BNY has significantly upgraded its AI enterprise platform, Eliza, by integrating with Google Cloud. This enhancement allows employees to create AI agents capable of swiftly processing, synthesizing, and analyzing extensive financial reports and relevant data. The goal is to extract insights and navigate complex financial information more efficiently.
According to Sarthak Pattanaik, Chief Data & AI Officer at BNY, this integration also supports the automation of routine, data-intensive tasks. He stated, “At BNY, our AI strategy is clear: AI for everyone, everywhere and everything.” The collaboration with Google Cloud’s Gemini Enterprise aims to deepen the platform’s research capabilities while integrating data sources more seamlessly and securely, ultimately improving user experience.
Widespread Adoption of AI Tools
Speaking to Finextra at the Sibos conference this year, BNY payments executive Isable Schmidt highlighted the extensive implementation of AI across the bank. Nearly 100% of BNY employees have undergone AI training, and by the end of September 2023, BNY’s platform Eliza had over 110 AI solutions in production. This widespread adoption underscores the bank’s commitment to leveraging advanced technology in its operations.
The partnership with Google Cloud is not new; BNY has long utilized Google Cloud’s AI capabilities, including its latest models, Gemini 3 and Veo 3. Rohit Bhat, General Manager and Managing Director of Financial Services at Google Cloud, remarked, “Our collaboration with BNY is at the forefront of the agentic era in finance.” He added that the combination of Gemini Enterprise’s powerful reasoning with BNY’s deep expertise in financial markets demonstrates that the future of banking lies in the seamless integration of human expertise and advanced computational agents.
As financial institutions increasingly turn to AI to enhance efficiency and decision-making, BNY’s advancements with Eliza position it as a leader in the evolving landscape of finance technology. The integration of advanced AI capabilities not only streamlines operations but also enhances the customer experience, paving the way for a new era in banking.
