Financial Performance Highlights - Revenue reached $26.5 billion, a 4% year-over-year increase[2] - Net income was $7.1 billion, up 3% year-over-year[2] - Earnings per share (EPS) increased by 7% year-over-year to $0.89[2] - The return on average common shareholders' equity (ROE) was 100% and return on average tangible common shareholders' equity (ROTCE) was 134%[2] Balance Sheet Strength - Deposits totaled $20 trillion, a 5% increase year-over-year[2] - The common equity tier 1 (CET1) ratio was 115%, exceeding regulatory minimums[2] - Global liquidity sources (GLS) averaged $938 billion[2] Business Segment Growth - Consumer investment assets increased by 13% year-over-year to approximately $540 billion[9] - Global Banking average deposits grew 15% year-over-year to over $600 billion[10] - Global Wealth & Investment Management (GWIM) client balances increased 10% year-over-year to $44 trillion, with assets under management (AUM) up 13%[9] Artificial Intelligence and Innovation - The company is leveraging AI to drive efficiencies across various operations, including customer service, content summarization, and code generation[11] - Over 50 AI-enabled fraud detection models are in use[11] - The company has approximately 1,400 AI and machine learning patents granted and pending[11] Net Interest Income and Outlook - Net interest income (NII) increased by 7% year-over-year to $147 billion[14] - The company expects net interest income to be approximately $155 billion-$157 billion in 4Q25[51] Asset Quality - Total net charge-offs were $15 billion[12] - The allowance for loan and lease losses represented 117% of total loans and leases[65]

Core Insights - Bank of America has integrated AI technology across its operations, significantly enhancing employee efficiency and client service [1][2][3] AI Implementation and Impact - Over 90% of Bank of America's employees utilize the AI-driven virtual assistant, Erica for Employees, which has reduced IT service desk calls by more than 50% [3] - Since its launch in 2018, Erica has been interacted with over 2.5 billion times, with 20 million active users [2] - AI tools like ask MERRILL® and ask Private Banking® have facilitated over 23 million interactions in 2024, improving employee-client engagement [4] Employee Productivity Enhancements - AI applications in onboarding and training have led to over 1 million simulations completed by employees, enhancing service delivery [4] - A GenAI-based tool for software developers has resulted in efficiency gains exceeding 20% in code writing and optimization [4] Technology Investment - Bank of America allocates $13 billion annually to technology, with approximately $4 billion earmarked for new initiatives in 2025 [8] - The company holds nearly 7,400 patents, with over 1,200 focused on AI and machine learning, representing 17% of its patent portfolio [6] Client Service Improvements - AI is utilized in call centers to summarize client interactions, improving efficiency and responsiveness to client needs [4][10] - A modernized desktop tool in contact centers enhances personalized client experiences and reduces call handling times [10]