Bank of America Revolutionizes Services with AI
Bank of America (BofA) is transforming its services with artificial intelligence, particularly generative AI (GenAI). The bank's Global Payments Solutions (GPS) team is leveraging AskGPS, an in-house GenAI assistant, to serve its 40,000 business clients worldwide. This innovation is saving tens of thousands of employee hours annually by providing real-time answers to complex client questions.
BofA is enhancing its Capital Markets Insights feature with AI. This mobile-friendly tool offers a centralized view of market and issuance data for Investment Grade Capital Markets. It includes the proprietary AI-driven Trade Evaluation Driver, which provides an objective score for debt issuance decisions. By automating routine tasks, BofA's AI innovations allow employees to focus on creativity, conversation, and addressing complex client needs.
The leader of the Global Payments Solutions team at BofA uses AskGPS to handle complex customer queries. This AI-driven approach ensures swift and accurate responses, freeing up staff time for more intricate tasks.
Bank of America's embrace of generative AI is revolutionizing its services. Through AskGPS and Capital Markets Insights, the bank is streamlining processes, improving efficiency, and enabling employees to focus on high-value activities. This strategic shift is set to benefit both the bank and its clients.
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