All news articles
Lorikeet News Desk
Jul 9, 2025
TL;DR
Bank of New York Mellon deploys AI-powered "digital workers" with company logins and human managers for tasks like coding and payment validation.
BNY's AI initiative is part of a broader Wall Street trend to integrate AI into core operations, with JPMorgan and Goldman Sachs also adopting AI tools.
The move to treat AI as employees raises questions about management, security, and the future of work in the financial industry.
Bank of New York Mellon is deploying AI-powered "digital workers" with their own company logins and human managers to work on tasks like coding and payment validation, as first reported by The Wall Street Journal. The move represents a significant step in integrating AI not just as a tool, but as an active participant in the corporate workforce.
Meet your new coworker: These aren't just glorified macros. BNY's CIO, Leigh-Ann Russell, told the Journal that the digital workers operate autonomously and will eventually get their own email accounts to communicate via Microsoft Teams. The bank's AI Hub created the first two personas—one for patching code, one for validating payments—in just three months, with each instance sandboxed within a specific team to limit data access.
An AI arms race: BNY's approach is part of a broader push across Wall Street to embed AI into core operations. JPMorgan Chase already gives nearly a quarter of a million employees access to an internal AI chatbot and envisions a future where every employee has a digital assistant. While other firms like Goldman Sachs have launched internal AI assistants for summarizing documents, BNY’s move to grant AI a full corporate identity is a more aggressive step.
The bottom line: By treating AI as an employee rather than just software, BNY Mellon is forcing the financial industry to create an entirely new operating model for a hybrid human-digital workforce, raising fundamental questions about management, security, and the future of work itself.
Reading Recap:
Also on our radar: The shift toward a digital workforce is raising bigger questions across the financial sector. Experts at McKinsey are urging banks to move beyond isolated experiments and fundamentally "rewire" their operations with advanced AI. The trend also has a human cost, with reports suggesting AI could replace hundreds of thousands of jobs on Wall Street. Meanwhile, other institutions like Bank of America are pursuing their own strategies, with over 90% of its employees already using an internal AI assistant to boost productivity.
