Core Insights - BNY and Carnegie Mellon University have entered a five-year, $10 million agreement to advance research and development in artificial intelligence (AI) [1][2] - The collaboration, named the BNY AI Lab, aims to develop technologies ensuring governance, trust, and accountability in mission-critical AI applications, particularly in financial services [2][4] - A dedicated space will be established on CMU's Pittsburgh campus to facilitate joint research, education projects, and talent recruitment [3][4] Company Overview - BNY is a global financial services company managing $55.8 trillion in assets under custody and/or administration and $2.1 trillion in assets under management as of June 30, 2025 [6] - BNY has a long-standing relationship with CMU, being the largest employer of graduates from CMU's Master of Science in Artificial Intelligence and Innovation program [5] Industry Impact - The partnership aims to strengthen Pittsburgh's position as a global hub for AI advancement and foster economic development in Western Pennsylvania [5] - The collaboration seeks to combine CMU's AI research leadership with BNY's scale to ensure AI delivers measurable benefits for clients and the broader financial ecosystem [4][5]