The Bank of New York (BNY) has announced a significant enhancement to its AI enterprise platform, Eliza, through a collaboration with Google Cloud. This integration allows BNY employees to develop AI agents capable of swiftly processing and analyzing extensive financial reports, relevant data, and historical trends. By leveraging these capabilities, the bank aims to extract valuable insights and efficiently navigate complex financial information.
According to Sarthak Pattanaik, Chief Data & AI Officer at BNY, this integration is instrumental in automating routine, data-intensive tasks. “At BNY, our AI strategy is clear: AI for everyone, everywhere, and everything,” Pattanaik stated. He emphasized that the integration with Gemini Enterprise advances Eliza’s capabilities, enhancing its research functions and allowing for more seamless and secure data integration while improving the overall user experience.
At the recent Sibos 2023 conference, Isable Schmidt, BNY’s payments executive, highlighted the extensive implementation of AI across the bank. She noted that nearly 100% of BNY employees have received AI training. By the end of September 2023, BNY’s AI platform, Eliza, had over 110 AI solutions actively in production, showcasing the bank’s commitment to integrating advanced technology into its operations.
BNY has a longstanding partnership with Google Cloud, utilizing its AI capabilities, including the latest models such as Gemini 3 and Veo 3. “Our collaboration with BNY is at the forefront of the agentic era in finance,” said Rohit Bhat, General Manager and Managing Director of Financial Services at Google Cloud. He expressed confidence that the combination of Gemini Enterprise’s advanced reasoning and BNY’s expertise in financial markets demonstrates a clear vision for the future of banking, which hinges on the seamless integration of human knowledge and sophisticated computational agents.
This collaboration represents a pivotal step forward in the financial sector, emphasizing the importance of AI in enhancing operational efficiency and decision-making processes. By equipping its workforce with advanced AI tools and solutions, BNY is positioning itself to remain competitive in an increasingly technology-driven industry.
