In early 2023, soon after OpenAI released ChatGPT to the world, BNY gathered its senior executives to decide how to incorporate artificial intelligence into its financial empire.
While AI has created an arms race across sectors from health care to law firms, banks like BNY still have to proceed with caution. A rogue agent or hallucination could trigger the next financial meltdown, after all, and that’s not to mention the reams of red tape and regulations that institutions have to consider when it comes to sensitive data and customers’ personally identifiable information.
