As traditional banks face increasing competition from fintechs, they're adapting through technological innovations and new workforce strategies. BNY Mellon, the oldest bank in the U.S., has partnered with OpenAI to harness artificial intelligence for operational improvements. Their in-house platform, Eliza, is now used by over half of its employees for various applications. Similarly, Citi is prioritizing workplace flexibility to attract talent. These actions reflect a critical shift in banking: adapt to new realities or risk becoming irrelevant.
Big banks are playing offense. Fintech competition, tech leaps, and workforce expectations are evolving - so should banks.
By integrating OpenAI's most advanced models launched this year, BNY is supercharging Eliza with next-gen capabilities.
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