Carnegie Mellon University (CMU) and BNY, a global financial services company, recently agreed to a five-year, $10 million partnership to support artificial intelligence (AI) research and development.
“Artificial Intelligence has emerged as one of the single most important intellectual developments of our time, and it is rapidly expanding into every sector of our economy,” Farnam Jahanian, Carnegie Mellon president, said. “Carnegie Mellon University is thrilled to collaborate with BNY — a global financial services powerhouse — to responsibly develop and scale emerging AI technologies and democratize their impact for the benefit of industry and society at large.”
The research collaboration, BNY AI Lab, will focus on developing technologies and frameworks that can ensure mission-critical AI applications have the governance, trust and accountability required to deploy. The partnership’s goal is to ensure AI delivers measurable benefits for clients, institutions and the broader financial ecosystem. It also aims to accelerate the path from research to scalable practices.
A dedicated space for BNY AI Lab will be created on CMU’s Pittsburgh campus during the 2025–26 academic year and will include joint research, education projects, and talent recruitment. University students, faculty and staff will work with BNY experts to advance AI applications and systems.