· 2 min read
illuminem summarises for you the essential news of the day. Read the full piece on The Wall Street Journal or enjoy below:
🗞️ Driving the news: BNY Mellon has introduced AI-powered “digital workers” with system logins and defined roles, operating alongside human employees in functions like coding and payment instruction validation
• These AI agents are managed like human staff and will soon gain access to enterprise tools such as email and Microsoft Teams
• JPMorgan Chase and others are developing similar systems but are proceeding more cautiously with access controls
🔭 The context: The financial sector is accelerating integration of AI into operational workflows, aiming to boost efficiency while maintaining security
• Unlike traditional software, digital workers mimic human workflows, prompting banks to develop new models for access management and supervision
• The trend reflects a shift from rule-based automation to more autonomous, decision-capable AI systems
🌍 Why it matters for the planet: AI’s integration into finance can streamline processes, potentially reducing resource-intensive operations
• However, it also raises questions about AI’s carbon footprint, particularly given the data center energy use required to support such systems
• As digital labor scales, balancing operational gains with sustainable computing will be essential
⏭️ What's next: BNY Mellon plans to expand AI roles into more complex tasks and deepen integration with human teams
• Banks across the sector are exploring the creation of AI assistants and client-facing AI concierges
• Meanwhile, regulators and companies will need to address governance, ethical use, and the evolving definition of a digital workforce
💬 One quote: “This is the next level… I’m sure in six months’ time it will become very, very prevalent,” – Leigh-Ann Russell, CIO, BNY Mellon
📈 One stat: JPMorgan already provides 230,000 employees with access to a proprietary AI chatbot, illustrating the rapid deployment of AI across its operations
See on illuminem's Data Hub™ the sustainability performance of JPMorgan Chase, BNY Mellon, and their peers Citigroup and Goldman Sachs
Click for more news covering the latest on greentech and sustainable finance
