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How Bank Of America’s Erica Boosted Earnings by 19% and What’s Coming Next

The bank wants to keep improving its AI skills in order to give consumers more individualised and effective services, increase operational efficiency, and keep its top spot in the financial industry.
Bank of America (BofA) has been leading in integrating artificial intelligence (AI) into its operations, leveraging these technologies to enhance customer service, streamline operations, and drive financial growth. By displaying a strong commitment to technical innovation and adopting a methodical and strategic approach to implementation, Bank of America (BofA) has been making noteworthy progress in integrating artificial intelligence (AI) and generative AI into its operations as of 2024. BofA wants to improve AI capabilities for both customers and workers, and it expects to invest $4 billion in technology efforts, a significant chunk of which is devoted to AI projects. This strategic focus extends beyond cost-cutting tactics, aiming to improve operational efficiency and customer relations
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Anshika Mathews
Anshika is the Senior Content Strategist for AIM Research. She holds a keen interest in technology and related policy-making and its impact on society. She can be reached at anshika.mathews@aimresearch.co
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