Bank of America Cuts Call Times With Gen AI for Service Reps

Bank of America deploys real-time AI assistant for customer service teams

Bank of America has expanded its generative AI capabilities to support customer service representatives with a tool that surfaces relevant information in under three seconds during live client conversations. The system, called EricaAssist, is now used by more than 18,000 customer service representatives across the bank's operations.

According to details first reported by PYMNTS, the AI assistant reduces average call times by nearly one minute while enabling representatives to maintain conversational flow without interruption. The tool provides real-time guidance that allows employees to focus on client interaction rather than searching for information during calls.

"By combining human judgment with real-time AI guidance, we're helping employees navigate complex topics more easily and serve clients more effectively in the moments that matter most," said Ashley Ross, head of consumer client experience and business transformation at Bank of America, in a statement released Tuesday.

Why it matters

While financial institutions have rapidly adopted AI for back-office functions like credit risk assessment and revenue recognition, customer-facing applications have lagged. Bank of America's deployment of generative AI directly into live customer service workflows represents a shift toward using the technology in higher-stakes, real-time client interactions. The nearly one-minute reduction in call times across thousands of daily interactions translates to significant operational efficiency gains while potentially improving service quality through faster access to relevant information.

Governance and transparency priorities

Tom Ellis, chief information officer and head of consumer technology at Bank of America, emphasized the bank's approach to AI deployment. "This technology helps our teammates deliver relevant insights in seconds, while operating with strong governance, transparency and accountability," he said.

The emphasis on governance reflects broader industry caution around AI deployment in regulated financial services. A PYMNTS Intelligence report noted that financial services firms have primarily deployed AI "when outcomes are certain and the consequences of error are manageable," with tools for customer acquisition, retention, and personalization remaining "comparatively underdeveloped."

Broader AI strategy

EricaAssist represents one component of Bank of America's multi-pronged AI strategy. The bank's wealth management divisions launched AI-Powered Meeting Journey in March, a workflow tool that handles preparation, note-taking, and follow-up for financial advisers at Merrill Wealth Management and Bank of America Private Bank.

The bank's consumer-facing AI assistant, Erica, has processed more than 3 billion client interactions since launching in 2018 and averages more than 58 million interactions monthly as of August.

The deployment details were first reported by PYMNTS in a press release from Bank of America.