How Bank of America uses AI

Bank of America's EricaAssist is an AI agent that runs as a desktop widget for customer service representatives during client calls. It tells the representative why the client is calling, gathers relevant information and suggests next steps, and in July 2026 the bank added generative AI so it can make recommendations in real time. More than 18,000 representatives use it, and the bank reports it shortens average call times by almost one minute per interaction.

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. Merrill's head of platforms and capabilities told Wealth Management that more than 1,500 advisors used the tool in beta, with the fastest adoption of any tool the firm has rolled out in recent years.

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 center volume. Bank of America says Erica selects answers from a predefined set and does not use generative AI or large language models.

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 center tools. The bank does not name the underlying model or vendor.

The Academy, Bank of America's onboarding, education and professional development organization, uses AI conversation simulators in which employees practice 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 practicing client conversations helps them deliver better and more consistent service. No proficiency or client outcome figures are published.

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.

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 specialized 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.

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.

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.