The banking industry was among the first to consider the implications of AI. According to Sarthak Pattanaik, head of Bank of New York Mellon’s AI Hub, executives at the BNY gathered to figure out how to integrate AI into their operations just weeks after OpenAI released ChatGPT.
“We feel AI has transformational power and will be part of every product and service,” said Pattanaik in an interview with Fortune.
Now, it is embedded into the operations, product strategies, and workforce planning of America’s largest financial institutions. BNY Mellon, Citigroup, Morgan Stanley, and JPMorgan Chase are leading this evolution, each developing distinct approaches to integrate AI as a fundamental capability.
These financial institutions are adapting to AI while maintaining regulator
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