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
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
OnCorps eyes AI-driven fund administration
The Boston-based vendor’s new CEO, Ron Allen, a BlackRock Aladdin alum, says domain-specific agentic AI can tackle fund administration’s messiest workflows.
How gatecrashers could spoil the tokenization party
Blockchain can curb settlement risks, but that could come at the expense of new third-party risks.
Smartstream launches agentic solution, SEC greenlights 23/5 trading for Cboe, and more
The Waters Cooler: A recap of the major tech and data news from the past week in the capital markets.
From the CIO seat: What it takes to build a super-connector bank
Markets are now more interconnected than ever, exacerbating some challenges. To help, there are three things firms should focus on, writes Gareth Hughes of Standard Chartered.
Waters Wavelength Podcast Ep. 353: ExeQution Analytics’s Cat Turley
This week, Cat Turley joins the podcast to discuss the gap between investment data and trading alpha.
‘Vibe coding is burning us out’
Vibe coding is rapidly spreading throughout the capital markets, and some are unhappy about it, while others believe the genie is out of the bottle. Engineers spoken to for this story share some choice words—and several expletives—about this new form of coding.
The enshittification of AI
The Waters Wrap: AI may look good to its developers, but there are a few problems lurking below the surface that might cause problems. Max Bowie explains.
Paxos wins temporary approval for blockchain clearing push
Blockchain infrastructure company will have a period of 18 months to “ramp up” readiness for operations, per the SEC’s approval letter.
