US-based investment bank and global custodian BNY (formerly known as Bank of New York Mellon) has forged a partnership with OpenAI, the organization behind the generative AI platform ChatGPT, to enhance the development of its proprietary AI system, dubbed Eliza.
As reported by the Wall Street Journal (WSJ), this collaboration will provide BNY with access to OpenAI’s extensive resources, including Deep Reseach, a newly launched web-browsing tool available to all ChatGPT users.
Sarthak Pattanaik, the head of BNY’s AI hub, emphasized the transformative potential of AI, stating, “We believe AI will play a crucial role in every product and service we offer.”
The arrangement will also furnish OpenAI with valuable insights into the performance of its models when executing complex tasks in real-world scenarios, according to the WSJ.
OpenAI’s Chief Operating Officer, Brad Lightcap, highlighted the banking sector’s significant engagement with AI, noting it as a key player in recruiting top talent and filing numerous AI-related patents. “We’ve observed strong demand in this area,” Lightcap remarked, adding, “I anticipate this trend will continue.”