Bank of America Reports Impressive Demand for AI Driven Financial Assistant

Bank of America Corporation (NYSE: BAC) reported interesting statistics regarding its artificial intelligence (AI) – driven virtual financial assistant, Erica . According to the bank, the virtual assistant has surpassed 10 million since its nationwide launch earlier in summer 2018, and it is currently on track to complete 100 million client requests. Now, there are several updates to Erica's software. The latest enhancements include a new Refund Confirmation Insight through which clients are proactively notified when a merchant refund is posted and available to use in their checking, savings or credit card accounts. "Erica is ushering in a new era of personalized banking and providing our clients never-before-possible convenience," said David Tyrie, head of advanced solutions and digital banking at Bank of America.