America’s Oldest Bank Bets Big On AI
By CNBC
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America’s oldest bank is going all in on AI. BNY spends nearly $4 billion a year on technology, or about 19 percent of its revenue – a proportion far higher than any of its big-bank peers. But the big concern around the bank industry’s AI spending right now is what the return will be. CNBC’s Leslie Picker dives into BNY’s latest AI efforts and what it could mean for the future of the firm. Reporting by: Leslie Picker Senior Producer: Ritika Shah Senior Managing Producer: Tala Hadavi Graphics: Emily Park, Darren Geeter Camera by: Oscar Molina and Alexander Bedoya Edit by: Edward Fetner Additional footage: Getty Images » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Watch CNBC on the go with CNBC+: https://www.cnbc.com/WatchCNBCPlus About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to get ahead at wor
Tags: AI, banks, big banks, oldest bank, BNY, bank of new york, digital employees
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