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Artificial intelligence in Pittsburgh
Cleveland Fed president and chief executive officer Beth M. Hammack learned about artificial intelligence research and development taking place in Pittsburgh during a recent visit.
For more than 150 years, BNY (The Bank of New York Mellon) has had a presence in Pittsburgh. The city is currently home to the bank’s largest office in the United States.
BNY is based in New York City and is not supervised by the Cleveland Fed.
Recently, Cleveland Fed president and CEO Beth Hammack met with employees and executives at BNY’s newly renovated office space in Pittsburgh’s downtown business district. BNY officials gave Hammack and Cleveland Fed staff a tour of the new space.
Beth Hammack tours the newly renovated BNY office space in Pittsburgh (November 14, 2025)
During Hammack’s visit, she learned about the company’s investment in the city and its efforts to research, develop, and implement artificial intelligence tools.
According to research from the St. Louis Fed, nearly 55 percent of US adults ages 18 to 64 used generative AI in August 2025. The end of this period marked about three years since the first mass-market generative AI product, Chat GPT, was introduced.
To put that in perspective, generative AI’s adoption rate is much higher than that of other technologies, including personal computers and the Internet, in the years following their launch.
Personal computers had an adoption rate of nearly 20 percent, while the Internet saw an adoption rate of about 30 percent over a similar timeframe of roughly three years after initial launch.
Beth Hammack tours the newly renovated BNY office space in Pittsburgh (November 14, 2025)
BNY has also joined forces with Carnegie Mellon University (CMU) to support further AI research and development over the next five years. The collaboration is called the BNY AI Lab.
In 2018, CMU’s School of Computer Science began offering a Bachelor of Science in artificial intelligence, the first such degree of its kind in the country.
Several recent graduates of that program, along with students from CMU and Duquesne University, asked Hammack questions during a fireside chat she held with the Economic Club of Pittsburgh.
Beth Hammack reacts to a student question during a Pittsburgh Economic Club fireside chat (November 14, 2025)
Beth Hammack poses with students following a Pittsburgh Economic Club fireside chat (November 14, 2025)
The conversation focused on Hammack’s views on monetary policy and on the Fed’s four other main functions: promoting stability within the financial system, supervising and regulating banks, fostering safe and efficient payments systems, and promoting consumer protection and community development.
Beth Hammack speaks to attendees before and after a Pittsburgh Economic Club fireside chat (November 14, 2025)
Beth Hammack speaks to attendees before and after a Pittsburgh Economic Club fireside chat (November 14, 2025)
About President Beth M. Hammack’s Around the District tour
President Hammack is visiting communities across the Fourth District as part of her Around the District tour to meet and connect with the people who live and work in all corners of the region and to gain a better understanding of how the economy is working in different communities. The Cleveland Fed, with branches in Cincinnati and Pittsburgh, serves an area that comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. Hammack will use this information to inform her policy views and better represent the Fourth District around the Federal Open Market Committee table.