America’s oldest bank bets big on AI

America’s oldest bank is going all in on AI. BNY spends nearly $4 billion a year on technology, or about 19 percent of its revenue – a proportion far higher than any of its big-bank peers. But the big concern around the bank industry’s AI spending right now is what the return will be. CNBC’s Leslie Picker dives into BNY’s latest AI efforts and what it could mean for the future of the firm.