BNY says it now tracks its AI token spending to avoid overpaying
BNY Mellon, according to CFO Dermot McDonogh, has developed internal tools to monitor AI token consumption and intelligently route tasks to appropriate models. The bank operates approximately 400 AI agents and allocates $4 billion annually to technology spending overall. This cost-tracking effort reflects broader pressure on financial institutions to manage rising AI expenses amid increased deployment of AI systems.
Key points
- BNY built tools to track and optimize AI token spending
- Bank runs ~400 AI agents on $4B annual technology budget
- Addresses rising cost pressure from widespread AI adoption in banking
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