AI Adoption by BofA's Global Workforce Improves Productivity, Client Service
Bank of America (BAC) reports significant progress in AI adoption across its global operations, with over 90% of its 213,000 employees now utilizing AI-driven virtual assistants. The company's AI initiatives have shown remarkable results, including:
The Erica virtual assistant has recorded 2.5 billion client interactions since 2018, with 20 million active users. The employee version has reduced IT service desk calls by more than 50%. The ask MERRILL and ask Private Banking tools logged 23 million interactions in 2024, up 1 million from 2023.
BAC holds nearly 7,400 patents, with over 1,200 focused on AI and machine learning. The company invests $13 billion annually in technology, with $4 billion allocated to new initiatives in 2025. Notable AI implementations include coding assistance yielding 20% efficiency gains, automated client meeting preparation saving thousands of hours, and GenAI-powered research summaries for trading teams.
Bank of America (BAC) riporta progressi significativi nell'adozione dell'IA nelle sue operazioni globali, con oltre il 90% dei suoi 213.000 dipendenti che ora utilizzano assistenti virtuali basati su IA. Le iniziative di IA dell'azienda hanno mostrato risultati notevoli, tra cui:
L'
BAC detiene quasi 7.400 brevetti, con oltre 1.200 focalizzati su IA e apprendimento automatico. L'azienda investe 13 miliardi di dollari all'anno in tecnologia, con 4 miliardi destinati a nuove iniziative nel 2025. Tra le implementazioni significative dell'IA ci sono assistenza alla codifica che ha portato a un guadagno di efficienza del 20%, preparazione automatizzata delle riunioni con i clienti che risparmia migliaia di ore e riassunti di ricerca potenziati da GenAI per i team di trading.
Bank of America (BAC) informa sobre avances significativos en la adopción de IA en sus operaciones globales, con más del 90% de sus 213,000 empleados utilizando ahora asistentes virtuales impulsados por IA. Las iniciativas de IA de la empresa han mostrado resultados notables, incluyendo:
El asistente virtual Erica ha registrado 2.5 mil millones de interacciones con clientes desde 2018, con 20 millones de usuarios activos. La versión para empleados ha reducido las llamadas al servicio de soporte IT en más del 50%. Las herramientas ask MERRILL y ask Private Banking registraron 23 millones de interacciones en 2024, un aumento de 1 millón respecto a 2023.
BAC posee casi 7,400 patentes, con más de 1,200 enfocadas en IA y aprendizaje automático. La empresa invierte 13 mil millones de dólares anuales en tecnología, con 4 mil millones asignados a nuevas iniciativas en 2025. Las implementaciones notables de IA incluyen asistencia en codificación que genera un aumento del 20% en eficiencia, preparación automatizada de reuniones con clientes que ahorra miles de horas, y resúmenes de investigación potenciados por GenAI para equipos de trading.
뱅크 오브 아메리카 (BAC)는 전 세계 운영에서 AI 채택이 상당한 진전을 보였으며, 213,000명의 직원 중 90% 이상이 이제 AI 기반 가상 비서를 사용하고 있다고 보고했습니다. 회사의 AI 이니셔티브는 주목할 만한 결과를 보여주었습니다. 그 중에는:
에리카 가상 비서는 2018년 이후 25억 건의 고객 상호작용을 기록했으며, 현재 2천만 명의 활성 사용자가 있습니다. 직원 버전은 IT 서비스 데스크 호출을 50% 이상 줄였습니다. ask MERRILL 및 ask Private Banking 도구는 2024년에 2,300만 건의 상호작용을 기록했으며, 이는 2023년보다 100만 건 증가한 수치입니다.
BAC는 거의 7,400개의 특허를 보유하고 있으며, 그 중 1,200개 이상이 AI 및 기계 학습에 집중되어 있습니다. 회사는 매년 기술에 130억 달러를 투자하고 있으며, 2025년에는 40억 달러가 새로운 이니셔티브에 할당될 예정입니다. 주목할 만한 AI 구현 사례로는 20%의 효율성 향상을 가져온 코드 지원, 수천 시간을 절약하는 고객 회의 준비 자동화, 및 거래 팀을 위한 GenAI 기반의 연구 요약이 있습니다.
Bank of America (BAC) fait état de progrès significatifs dans l'adoption de l'IA à travers ses opérations mondiales, avec plus de 90 % de ses 213 000 employés utilisant désormais des assistants virtuels alimentés par l'IA. Les initiatives IA de l'entreprise ont montré des résultats remarquables, notamment :
L'assistant virtuel Erica a enregistré 2,5 milliards d'interactions avec les clients depuis 2018, avec 20 millions d'utilisateurs actifs. La version pour les employés a réduit les appels au service d'assistance informatique de plus de 50 %. Les outils ask MERRILL et ask Private Banking ont enregistré 23 millions d'interactions en 2024, soit 1 million de plus qu'en 2023.
BAC détient près de 7 400 brevets, dont plus de 1 200 axés sur l'IA et l'apprentissage automatique. L'entreprise investit 13 milliards de dollars par an dans la technologie, dont 4 milliards sont alloués à de nouvelles initiatives en 2025. Parmi les mises en œuvre notables de l'IA figurent l'assistance à la programmation, qui génère des gains d'efficacité de 20 %, la préparation automatisée des réunions avec les clients, qui permet d'économiser des milliers d'heures, et des résumés de recherche alimentés par GenAI pour les équipes de trading.
Bank of America (BAC) berichtet von erheblichen Fortschritten bei der Einführung von KI in seinen globalen Betrieben, wobei über 90 % der 213.000 Mitarbeiter jetzt KI-gesteuerte virtuelle Assistenten nutzen. Die KI-Initiativen des Unternehmens haben bemerkenswerte Ergebnisse gezeigt, darunter:
Der virtuelle Assistent Erica hat seit 2018 2,5 Milliarden Kundeninteraktionen aufgezeichnet, mit 20 Millionen aktiven Nutzern. Die Mitarbeiter-Version hat die Anrufe beim IT-Service-Desk um mehr als 50 % reduziert. Die Tools ask MERRILL und ask Private Banking verzeichneten 2024 insgesamt 23 Millionen Interaktionen, eine Steigerung um 1 Million im Vergleich zu 2023.
BAC hält fast 7.400 Patente, von denen über 1.200 auf KI und maschinelles Lernen fokussiert sind. Das Unternehmen investiert jährlich 13 Milliarden Dollar in Technologie, wobei 4 Milliarden Dollar für neue Initiativen im Jahr 2025 vorgesehen sind. Zu den bemerkenswerten KI-Implementierungen gehören Unterstützung beim Programmieren, die eine Effizienzsteigerung von 20 % erzielt, automatisierte Vorbereitung von Kundenmeetings, die Tausende von Stunden spart, und von GenAI unterstützte Forschungszusammenfassungen für Handelsteams.
- 90% employee adoption of AI virtual assistants with 50% reduction in IT service desk calls
- 2.5 billion client interactions through Erica virtual assistant
- 23 million interactions with ask MERRILL and ask Private Banking tools in 2024
- 20% efficiency improvement in software development through AI
- Strong patent portfolio with 1,200+ AI-focused patents
- $13 billion annual technology investment with $4 billion for new initiatives
- High technology investment costs requiring significant capital allocation
- Heavy reliance on AI systems could pose operational risks if systems fail
Insights
Bank of America's systematic AI implementation represents a textbook example of effective enterprise-wide technology adoption rather than disconnected innovation projects. The
The efficiency metrics are particularly compelling:
BofA's AI implementation spans both customer-facing applications (2.5 billion Erica interactions) and internal operational systems (coding assistance, meeting preparation, research synthesis). This dual-focus approach maximizes return on their technology investment by simultaneously enhancing revenue opportunities and reducing operational costs.
Their 1,200+ AI/ML patents (comprising
Most importantly, BAC's approach includes human oversight and accountability - critical elements that reduce regulatory and implementation risks while maximizing adoption and effectiveness.
BofA's AI strategy addresses three critical challenges facing major financial institutions: operational efficiency, personalized service delivery, and employee productivity - all while maintaining human oversight and regulatory compliance.
The operational efficiency gains are substantial and measurable. The
On the client service front, the 23 million interactions with ask MERRILL and ask Private Banking tools enable wealth management teams to provide more responsive and consistent client experiences. The AI-powered call summary capability ensures client feedback is captured systematically rather than haphazardly.
What's particularly notable is how BofA has embedded AI across their entire value chain - from employee training (1 million conversation simulations) to client-facing tools to back-office operations. This comprehensive approach creates compounding benefits rather than isolated improvements.
While many financial institutions discuss AI aspirationally, BofA demonstrates practical, large-scale implementation with concrete metrics. The
More than
"AI is having a transformative effect on employee efficiency and operational excellence," said Aditya Bhasin, Chief Technology & Information Officer at Bank of America. "Our use of AI at scale and around the world enables us to further enhance our capabilities, improve employee productivity and client service, and drive business growth."
Seven years ago, in 2018, Bank of America launched Erica®, the first widely adopted AI-driven virtual financial assistant, within its mobile app. Since then, clients have interacted with Erica more than 2.5 billion times, with 20 million clients now actively using the virtual assistant.
Bank of America's approach to AI includes human oversight, transparency, and accountability for all outcomes. In addition to recently shared examples of how AI benefits clients and employees, our employees' use of AI continues to expand in areas such as:
- Erica for Employees – Building upon Erica's success, in 2020, Bank of America launched Erica for Employees, an AI-driven internal virtual assistant which was rapidly adopted during the pandemic by employees seeking technology support in areas such as mobile device password reset, device activation, and many others. In 2023, the functionality was expanded to assist with additional topics such as where to review health benefits, locate payroll and tax forms, and more.
Today, over90% of employees use Erica for Employees, with the virtual assistant having reduced calls into the IT service desk by more than50% . The capabilities will expand this year to offer enhanced search and assistance across a broader set of topics – including answers to employee questions about Bank of America products and services – with plans to leverage both AI and generative AI (GenAI).
- ask MERRILL® and ask Private Banking® – Leveraging the technology behind Erica, these tools help Merrill and Bank of America Private Bank teams efficiently curate information to deliver superior client experiences. When needed, the chat functionality can also connect teams with experts at the bank for help with more complex requests. In 2024, there were more than 23 million interactions with ask MERRILL and ask Private Banking, an increase of 1 million over 2023, helping employees more proactively connect with clients about timely and relevant opportunities.
- Capturing client feedback – This internally-developed GenAI capability is used by Bank of America call centers to summarize call recordings, which helps increase efficiency and ensure the company remains in tune with clients' needs and improves their experiences. Previously, teammates would manually generate these summaries. Future enhancements this year will extend to other communication channels.
- The Academy – Bank of America's onboarding, education, and professional development organization uses AI to provide interactive coaching through conversation simulators that enable teammates to practice different types of client interactions and increase proficiency through real-time feedback. Employees completed over 1 million simulations last year, with many noting that practicing client conversations helps them deliver better and more consistent service.
Additional AI deployments underway helping to increase employee productivity and improve client service include:
- Coding assistance – Bank of America software developers are using a GenAI-based tool to assist with code writing and optimization, through which they have experienced efficiency gains of over
20% .
- Preparing for client meetings – Developing materials in preparation for meetings with current and prospective business clients can take several hours per meeting. AI helps automate and standardize the creation of drafts of materials for meetings with Bank of America Business Banking and Global Commercial Banking clients, with the opportunity for employees to reallocate tens of thousands of hours per year to client engagement and growth.
- Contact center optimization – A modernized desktop tool leveraging AI proactively provides guided assistance to customer service specialists in Bank of America contact centers, enabling them to deliver a more personalized client experience, increase client satisfaction, and reduce call handling times.
- Research summaries – An internally-developed GenAI platform enables the Global Markets sales and trading team to search, summarize, and synthesize our industry-leading research and market commentary more quickly and efficiently.
AI Patent Portfolio
Bank of America holds nearly 7,400 granted patents and pending patent applications, the most
Other technology categories in which new patents were granted last year include information security, online and mobile banking, payments, data analytics, and augmented and virtual reality. This is thanks to the company's more than 7,800 talented inventors in 14 countries and 42 U.S. states, and a culture that empowers teammates to explore and develop innovative solutions for individuals and businesses globally.
Bank of America spends
Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in
Reporters May Contact:
Matt Card, Bank of America
Phone: 1.202.579.6879
matthew.card@bofa.com
Catherine Page, Bank of America
Phone: 1.704.519.7314
catherine.page@bofa.com
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SOURCE Bank of America Corporation
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