On Monday, Harry Gopalakrishnan, the Chief Technology and Information Officer at Bank of America, disclosed that the bank is set to channel billions of dollars into technological advancements, particularly in the realm of artificial intelligence (AI). This strategic move is geared towards boosting employee productivity and amplifying revenue streams. Earlier in the month, Bank of America conveyed to investors its intention to earmark $4 billion from its substantial $13 billion technology budget. This investment is earmarked for fortifying new technological capabilities, with a strong emphasis on the broader integration of AI across all facets of its operations.
