09:04 AM EDT, 09/11/2025 (MT Newswires) -- Bank of New York Mellon ( BK ) said Thursday it entered a five-year, $10 million collaboration with Carnegie Mellon University to advance research and development in artificial intelligence.

Under the collaboration, called "BNY AI Lab," the university and the bank will work to advance both theoretical and applied AI, the company said.

The agreement includes the creation of a dedicated space on CMU's Pittsburgh campus during the 2025-26 academic year to support joint research, education projects and talent recruitment, BNY said.