Finance
BoA CEO says accuracy tops cost in finance AI
Bank of America CEO Brian Moynihan said accuracy is the top priority for artificial intelligence strategies in banking, rather than efficiency or cost cutting. He said mistakes in customer-facing answers can directly affect trust, leaving little room for error and requiring extensive system building and validation. The bank has invested about $250 million in new AI deployments this year and runs AI assistant Erica, used by millions of customers and employees.
