AI-Powered Tool Boosts Productivity of Bank of America’s Bankers for Client Research

Date:

Bank of America has implemented an artificial intelligence-powered tool called Banker Assist to boost bankers’ productivity. The tool helps Bank of America employees research their clients with aggregated information from internal and external databases, presenting insights unique to each client. Banker Assist also allows bankers to record and review client meeting notes, review a client’s profitability, and identify a client’s credit lines and relationships with competitor banks. Before Banker Assist, bankers would spend hours manually compiling information on each client. The tool has over 700 users and is able to save hours of research for each client brief. The goal of Banker Assist is to increase efficiency and effectiveness among employees. The tool also pulls data that bankers hadn’t considered before, such as Uniform Commercial Code (UCC) filings. Banker Assist helps identify a client’s credit lines and relationships with competitor banks. The recent increase of generative AI technology has seen financial firms experimenting with applications that create efficiencies in how their employees work. Bank of America is careful and deliberate in deploying new technology, focusing on truly understanding its clients’ needs before applying new tools and technology.

See also  ChatGPT Officiates Wedding Ceremony in Colorado: Bot Expresses Gratitude and Honor

Frequently Asked Questions (FAQs) Related to the Above News

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

Share post:

Subscribe

Popular

More like this
Related

Obama’s Techno-Optimism Shifts as Democrats Navigate Changing Tech Landscape

Explore the evolution of tech policy from Obama's optimism to Harris's vision at the Democratic National Convention. What's next for Democrats in tech?

Tech Evolution: From Obama’s Optimism to Harris’s Vision

Explore the evolution of tech policy from Obama's optimism to Harris's vision at the Democratic National Convention. What's next for Democrats in tech?

Tonix Pharmaceuticals TNXP Shares Fall 14.61% After Q2 Earnings Report

Tonix Pharmaceuticals TNXP shares decline 14.61% post-Q2 earnings report. Evaluate investment strategy based on company updates and market dynamics.

The Future of Good Jobs: Why College Degrees are Essential through 2031

Discover the future of good jobs through 2031 and why college degrees are essential. Learn more about job projections and AI's influence.