficiency [14]