Bank of America CEO: ‘We Want a Cashless Society’

Bank of America CEO Brian Moynihan kicked off Fortune’s inaugural Brainstorm Finance conference in Montauk, N.Y., on Wednesday by discussing the tech-driven strides made by one of the country’s largest financial institutions.Speaking with Fortune editor-at-large Shawn Tully, Moynihan touched on BoA’s embrace of artificial intelligence-driven technology via applications like Erica, a voice-activated virtual assistant used by 7 million customers. By his estimation, the financial institution has “probably spent $30 billion on code” over the past eight years to develop and improve its technological infrastructure.

Source: Bank of America CEO: ‘We Want a Cashless Society’

Advertisements
Standard

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.