Bank of America’s big bet on AI started small
CIO Business Intelligence
APRIL 25, 2025
Bank of America will invest $4 billion in AI and related technology innovations this year, but the financial services giants 7-year-old homemade AI agent, Erica, remains a key ROI generator , linchpin for customer and employee experience , and source of great pride today. Few used the term agent, let alone agentic AI , in 2018, but the bank built a team of software engineers, linguistic specialists, and banking experts to create the small language model, which has been tuned over the years using
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