BNY Mellon Reflects on 'AI for Good' Solutions
APRIL 11, 2024
This month, BNY Mellon kicked off Community Month, which highlights the impact employee volunteerism has on uplifting and empowering the communities where they live and work.
As part of the month’s activities, BNY Mellon is honoring the recognition its AI Hub team received last year from Microsoft and the British Red Cross for its “AI for Good” work. BNY Mellon’s AI Hub is a centralized team that brings together data science, AI and machine learning talent to incubate, develop and deploy solutions at scale.
More than 100 BNY Mellon AI Hub employees dedicated more than 2,000 hours over three days to Microsoft’s Global Hackathon in September – earning BNY Mellon the distinction as the largest customer participant in the 10-year history of the hackathon. BNY Mellon was represented across 18 teams spanning three continents. It also worked with the British Red Cross during the competition, ultimately developing 13 solutions designed to address the urgent need for smarter, quicker and more efficient aid delivery.
A team of eight BNY Mellon AI Hub employees was recognized by the Microsoft Global Hackathon – the largest private hackathon on the planet – in the Executive Challenge called ‘Hack for Social Impact with AI’. Their project, Early Warning and Monitoring System for Humanitarian Crisis Response, was designed to channel artificial intelligence toward humanitarian good and social change. It was a finalist for innovative use of AI technologies to help communities prepare for, respond to and recover from crises.
Another team of seven BNY Mellon AI Hub employees who developed a decision-making tool to strategically manage relief efforts during the hackathon was subsequently chosen by the British Red Cross for its Best Product Fit designation.
“I’m incredibly proud of the innovative work of our colleagues who participated in the Microsoft Global Hackathon,” said Bridget Engle, Chief Information Officer and Global Head of Engineering, BNY Mellon. “This was a unique opportunity to showcase our dynamic, inclusive culture and for our firm to lend our AI skill sets and capabilities to an important cause.”
"Consulting with BNY Mellon during the Microsoft Global Hackathon provided us with new perspectives and technologies that can help with our 100+ year old mission – to alleviate suffering and help disaster-affected communities prepare, respond and recover from crises,” said Luke Caley, Information Management Lead, International Federation of Red Cross and Red Crescent Societies.
“Our collaboration with BNY Mellon continues to evolve beyond a commercial relationship – it is an alliance that drives measurable, positive change for the world," said Karen Del Vescovo, Corporate Vice President & U.S. Financial Services Lead, Microsoft.
Microsoft’s Global Hackathon is a multi-day, global event that that brings people from all over the world together to create, innovate and hack on ideas that inspire them.
To learn more about BNY Mellon’s artificial intelligence solutions and capabilities, visit our artificial intelligence page.