BNY introduces 134 new “digital employees” that work 24/7 alongside humans. CFO states AI is unlocking capacity, not just for efficiency, to grow with clients and optimize potential for employees. BNY’s tech spending highest among large-bank peers. Analysts predict 19% earnings boost with AI, but firm emphasizes tech won’t replace humans.

AI arms race among banks includes BNY, with potential for significant benefits. Company invests in upskilling human employees alongside digital workforce. AI Hub established to train employees on automation. Platform Eliza integrates various models for automation, with majority of workforce completing AI training. Technology investments aim to unlock productivity, not replace human workers.

BNY’s history meets AI forefront with platform Eliza, named after Alexander Hamilton’s wife. The bank focuses on democratizing technology, training employees to automate parts of their jobs creatively. AI Hub offers training for all employees, emphasizing the intersection of technology and historical legacy.

Read more at CNBC: America’s oldest bank spends billions on tech