1123 GMT - Integrating artificial intelligence into business is becoming a question of survival, Bank of New York Mellon boss Robin Vince tells an audience during the World Economic Forum at Davos, Switzerland. "At BNY, we are doing things that cost 1% or 2% of what they cost a year ago," Vince says on a Bloomberg panel at the annual meeting, referring to the use of AI for business functions. That makes integration of AI an existential question for businesses, he notes. "You can't compete with a company that is doing something for 1% of the cost," he says. (joshua.kirby@wsj.com; @joshualeokirby))

(END) Dow Jones Newswires

January 21, 2026 06:23 ET (11:23 GMT)

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