“We think of AI as generating capacity for us,” Vince said at the town hall. According to a BNY spokesperson, 98% of the company’s employees are trained on generative AI, with the majority using Eliza daily.
Named after the wife of Alexander Hamilton, who founded BNY’s corporate predecessor, Eliza has stood as the flagship AI product of the 240-year-old bank. The new update for Eliza, which first launched in 2024, will focus on allowing employees to access data across different sources, from different hubs within BNY to live market data, with the goal of increasing speeds for responding to clients.
In an email sent to employees and shared with Fortune, chief people officer Shannon Hobbs and chief information officer & global head of engineering Leigh-Ann Russell wrote that the upgrade would allow them to develop client briefings in minutes rather than hours.
The broader question for banks, which are constrained by compliance requirements and red tape, is whether AI tools will evolve beyond pilot programs and transform core functions. According to the Evident report, just six of its tracked banks reported that AI had a financial impact.
In their email, Hobbs and Russell referenced different use cases already adopted by bank employees for Eliza, including reconciling weekly transactions, which has increased automatic processing, repairing payments, and writing code. “Fluency in AI is no longer optional, it’s critical,” they wrote.
