BNY Mellon Partners with CMU for $10M AI Research Lab

BNY Mellon partners with Carnegie Mellon University to establish a $10 million AI research lab, focusing on robust governance and accountability in AI deployment within financial services. The partnership aims to bolster Pittsburgh's status as an AI innovation hub and support CMU's mission to cultivate future AI leaders. BNY Mellon's financial health is underscored by its revenue growth and profitability metrics, but the stock's price-to-book ratio is close to its 10-year high, and insider activity shows a trend of selling.

New York and Pittsburgh, Sept. 11, 2025 /PRNewswire/ -- BNY Mellon (NYSE: BK), a global financial services company, and Carnegie Mellon University (CMU) have announced a five-year, $10 million agreement to support world-class research and development in artificial intelligence (AI). The partnership, known as the BNY AI Lab, aims to advance AI applications and systems, with a focus on robust governance, trust, and accountability in financial services.

The collaboration will bring together students, faculty, and staff from CMU with BNY experts to develop technologies and frameworks that ensure the responsible deployment of mission-critical AI applications. The lab will leverage CMU's top-ranked programs in computer science, AI, and business, working alongside BNY to advance both theoretical and applied AI.

As part of the agreement, a dedicated research space will be established on CMU's Pittsburgh campus during the 2025-26 academic year. This space will support joint research, education projects, and talent recruitment, providing opportunities for BNY employees to collaborate directly with CMU students and faculty.

"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 Mellon'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."

The partnership 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 AI innovation hub, foster economic development across Western Pennsylvania, and support CMU's mission to cultivate the next generation of AI and data leaders.

Carnegie Mellon University's President, Farnam Jahanian, echoed the importance of the collaboration: "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. 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 Mellon's financial health is robust, with revenue growth and profitability metrics reflecting strong performance. However, the stock's price-to-book ratio is close to its 10-year high, and insider activity shows a trend of selling. Despite these considerations, the partnership with CMU underscores BNY Mellon's commitment to innovation and its role in shaping the future of AI in financial services.

This latest development underscores the long-term relationship between CMU and BNY Mellon, highlighted by BNY Mellon'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].

About BNY Mellon
BNY Mellon is a global financial services company that helps make money work for the world – managing it, moving it, and keeping it safe. For more than 240 years, BNY Mellon has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today, BNY Mellon helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally access the money they need. As of June 30, 2025, BNY Mellon oversees $55.8 trillion in assets under custody and/or administration and $2.1 trillion in assets under management. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, BNY Mellon has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators BNY and Carnegie Mellon University Join Forces to Advance Research and Development in AI^[2].

About Carnegie Mellon University
Carnegie Mellon University is a private, internationally ranked research university with acclaimed programs spanning the sciences, engineering, technology, business, public policy, humanities, and the arts. Our diverse community of scholars, researchers, creators, and innovators is driven to make real-world impacts that benefit people across the globe. With an unconventional, interdisciplinary, and entrepreneurial approach, we do the work that matters BNY Mellon (BK) Partners with CMU for $10M AI Research Lab^[3].

Media Contacts
BNY Mellon
Ryan Wells
+1 646-648-3887
ryanw@bny.com

CMU
Cassia Crogan
+1 412-628-2902
ccrogan@andrew.cmu.edu