BofA ramps up AI deployment, patents
The bank has 1,400 patents in AI and machine learning, either granted or pending, alongside a growing portfolio of 250 models.
Bank of America is deploying AI agents and co-pilots across its business in growing areas, including coding and trade reconciliation, CEO Brian Moynihan told investors during the bank’s Q2 earnings call on July 16.
“We think about the way we apply artificial intelligence and augmented intelligence in four different pillars,” Moynihan said. “AI agents, search and summarization, content generation, and—importantly—coding and automated processes.”
In 2018, following internal development, BofA
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