Bank of America

“under the 365 Copilot rollout, which is now out across a total of 200,000 teammates and using it and learning from it”

“In addition, we added a slide on AI. It's slide 20, which shows how our over 200,000 teammates are actively using AI-enabled capabilities across our company. These range from productivity tools to more advanced agentic workflows and coding support. Our associates are generating more than 400,000 prompts a day, and as of last week, we had over 300 AI use cases approved, all of which have good economics, of which 114 are live generative AI use cases.”

“Remember, we've been at this for a little while now, but you can begin to see now in these general purpose productivity tools or the tools that are aimed at specific functions like the bankers or the wealth professionals or the software developers.”

“I think we are spending at a good clip overall in technology and also dedicating a lot of time in the company towards careful examination implementation, catalyst, people working to understand the projects in AI. We gave you the outline on slide 20. I think there's productivity increases. There's a lot of spending. We're going to be spending more of it.”

“~200K active users generating >400K prompts per day”

“Level I General Purpose AI Productivity Tools Integrated into enterprise-wide productivity applications”

“Access to multiple models and enabled cloud hosting environments”

“We have 18,000 people on the company's payroll through code. And using the AI techniques, we've taken 30% out of the coding part of the stream of introducing a new product or service or change. That saves us about 2,000 people. So that's how we're applying it. That was this year's statistic, meaning 25.”

“Remember, we've been at this for a little while now, but you can begin to see now in these general purpose productivity tools or the tools that are aimed at specific functions like the bankers or the wealth professionals or the software developers.”

“Whether that increases expenditures of technology development dramatically or not, it really has to do with a couple of things. One is the shifting of spending towards it. Secondly, even the coding process has become more and more efficient using these tools. The same amount of money in 2027 will get us more code, for lack of a better term, in 2028.”

“~19K developers leveraging real-time coding assistance, increasing productivity >20%”

“And we've gone from $3 billion to $3.8 billion in annual technology investments across the last couple of years, more branches.”

“investments in people, operations and technology”

“our businesses may be negatively impacted if we, or our third-party providers, do not timely development and apply emerging technologies, like AI and quantum computing, or if our initiatives in these areas are deficient or fail”

“Yeah. So Mike, we'll be up on initiatives this year, 5%-7%, I think, types of numbers. Total spending $13 billion plus $4 billion plus in initiatives. That's all new code.”

“So there's 20 different projects going on in the company. I don't know off the top of my head the total expenditure, but it's $ several hundred million.”

“Third, we manage cost while we continue to invest in a franchise, our brand, our people, our technology, and our AI-enabled productivity.”

“In addition, we added a slide on AI. It's slide 20, which shows how our over 200,000 teammates are actively using AI-enabled capabilities across our company. These range from productivity tools to more advanced agentic workflows and coding support. Our associates are generating more than 400,000 prompts a day, and as of last week, we had over 300 AI use cases approved, all of which have good economics, of which 114 are live generative AI use cases.”

“34 of those cases are fully implemented, and we see new capabilities coming on every week. These tools are designed to help our customer relationship managers prepare more thoroughly for the client meetings. Our bankers automate the research and presentation materials. Our developers code more efficiently, and all our teammates improve productivity, consistency, and client service while creating significant opportunities ahead of us.”

“Non-interest expense on slide 10 was approximately $18.6 billion, up roughly $100 million from the first quarter and $1.4 billion from the second quarter of 2025, reflecting continued investment in technology, sales teams, financial centers, and brand marketing.”

“Client engagement remained broad-based with activity across capital markets, strategic transactions, liquidity management, we continued our program of growth investments, including technology modernization, digital infrastructure, and AI-related initiatives. We're also using AI-enabled tools to help bankers accelerate their research, prepare materials, and identify relevant client opportunities more efficiently.”

“Investments in technology and AI are helping teams deliver insights faster, operate more efficiently, and further strengthen our competitive position.”

“At this point, we put it at the top of the page just so you could see it, but you can see the number of approved model cases at this point is 300. You can see the number we've got in here that we're using, 114. This is going to be something for the future, and we're just working our way through it.”

“I think we are spending at a good clip overall in technology and also dedicating a lot of time in the company towards careful examination implementation, catalyst, people working to understand the projects in AI. We gave you the outline on slide 20. I think there's productivity increases. There's a lot of spending. We're going to be spending more of it.”

“Whether that increases expenditures of technology development dramatically or not, it really has to do with a couple of things. One is the shifting of spending towards it. Secondly, even the coding process has become more and more efficient using these tools. The same amount of money in 2027 will get us more code, for lack of a better term, in 2028.”

“What we learn from also is not only what happens outside, we see the impact on our company and the ability for us to use it effectively, relatively quickly. It's a very powerful tool. It has great utility. It has to be carefully managed. You have to have your data perfect.”

“>300 AI / machine learning use cases approved | 114 live generative AI use cases with 34 fully deployed”

“The increases were primarily driven by higher revenue-related expenses during both periods, as well as continued investments in the business, including people, marketing and technology for the three-month period”

“the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and the ability to achieve expected or potential benefits, such as increased productivity and cost savings”

“Noninterest expense of $5.8 billion increased 4%, driven by investments in technology and brand”

“First, our Operational Excellence platform continues to deliver and improve processes. These savings from that growth help fund the future growth in the company and lower the risk. Second, we managed headcount as we eliminated work.”

“take steps to leverage emerging technologies, such as automation, AI and robotics”

“investments in people, operations and technology”

“Continued digital engagement savings and operational excellence initiatives should help us offset other cost increases for people and technology through the back half of the year.”

“We saw productivity improvements through AI and digitalization more generally, and those enabled us to add client-facing associates as we eliminated work and roles in our operational support areas.”

“Non-interest expense on slide 10 was approximately $18.6 billion, up roughly $100 million from the first quarter and $1.4 billion from the second quarter of 2025, reflecting continued investment in technology, sales teams, financial centers, and brand marketing.”

“AI-enabled tools are now more embedded in workflows across operations, risk, finance, technology, and our client-facing teams. That's helped reduce manual work, improve speed, and enhance consistency for clients and teammates.”

“We also see meaningful opportunities to continue using AI and automation ourselves to improve productivity, strengthen client engagement, and support disciplined growth across the company.”

“You're asking a question that's really about sustainability going forward. Can it help us with our own operations? The answer is yes.”

“A lot of the incremental expense growth from second quarter this year, last year was due to incentives and BC&E clearing expenses.”

“I think if you look at the core, the best core measure is probably headcount. Our headcount discipline over the last six quarters has been excellent. It's flat to slightly down.”

“Enterprise document intelligence platform searches, classifies, extracts, and translates documents to accelerate client servicing, reduce manual work, and lower operating costs”

“The increases were primarily driven by higher revenue-related expenses during both periods, as well as continued investments in the business, including people, marketing and technology for the three-month period”

“First, our Operational Excellence platform continues to deliver and improve processes. These savings from that growth help fund the future growth in the company and lower the risk. Second, we managed headcount as we eliminated work.”

“take steps to leverage emerging technologies, such as automation, AI and robotics”

“under the 365 Copilot rollout, which is now out across a total of 200,000 teammates and using it and learning from it”

“We saw productivity improvements through AI and digitalization more generally, and those enabled us to add client-facing associates as we eliminated work and roles in our operational support areas.”

“Third, we manage cost while we continue to invest in a franchise, our brand, our people, our technology, and our AI-enabled productivity.”

“In addition, we added a slide on AI. It's slide 20, which shows how our over 200,000 teammates are actively using AI-enabled capabilities across our company. These range from productivity tools to more advanced agentic workflows and coding support. Our associates are generating more than 400,000 prompts a day, and as of last week, we had over 300 AI use cases approved, all of which have good economics, of which 114 are live generative AI use cases.”

“34 of those cases are fully implemented, and we see new capabilities coming on every week. These tools are designed to help our customer relationship managers prepare more thoroughly for the client meetings. Our bankers automate the research and presentation materials. Our developers code more efficiently, and all our teammates improve productivity, consistency, and client service while creating significant opportunities ahead of us.”

“AI-enabled tools are now more embedded in workflows across operations, risk, finance, technology, and our client-facing teams. That's helped reduce manual work, improve speed, and enhance consistency for clients and teammates.”

“We also see meaningful opportunities to continue using AI and automation ourselves to improve productivity, strengthen client engagement, and support disciplined growth across the company.”

“You're asking a question that's really about sustainability going forward. Can it help us with our own operations? The answer is yes.”

“Remember, we've been at this for a little while now, but you can begin to see now in these general purpose productivity tools or the tools that are aimed at specific functions like the bankers or the wealth professionals or the software developers.”

“A lot of the incremental expense growth from second quarter this year, last year was due to incentives and BC&E clearing expenses.”

“I think if you look at the core, the best core measure is probably headcount. Our headcount discipline over the last six quarters has been excellent. It's flat to slightly down.”

“~200K active users generating >400K prompts per day”

“Level I General Purpose AI Productivity Tools Integrated into enterprise-wide productivity applications”

“The increases were primarily driven by higher revenue-related expenses during both periods, as well as continued investments in the business, including people, marketing and technology for the three-month period”

“the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and the ability to achieve expected or potential benefits, such as increased productivity and cost savings”

“>600K AI training courses completed”

“>2K departmental AI templates in use leveraging general purpose AI productivity tools”

“And we've gone from $3 billion to $3.8 billion in annual technology investments across the last couple of years, more branches.”

“Yeah. So Mike, we'll be up on initiatives this year, 5%-7%, I think, types of numbers. Total spending $13 billion plus $4 billion plus in initiatives. That's all new code.”

“We have 18,000 people on the company's payroll through code. And using the AI techniques, we've taken 30% out of the coding part of the stream of introducing a new product or service or change. That saves us about 2,000 people. So that's how we're applying it. That was this year's statistic, meaning 25.”

“In addition, we added a slide on AI. It's slide 20, which shows how our over 200,000 teammates are actively using AI-enabled capabilities across our company. These range from productivity tools to more advanced agentic workflows and coding support. Our associates are generating more than 400,000 prompts a day, and as of last week, we had over 300 AI use cases approved, all of which have good economics, of which 114 are live generative AI use cases.”

“34 of those cases are fully implemented, and we see new capabilities coming on every week. These tools are designed to help our customer relationship managers prepare more thoroughly for the client meetings. Our bankers automate the research and presentation materials. Our developers code more efficiently, and all our teammates improve productivity, consistency, and client service while creating significant opportunities ahead of us.”

“Remember, we've been at this for a little while now, but you can begin to see now in these general purpose productivity tools or the tools that are aimed at specific functions like the bankers or the wealth professionals or the software developers.”

“Whether that increases expenditures of technology development dramatically or not, it really has to do with a couple of things. One is the shifting of spending towards it. Secondly, even the coding process has become more and more efficient using these tools. The same amount of money in 2027 will get us more code, for lack of a better term, in 2028.”

“~19K developers leveraging real-time coding assistance, increasing productivity >20%”

“Erica has resolved 43% of the CashPro chat inquiries automatically, demonstrating more and more clients are able to self-solve.”

“Continued digital engagement savings and operational excellence initiatives should help us offset other cost increases for people and technology through the back half of the year.”

“We expanded our financial center network in new and growth markets, introduced new card products, and deployed new AI-enabled tools designed to enhance both the client and teammate experience.”

“Digital engagement remains a clear differentiator, with roughly 50 million active digital users, more than 24 million active Erica users, and digital sales representing 70% of total sales. New AI capabilities have improved service, increased efficiency, and allowed teammates to focus on higher-value client interactions.”

“~5K call center agents receiving automated recommendations with real-time results”

“Erica, our virtual banking assistant, reached a key milestone of more than two billion interactions since its introduction about six years ago. It took four years to reach one billion interactions. It took just 18 months to reach the second billion.”

“Erica has resolved 43% of the CashPro chat inquiries automatically, demonstrating more and more clients are able to self-solve.”

“Continued digital engagement savings and operational excellence initiatives should help us offset other cost increases for people and technology through the back half of the year.”

“You should note there the impact of Zelle in the continued usage growth and also note the impact of Erica, our AI agent, and its use both across our businesses and with our teammates.”

“The reality of that is what we don't show you is the amount of alerts that we deliver. So you can set up alerts, which then has slowed down the need for Erica because the alerts are up to, I think, billions a quarter that are telling you when your balance is low and things like that to avoid you going and asking the question.”

“So as we told you at Investor Day, today's activity and Erica in our consumer business alone is worth thousands of teammates that we don't have to have to do the great work we do for the customers.”

“We expanded our financial center network in new and growth markets, introduced new card products, and deployed new AI-enabled tools designed to enhance both the client and teammate experience.”

“Digital engagement remains a clear differentiator, with roughly 50 million active digital users, more than 24 million active Erica users, and digital sales representing 70% of total sales. New AI capabilities have improved service, increased efficiency, and allowed teammates to focus on higher-value client interactions.”

“24.6 million active Erica® users, up 23%”

“40.1K interactions with CashPro® Chat, supported by Erica® technology”

“166 167 174 200 Erica® interactions (MM)”

“Erica® Interactions (MM)5 2.7 3.0 3.4 3.8 2Q23 2Q24 2Q25 2Q26”

“Just like in our consumer business, we have seen good growth in customers seeking the benefits of both our physical and our online capabilities and also the care of our talented relationship managers who provide financing solutions and advice for our clients with global needs.”

“our businesses may be negatively impacted if we, or our third-party providers, do not timely development and apply emerging technologies, like AI and quantum computing, or if our initiatives in these areas are deficient or fail”

“34 of those cases are fully implemented, and we see new capabilities coming on every week. These tools are designed to help our customer relationship managers prepare more thoroughly for the client meetings. Our bankers automate the research and presentation materials. Our developers code more efficiently, and all our teammates improve productivity, consistency, and client service while creating significant opportunities ahead of us.”

“Franchise continued to benefit from strong advisor productivity, growing digital engagement, and new AI-enabled tools that help advisors prepare for client conversations, identify opportunities, and deliver more personalized advice at scale.”

“Client engagement remained broad-based with activity across capital markets, strategic transactions, liquidity management, we continued our program of growth investments, including technology modernization, digital infrastructure, and AI-related initiatives. We're also using AI-enabled tools to help bankers accelerate their research, prepare materials, and identify relevant client opportunities more efficiently.”

“Investments in technology and AI are helping teams deliver insights faster, operate more efficiently, and further strengthen our competitive position.”

“Remember, we've been at this for a little while now, but you can begin to see now in these general purpose productivity tools or the tools that are aimed at specific functions like the bankers or the wealth professionals or the software developers.”

“>20K wealth professionals equipped with AI to assist with meeting-related activities to increase advisor capacity to serve additional clients”

“~4K Corporate & Investment Banking professionals using AI for research and presentation preparation to enhance client coverage and growth opportunities”

“~2.5K Global Payments Solutions sales and servicing representatives using AI to expedite response time to client inquiries”

“Overall, the U.S. economy has proved more durable than expected, supported by the strong consumer, ongoing AI-driven investments across the board, and easing energy costs, though inflation and tighter monetary policy remain key risks.”

“Activity remains healthy across lending, payments, investment banking, markets, and wealth management, including technology, digital infrastructure, and AI-related opportunities.”

“AI plays a role, I think, in two ways. The first one is on the revenue side. There's obviously a big AI theme going on in the world. We're leading in investment banking and Global Markets around capital raising, financing that massive capital investment and infrastructure build around the world. That's helping us there.”

“On the commercial loan growth, yes, it's broader than just an AI theme. The AI theme has helped because there's so much in the way of capital investment going on globally now.”

“As we look at underlying deals, we're always looking at the credit, the capability and the earnings power of the underlying tenants, so to speak, that are driving the revenue to the build-out. That we can keep care on.”

“Investment banking fees increased $710 million for the three-month period due to higher debt issuance, advisory and equity issuance fees.”

“Business Lending revenue decreased $141 million for the three months ended June 30, 2026 compared to the same period a year ago primarily driven by the impact of lower interest rates, partially offset by the benefit of higher average loan balances.”

“from emerging technologies, such as AI (including machine learning and generative AI) and quantum computing, which may be used to enhance the tactics, techniques and procedures described above and facilitate new cyber threats”