How will AI change the way we work? Finance giant BNY and University of Manchester launch £5m project to find out

Project aims to help solve real-world problems with university’s tech expertise

Banking giant BNY has teamed up with the University of Manchester on a £5m project to understand exactly how AI could change the way we work.

They have launched the five-year Future of Work Alliance to design and test new models “for the responsible use and application of AI” in global firms that rely on data. It aims to use the university’s academic work to help solve real world business problems.

Manchester is one of BNY’s six global hubs and the financial services company employs some 2,000 people there. This year it will move into a new hub in the ten-storey 4 Angel Square building in NOMA, opposite New Century Hall.

The team behind the new alliance says it will combine BNY’s work deploying AI globally with the university’s “deep strengths in applied AI, data science and inclusive innovation”.

The project will be delivered through the Alliance Manchester Business School and backed by the university’s innovation arm, Unit M. As well as real world problem-solving work, the project will also include executive and professional education programmes for business leaders focused on AI adoption. There will also be postgraduate internships, scholarships and a keynote lecture series.

Alejandro Perez, chief operating officer of BNY, said: “One of the challenges for organisations is how AI can be scaled in complex environments. The Future of Work Alliance connects our operational reality with The University of Manchester’s world‑class research and talent pipeline to build the foundations for human‑led digital transformation at scale.”

Professor Duncan Ivison, president and vice‑chancellor of The University of Manchester, said: “AI is transforming work globally, and this alliance brings our highly talented researchers, students and our civic mission together with BNY’s experience of deploying AI responsibly at scale.

“The Alliance shows how universities and industry can work together to build trusted approaches to AI, develop future skills and deliver long‑term economic and social value for Manchester and beyond.”

Lord Stockwood, Minister for Investment at the Department for Business and Trade, said: “BNY’s £5 million initiative with The University of Manchester is excellent news for Manchester and the wider region, building on the firm’s long-standing contribution to the local economy.

“The Future of Work Alliance is a clear example of our Industrial Strategy in action – bringing together a global financial leader and a top UK university to drive AI innovation, develop future skills and strengthen regional growth, helping secure the UK’s position as a leading destination for investment.”

Joe Manning, managing director of Invest Manchester, said: “BNY’s story in Manchester is one of the best examples of what long-term investment in a place looks like. Having arrived in 2005, they have grown into one of the city’s largest financial services employers.

“BNY’s growing presence, alongside The University of Manchester’s research and talent, makes this an exciting initiative for the city. Manchester is the most AI-ready city in the UK, and this alliance will bring together two institutions with the experience and credibility to tackle the questions around AI that businesses are facing right now.”