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Bank Of America Bets Big On AI With $4 Billion Investment—And It's Already Paying Off

Benzinga LogoBenzinga3d ago

Bank Of America Bets Big On AI With $4 Billion Investment—And It's Already Paying Off - Benzinga

Quick Summary:

Bank of America Corp.(NYSE:BAC) is ramping up its investment in artificial intelligence, planning to spend $4 billion on AI initiatives over the next year—nearly a third of its annual $13 billion tech budget.

That being said, there are many interesting tidbits to highlight in the press release itself.Among major U.S.banks, Bank of America appears to be leading the charge in deploying AI at scale.

The company disclosed the figure in a recent release, noting that both internal and customer-facing tools are already showing strong returns, ranging from cost reductions to improved user experiences.

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Bank Of America Bets Big On AI With $4 Billion Investment—And It's Already Paying Off - Benzinga (Picture 1)

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Article Details

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-17 @ 21:07:15 (3 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 491 words

Reading Time: 3 minutes read

Sentences: 33 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 27968856

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Main Topics: Technology

Official Website: benzinga.com

Update Frequency: 5 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 13 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #53

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  • URL: https://citrocola.beamstart.com/news/bank-of-america-bets-big-17449247537607

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