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]