Carnegie Mellon University and BNY Partner to Advance AI Research and Development with $10 Million Agreement

BNY Mellon and Carnegie Mellon University have partnered for a five-year, $10 million research collaboration to advance AI applications and systems in financial services. The BNY AI Lab will focus on developing technologies for robust governance, trust, and accountability, preparing the next generation of AI leaders, and fostering economic development in Pittsburgh. The collaboration will combine CMU's AI research expertise with BNY's scale and expertise as a global financial institution.

Pittsburgh, Sept. 10, 2025 — BNY Mellon (NYSE: BK) and Carnegie Mellon University (CMU) have announced a five-year, $10 million partnership to advance artificial intelligence (AI) applications and systems in financial services. The collaboration, known as the BNY AI Lab, aims to develop technologies for robust governance, trust, and accountability in AI, while preparing the next generation of AI leaders and fostering economic development in Pittsburgh BNY and Carnegie Mellon University Join Forces to Advance Research and Development in AI^[1].

The BNY AI Lab will leverage CMU's top-ranked programs in computer science, AI, and business to advance both theoretical and applied AI research. BNY Mellon will support cross-disciplinary courses and talent recruitment across all CMU schools and colleges. A dedicated space will be created on CMU's Pittsburgh campus to facilitate joint research, education projects, and talent recruitment BNY and Carnegie Mellon University Join Forces to Advance Research and Development in AI^[1].

The collaboration seeks to accelerate the path from research to scalable practices, ensuring AI delivers measurable benefits for clients, institutions, and the broader financial ecosystem. It also aims to strengthen Pittsburgh's position as a global hub for AI advancement, fostering economic development across Western Pennsylvania BNY and Carnegie Mellon University Join Forces to Advance Research and Development in AI^[1].

"As AI drives productivity, unlocks growth, and transforms industries, Pittsburgh has cemented its role as a global hub for innovation and talent," said Robin Vince, CEO of BNY Mellon. "Building on BNY's 150-year legacy in the Commonwealth, we are proud to expand our work with Carnegie Mellon University to help attract world-class talent and pioneer AI research with an impact far beyond the region" BNY and Carnegie Mellon University Join Forces to Advance Research and Development in AI^[1].

"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," said Farnam Jahanian, President of Carnegie Mellon. "Carnegie Mellon University is thrilled to collaborate with BNY Mellon – 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" BNY and Carnegie Mellon University Join Forces to Advance Research and Development in AI^[1].

In addition to the AI Lab, BNY Mellon and CMU have a long-term relationship, highlighted by BNY's position as the largest employer of graduates from CMU's Master of Science in Artificial Intelligence and Innovation (MSAII) program BNY and Carnegie Mellon University Join Forces to Advance Research and Development in AI^[1].

This collaboration underscores BNY Mellon's commitment to leveraging AI to enhance its services and CMU's dedication to advancing AI research and education. The partnership promises to bring significant advancements in AI governance, trust, and accountability, positioning Pittsburgh as a leading hub for AI innovation.

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References:

BNY and Carnegie Mellon University Join Forces to Advance Research and Development in AI^[1] "BNY and Carnegie Mellon University Join Forces to Advance Research and Development in AI," PR Newswire, September 11, 2025.