How Bank of America uses AI

Merrill Wealth Management and Bank of America Private Bank rolled out an AI meeting solution at full scale in March 2026. It consolidates client relationship insights and recent activity into meeting preparation material, takes notes in virtual meetings with client consent, and turns the decisions into a summary, tasks and documentation afterwards. The bank says the capability can save advisors up to four hours per meeting; it presents this as potential, not as a measured result, so it is not recorded as a metric here.

No outcome disclosed.

Erica, launched in 2018, is Bank of America's virtual financial assistant in its Mobile Banking app. Beyond answering questions it delivers proactive, personalized insights: BankAmeriDeals cash back deals based on the client's spending, where balances are trending over the next seven days and eligibility for the Preferred Rewards program. It also gives guidance on investment topics for Merrill clients and hands off to people by scheduling appointments. The bank reports that clients have received and interacted with more than 1.7 billion of these insights, and that most users find the information they need, which it links to lower call centre volume. Bank of America says Erica selects answers from a predefined set and does not use generative AI or large language models.

• Users served: about 50 million, since launch in 2018, as of August 2025

  "assisting nearly 50 million users since launch, surpassing 3 billion client interactions, and now averaging more than 58 million interactions per month"

  Claimed by: organization
• Interactions handled: at least 3 billion, client interactions since launch in 2018, as of August 2025

  "surpassing 3 billion client interactions"

  Claimed by: organization

Bank of America software developers use a generative AI tool that helps them write and optimize code. The bank reported the efficiency gain in its April 2025 update on how its workforce uses AI, alongside its internal assistants and contact centre tools. The bank does not name the underlying model or vendor.

• Productivity gain: at least 20%

  "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%."

  Claimed by: organization

The Academy, Bank of America's onboarding, education and professional development organization, uses AI conversation simulators in which employees practise different types of client interactions and receive real time feedback. The bank reports more than one million simulations completed in 2024 and says many employees note that practising client conversations helps them deliver better and more consistent service. No proficiency or client outcome figures are published.

• Interactions handled: at least 1 million, simulations completed by employees in 2024

  "Employees completed over 1 million simulations last year, with many noting that practicing client conversations helps them deliver better and more consistent service."

  Claimed by: organization

Merrill and Bank of America Private Bank teams use ask MERRILL and ask PRIVATE BANK, built on the technology behind Erica, to curate the information they need for clients. For more complex requests, the chat can connect teams with experts at the bank. The bank reports more than 23 million interactions with the two tools in 2024.

• Interactions handled: at least 23 million, calendar year 2024

  "In 2024, there were more than 23 million interactions with ask MERRILL and ask PRIVATE BANK, an increase of 1 million over 2023, helping employees more proactively connect with clients about timely and relevant opportunities."

  Claimed by: organization

Bank of America brought the AI behind its Erica assistant into CashPro Chat, the service assistant inside the CashPro platform that corporate and commercial clients use for payments, deposits, loans and trade. It finds transactions and account information, guides users through the platform and routes complex requests to specialised service teams. After the Erica integration, chat volume rose 41% on the 2023 weekly average while chats with a live agent fell 16%. In August 2025 the bank said 65% of CashPro clients use CashPro Chat and that Erica handles more than 40% of client interactions in it.

• Contact deflection: 16%, chats with a live agent since the Erica integration, while chat volume rose 41% compared to the 2023 weekly average

  "Since launch, chat volume increased by 41% compared to the 2023 weekly average. Meanwhile, chats with a live agent decreased by 16%."

  Claimed by: organization

Bank of America launched a cash forecasting solution that uses machine learning in January 2022, offered to business clients in its CashPro platform as CashPro Forecasting. The bank reports fast adoption rather than accuracy: from the first half of 2022 to the first half of 2023, new client enrollments rose 141%, active users 105% and sign ins among those users 375%. The same release describes enhancements to CashPro Chat, a virtual service advisor in CashPro that now uses the same AI and machine learning capabilities as Erica, the bank's consumer assistant.

No outcome disclosed.

Bank of America launched Erica for Employees in 2020, building on its customer facing assistant, to give staff technology support such as mobile device password resets and device activation. In 2023 it was extended to HR topics such as where to review health benefits and how to find payroll and tax forms. The bank reports that most employees use it and that it has more than halved calls into the IT service desk.

• Employee adoption: at least 90%, as of April 2025

  "Today, over 90% of employees use Erica for Employees, with the virtual assistant having reduced calls into the IT service desk by more than 50%."

  Claimed by: organization
• Contact deflection: at least 50%, calls into the IT service desk, as of April 2025

  "Today, over 90% of employees use Erica for Employees, with the virtual assistant having reduced calls into the IT service desk by more than 50%."

  Claimed by: organization