DAVOS: AI Use Is Now Sink or Swim for Business, BNY CEO Says -- Market Talk
Dow Jones
Jan 21
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)
Copyright (c) 2026 Dow Jones & Company, Inc.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.