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BNY and OpenAI strike deal to develop AI platform

According to a Wall Street Journal (WSJ) report, the deal will give BNY, previously known as Bank of New York Mellon, access to OpenAI’s numerous resources including Deep Reseach, a web-browsing tool that has just been rolled out to all ChatGPT users.

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The report quotes Sarthak Pattanaik, head of BNY’s AI hub, as saying: “We feel AI has transformational power and will be part of every product and service.

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In return, OpenAI will gain more insight into how its models perform when carrying out complex tasks in real-world situations, according to the WSJ report. 

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OpenAI’s chief operating officer Brad Lightcap cited the banking sector as one of the most prolific users of AI as well as a recruiter of top talent and a filer of numerous AI-related patents. 

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“We’ve felt a lot of pull and a lot of demand there,” said Lightcap. “I don’t suspect that’s going to let up.”

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