BNY Mellon CEO discusses how America's oldest bank is reinventing itself with AI

BNY Mellon CEO Robin Vince joins Yahoo Finance's Julie Hyman and Brian Sozzi in Davos, Switzerland to discuss why AI is "all the rage" at the World Economic Forum this year, though clients remain "a little cautious" on adoption. At the 240-year-old firm, Vince says they continually "reinvent", citing their new AI Hub as the latest transformation.The Hub allows clients to model scenarios like analyzing the post-trade treasury market using generative AI. Internally, AI helps BNY Mellon researchers with morning workflows which he says, "creates efficiency for them."On interest rates, despite acknowledging headwinds, Vince says "the Fed has done a pretty good job navigating everything." He hopes for a soft landing but noted BNY prepares clients for uncertainty as rates could rise or fall. However, he notes "resilience matters," and preparedness is key for his clients.It's all part of Yahoo Finance's exclusive coverage from the World Economic Forum in Davos, Switzerland, where our team will speak to top decision-makers as well as preeminent leaders in business, finance, and politics about the world’s most pressing issues and priorities for the coming year.
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