# Bank of America vs peers: AI and technology compared

Source: https://www.bankingnewsai.com/banks/bank-of-america/vs-peers
Last updated: Oct 19, 2026

*Part of the [Bank of America AI strategy profile](https://www.bankingnewsai.com/banks/bank-of-america). Peer group: Citigroup, Wells Fargo, JPMorgan Chase, Goldman Sachs, U.S. Bancorp, Capital One, PNC Financial Services, Truist Financial.*

## How does Bank of America compare with its peers on AI and technology?

Bank of America scores 97.3 on this site's US AI disclosure index, #1 of 120 banks and first among the nine largest US banks, ahead of Citigroup (94.9), JPMorgan Chase (89) and Wells Fargo (88.8). The score measures what is on the record, and Bank of America puts more numbers there than any peer: it leads the group on use cases in production (16 of 18), dated moves in the last year (34) and disclosed figures (27). Three things separate it from named peers. Erica, in its app since 2018, had passed 3.6 billion interactions by October 2026, against more than 1 billion for Wells Fargo's Fargo (March 2026) and no published figure for Capital One's Eno. It reports a return: CEO Brian Moynihan said on September 14, 2026 that about 140 implemented AI applications cost $400 million and generate $800 million in benefit, while JPMorgan's CFO called his bank's earlier $2 billion benefit figure stale in October. And it patents at scale, with more than 1,700 AI-focused patents and applications. Where it trails: outside rankings put it lower, seventh on Evident's index (October 2026) against JPMorgan first and Capital One second, and 19th on Fortune's AIQ 75; and it needed 1,000 contractors to patch flaws exposed by Anthropic's Mythos. ([Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2025/08/a-decade-of-ai-innovation--bofa-s-virtual-assistant-erica-surpas.html), [Fortune](https://fortune.com/2026/10/01/ai-regulated-industries-bank-of-america-sp-global), [Wells Fargo (Business Wire)](https://www.businesswire.com/news/home/20260326542274/en/Wells-Fargo-Reaches-Major-Digital-Milestones), [Capital One](https://www.capitalone.com/digital/tools/eno/), [Banking Dive](https://www.bankingdive.com/news/bank-of-america-ai-spending-roi-headcount-moynihan/831159), [Banking Dive](https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870), [Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/company-overview/bank-of-america-fast-facts.html), [American Banker](https://americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens), [Fortune](https://fortune.com/2026/09/29/how-banks-are-using-ai-agents-copilots-roi/), [CNBC](https://www.cnbc.com/2026/10/14/anthropic-mythos-bank-of-america-hiring-cost.html))

## Where does BofA lead its peers on AI?

- **The largest consumer assistant on the record.** Erica had more than 3.6 billion cumulative interactions by October 2026 and handled about 2 million a day in January 2026, the work of 11,000 people. Wells Fargo's Fargo passed 1 billion interactions in March 2026, U.S. Bank's Smart Assistant is used 2.5 million times a month, and Capital One publishes no usage figure for Eno. ([Fortune](https://fortune.com/2026/10/01/ai-regulated-industries-bank-of-america-sp-global), [American Banker](https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people), [Wells Fargo (Business Wire)](https://www.businesswire.com/news/home/20260326542274/en/Wells-Fargo-Reaches-Major-Digital-Milestones), [U.S. Bank](https://usbank.com/content/dam/usbank/en/documents/pdfs/about-us-bank/2025-annual-report.pdf), [Capital One](https://www.capitalone.com/digital/tools/eno/))
- **A disclosed return on AI spend.** Moynihan said on September 14, 2026 that about 140 implemented AI applications cost $400 million and generate $800 million in benefit, and that the AI budget will double in 2027; on the October 14 call he put savings from about 130 projects at $300 million in 2026 rising to $700 million in 2027. JPMorgan's CFO says benefits are not yet visible in results, and PNC gives a $1.4 billion addressable-spend target rather than a realized figure. ([Banking Dive](https://www.bankingdive.com/news/bank-of-america-ai-spending-roi-headcount-moynihan/831159), [Investing.com](https://www.investing.com/news/transcripts/earnings-call-transcript-bank-of-america-q3-2026-misses-estimates-as-stock-falls-93CH-4949584), [Banking Dive](https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870), [Banking Dive](https://www.bankingdive.com/news/pnc-bank-ceo-demchak-earnings-regional-scale-automation/810116/))
- **Most use cases in production and most dated moves.** This site's profile records 16 of Bank of America's 18 described AI use cases as in production, tied with U.S. Bancorp for the most in the group (peer median 13), and 34 dated AI moves in the last 12 months, the most of the nine; JPMorgan has 8 of 15 in production. The Q2 2026 deck counts 114 live generative-AI use cases, 34 of them fully deployed. ([Bank of America (SEC filings)](https://www.sec.gov/Archives/edgar/data/70858/000007085826000353/bac06302026ex992.htm), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/bank-america-bac-q2-2026-194711248.html))
- **The biggest AI patent estate among the large banks.** Bank of America counts about 8,600 granted patents and pending applications, more than 1,700 of them AI-focused (Fast Facts, October 2026). Capital One, the most-cited bank on AI patents, was granted 472 AI patents in 2024; Truist reports 1,200-plus patents and applications in total, with 48% of recent filings AI or machine learning. ([Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/company-overview/bank-of-america-fast-facts.html), [Bank Automation News](https://bankautomationnews.com/allposts/ai/inside-capital-ones-innovation-patent-strategy), [Truist](https://ir.truist.com/2026-06-11-Truist-patent-boom-fueled-by-AI-machine-learning))

## Where does BofA trail its peers on AI?

- **Lower on the outside rankings.** Evident ranked Bank of America seventh of 50 banks on October 6, 2026, up from tenth but behind JPMorgan Chase (first), Capital One (second) and RBC (third). Fortune and ServiceNow's AIQ 75 placed it 19th in September 2026, behind JPMorgan (first) and BNY (15th). ([American Banker](https://americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens), [Fortune](https://fortune.com/2026/09/29/how-banks-are-using-ai-agents-copilots-roi/), [Fortune](http://fortune.com/2026/09/29/how-banks-are-using-ai-agents-copilots-roi))
- **Less independent coverage than JPMorgan and Citi.** On this site's index Bank of America has 37 independent sources on its AI against 42 each for JPMorgan Chase and Citigroup, fourth of nine; independent coverage carries 45% of the index weight, and Bank of America leads overall on the strength of its own numbers and use cases. ([American Banker](https://americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens), [Fortune](https://fortune.com/2026/09/29/how-banks-are-using-ai-agents-copilots-roi/))
- **Frontier-model security came at a cost.** Bank of America added 1,000 contractors to 3,000 staff to patch software flaws exposed by Anthropic's Mythos (October 2026). JPMorgan was named a Project Glasswing launch organization in April 2026, and Goldman said the same month it was 'supplementing' cyber resilience with Mythos; neither has disclosed a contractor count. ([CNBC](https://www.cnbc.com/2026/10/14/anthropic-mythos-bank-of-america-hiring-cost.html), [Anthropic](https://www.anthropic.com/glasswing), [Bloomberg](https://www.bloomberg.com/news/articles/2026-04-13/goldman-is-using-mythos-working-with-anthropic-on-cyber-risks))
- **Weaker AI-judged reputation than Chase.** A RepTrak study averaging Claude, ChatGPT and Gemini (September 2026) scored Bank of America 39.6 out of 100, behind Ally (52.1), Chase (50.3) and Truist (42.6), though ahead of Wells Fargo (22.2); in October 2026 regulators imposed $1.21 billion of AML and sanctions penalties on the bank. ([American Banker](https://www.americanbanker.com/opinion/people-use-ai-to-gauge-banks-reputations-and-its-verdicts-are-harsh), [U.S. Department of the Treasury](https://home.treasury.gov/news/press-releases/sb0657), [Banking Dive](https://bankingdive.com/news/bofa-fined-1-21-billion-over-aml-bsa-occ-treasury/832915))

## Where does BofA rank against its peers on AI disclosure?

Scores from the US AI disclosure index of 120 banks (0–100; 45% of the weight on independent coverage). The index measures what each bank has put on the public record and what outside outlets have reported about its AI, not capability or spending; every count is of entries on that bank's profile, each of which cites its sources.

| Bank | Score | Rank | Independent sources | Own disclosures | Use cases in production | Moves, last 12 months | Named AI platform |
| --- | --- | --- | --- | --- | --- | --- | --- |
| [Bank of America (this page)](https://www.bankingnewsai.com/banks/bank-of-america) | [97.3](https://www.bankingnewsai.com/banks/ai-index) | #1 of 120 | [37](https://www.bankingnewsai.com/banks/bank-of-america#sources) | [24](https://www.bankingnewsai.com/banks/bank-of-america#sources) | [16 of 18](https://www.bankingnewsai.com/banks/bank-of-america#where) | [34](https://www.bankingnewsai.com/banks/bank-of-america#timeline) | Erica (and EricaAssist) ([Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2025/08/a-decade-of-ai-innovation--bofa-s-virtual-assistant-erica-surpas.html), [Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2026/07/bank-of-america-enhances-ericaassist-with-generative-ai-to-help-.html), [American Banker](https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people)) |
| [Citigroup](https://www.bankingnewsai.com/banks/citigroup) | [94.9](https://www.bankingnewsai.com/banks/ai-index) | #2 of 120 | [42](https://www.bankingnewsai.com/banks/citigroup#sources) | [19](https://www.bankingnewsai.com/banks/citigroup#sources) | [15 of 20](https://www.bankingnewsai.com/banks/citigroup#where) | [34](https://www.bankingnewsai.com/banks/citigroup#timeline) | Citi Stylus Workspaces ([The Wall Street Journal](https://www.wsj.com/cio-journal/the-ai-superfans-companies-count-on-to-convert-the-skeptics-5b301a90), [Citigroup](https://www.citigroup.com/rcs/citigpa/storage/public/Earnings/Q12026/2026psqtr1rslt.pdf)) |
| [JPMorgan Chase](https://www.bankingnewsai.com/banks/jpmorgan-chase) | [89](https://www.bankingnewsai.com/banks/ai-index) | #6 of 120 | [43](https://www.bankingnewsai.com/banks/jpmorgan-chase#sources) | [20](https://www.bankingnewsai.com/banks/jpmorgan-chase#sources) | [8 of 15](https://www.bankingnewsai.com/banks/jpmorgan-chase#where) | [32](https://www.bankingnewsai.com/banks/jpmorgan-chase#timeline) | LLM Suite ([American Banker](https://www.americanbanker.com/news/how-jpmorganchase-democratized-employee-access-to-gen-ai), [American Banker](https://www.americanbanker.com/video/wib-2025/driving-ai-use-cases-and-adoption-aligning-business-value-data-readiness-and-risk-management)) |
| [Wells Fargo](https://www.bankingnewsai.com/banks/wells-fargo) | [88.8](https://www.bankingnewsai.com/banks/ai-index) | #7 of 120 | [32](https://www.bankingnewsai.com/banks/wells-fargo#sources) | [15](https://www.bankingnewsai.com/banks/wells-fargo#sources) | [13 of 16](https://www.bankingnewsai.com/banks/wells-fargo#where) | [33](https://www.bankingnewsai.com/banks/wells-fargo#timeline) | Fargo and the Google Cloud agent stack ([Wells Fargo](https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/fourth-quarter-2023-financial-results.pdf), [VentureBeat](https://venturebeat.com/business/wells-fargos-ai-assistant-just-crossed-245-million-interactions-with-zero-humans-in-the-loop-and-zero-pii-to-the-llm), [Wells Fargo (Business Wire)](https://www.businesswire.com/news/home/20260326542274/en/Wells-Fargo-Reaches-Major-Digital-Milestones), [American Banker](https://www.americanbanker.com/news/wells-fargo-plans-to-unleash-googles-agentic-ai-bank-wide)) |
| [Capital One](https://www.bankingnewsai.com/banks/capital-one) | [86.9](https://www.bankingnewsai.com/banks/ai-index) | #9 of 120 | [25](https://www.bankingnewsai.com/banks/capital-one#sources) | [45](https://www.bankingnewsai.com/banks/capital-one#sources) | [13 of 13](https://www.bankingnewsai.com/banks/capital-one#where) | [25](https://www.bankingnewsai.com/banks/capital-one#timeline) | Chat Concierge and the in-house agent stack ([Capital One](https://www.capitalone.com/tech/ai/future-of-ai-car-dealerships-shopping), [Capital One](https://www.capitalone.com/tech/ai/applied-ai-research), [American Banker](https://www.americanbanker.com/news/goldman-sachs-capital-one-prep-for-self-driving-ai-agents)) |
| [Truist Financial](https://www.bankingnewsai.com/banks/truist) | [82.6](https://www.bankingnewsai.com/banks/ai-index) | #16 of 120 | [18](https://www.bankingnewsai.com/banks/truist#sources) | [18](https://www.bankingnewsai.com/banks/truist#sources) | [13 of 15](https://www.bankingnewsai.com/banks/truist#where) | [27](https://www.bankingnewsai.com/banks/truist#timeline) | Truist Insights and the 'digital teammates' ([Truist via FT Markets](https://markets.ft.com/data/announce/detail?dockey=600-202609030730PR_NEWS_USPRX____CL39481-1), [American Banker](https://www.americanbanker.com/news/the-truist-cio-is-34-on-the-most-innovative-people-in-finance-ranking)) |
| [U.S. Bancorp](https://www.bankingnewsai.com/banks/us-bancorp) | [81.3](https://www.bankingnewsai.com/banks/ai-index) | #18 of 120 | [17](https://www.bankingnewsai.com/banks/us-bancorp#sources) | [21](https://www.bankingnewsai.com/banks/us-bancorp#sources) | [16 of 18](https://www.bankingnewsai.com/banks/us-bancorp#where) | [26](https://www.bankingnewsai.com/banks/us-bancorp#timeline) | In-house tools from the AI Center of Excellence ([U.S. Bank](https://www.usbank.com/about-us-bank/news-and-stories/article-library/us-bank-launches-design-assistant-an-ai-solution-to-empower-designers-at-scale.html), [American Banker](https://www.americanbanker.com/news/u-s-bank-gives-embedded-banking-clients-a-gen-ai-assistant), [U.S. Bank](https://www.usbank.com/about-us-bank/news-and-stories/article-library/ai-powered-statement-analyzer-simplifies-payment-services-for-small-businesses.html), [U.S. Bank](https://www.usbank.com/about-us-bank/news-and-stories/article-library/us-bank-launches-ai-driven-cash-forecasting-tool.html)) |
| [Goldman Sachs](https://www.bankingnewsai.com/banks/goldman-sachs) | [79.9](https://www.bankingnewsai.com/banks/ai-index) | #22 of 120 | [39](https://www.bankingnewsai.com/banks/goldman-sachs#sources) | [15](https://www.bankingnewsai.com/banks/goldman-sachs#sources) | [7 of 13](https://www.bankingnewsai.com/banks/goldman-sachs#where) | [28](https://www.bankingnewsai.com/banks/goldman-sachs#timeline) | GS AI Platform and GS AI Assistant ([American Banker](https://www.americanbanker.com/news/goldman-sachs-staff-now-write-a-million-gen-ai-prompts-a-month), [American Banker](https://www.americanbanker.com/news/goldman-sachs-marco-argenti-is-3-on-the-most-innovative-people-in-finance)) |
| [PNC Financial Services](https://www.bankingnewsai.com/banks/pnc) | [68.2](https://www.bankingnewsai.com/banks/ai-index) | #38 of 120 | [17](https://www.bankingnewsai.com/banks/pnc#sources) | [15](https://www.bankingnewsai.com/banks/pnc#sources) | [8 of 14](https://www.bankingnewsai.com/banks/pnc#where) | [24](https://www.bankingnewsai.com/banks/pnc#timeline) | PNC AI factory ([American Banker](https://www.americanbanker.com/news/why-pnc-is-building-its-own-ai-factory), [American Banker](https://www.americanbanker.com/news/pncs-solution-to-rising-ai-costs-build-its-own-ai), [PNC via FT Markets](https://markets.ft.com/data/announce/detail?dockey=600-202607070807PR_NEWS_USPRX____NE98867-1), [Investing.com](https://uk.investing.com/news/stock-market-news/pnc-at-barclays-conference-growth-ai-and-branch-push-93CH-4868299)) |

## On which parts of the AI record is BofA ahead of or behind its peers?

Each row is one input of the index, counted on the profiles of BofA and the 8 peers that are scored on the same basis. "Place" is BofA's position in the group of 9 (1st = most).

| Component (weight) | BofA | Peer median | Most in the group | Place |
| --- | --- | --- | --- | --- |
| Independent sources (45%) | 37 | 28.5 | [JPMorgan (43)](https://www.bankingnewsai.com/banks/jpmorgan-chase) | 4th of 9 |
| Use cases in production (10%) | 16 | 13 | [BofA (16)](https://www.bankingnewsai.com/banks/bank-of-america) | 1st of 9 |
| Own primary disclosures (10%) | 24 | 18.5 | [Capital One (45)](https://www.bankingnewsai.com/banks/capital-one) | 2nd of 9 |
| Dated moves, last 12 months (10%) | 34 | 27.5 | [BofA (34)](https://www.bankingnewsai.com/banks/bank-of-america) | 1st of 9 |
| Disclosed numbers (5%) | 28 | 16 | [BofA (28)](https://www.bankingnewsai.com/banks/bank-of-america) | 1st of 9 |
| Named AI leaders (5%) | 17 | 15 | [JPMorgan (19)](https://www.bankingnewsai.com/banks/jpmorgan-chase) | 3rd of 9 |
| Use cases described (5%) | 18 | 15 | [Citi (20)](https://www.bankingnewsai.com/banks/citigroup) | 2nd of 9 |

## What has each bank in BofA's peer group disclosed about its AI?

Facts from each bank's profile, cited to the profile's own sources. "Not disclosed" means the bank's public record, as cited on its profile, does not state it.

| Bank | Platform or assistant, as the profile names it | AI leaders named | Headline AI number disclosed | Patents on the record | Open AI roles |
| --- | --- | --- | --- | --- | --- |
| [Bank of America](https://www.bankingnewsai.com/banks/bank-of-america) | Erica (and EricaAssist) ([Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2025/08/a-decade-of-ai-innovation--bofa-s-virtual-assistant-erica-surpas.html), [Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2026/07/bank-of-america-enhances-ericaassist-with-generative-ai-to-help-.html), [American Banker](https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people)) | [17, incl. Hari Gopalkrishnan (Chief Technology and Information Officer)](https://www.bankingnewsai.com/banks/bank-of-america#people) ([The Wall Street Journal](https://www.wsj.com/articles/the-man-behind-bank-of-americas-13-billion-tech-agenda-3d770a2d), [American Banker](https://www.americanbanker.com/news/bofas-cto-is-12-on-the-most-innovative-people-in-finance-ranking)) | Erica interactions per day: 2 million (Jan 22, 2026) ([American Banker](https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people)) | 8 patents listed on the profile, e.g. US 12,705,363 B2 (Vulnerability detection and mitigation using artificial intelligence in an electronic environment: Generates a vulnerability attribute for a network device from source data using AI.) ([Google Patents (USPTO)](https://patents.google.com/patent/US12705363B2/en)) | [12+ open AI roles (Oct 1, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/bank-of-america#roles) |
| [Citigroup](https://www.bankingnewsai.com/banks/citigroup) | Citi Stylus Workspaces ([The Wall Street Journal](https://www.wsj.com/cio-journal/the-ai-superfans-companies-count-on-to-convert-the-skeptics-5b301a90), [Citigroup](https://www.citigroup.com/rcs/citigpa/storage/public/Earnings/Q12026/2026psqtr1rslt.pdf)) | [18, incl. Tim Ryan (Head of Technology and Business Enablement)](https://www.bankingnewsai.com/banks/citigroup#people) ([Reuters](https://www.reuters.com/business/finance/citigroup-says-ai-helps-speed-account-openings-systems-upgrades-2026-04-08/)) | Colleagues using AI tools: 80%+ (Apr 14, 2026) ([Citigroup](https://www.citigroup.com/rcs/citigpa/storage/public/Earnings/Q12026/2026psqtr1rslt.pdf)) | 4 patents listed on the profile, e.g. US 12,450,494 B1 (Validating autonomous AI agents using generative AI) ([Google Patents (USPTO)](https://patents.google.com/patent/US12450494B1/en)) | [12+ open AI roles (Oct 1, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/citigroup#roles) |
| [Wells Fargo](https://www.bankingnewsai.com/banks/wells-fargo) | Fargo and the Google Cloud agent stack ([Wells Fargo](https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/fourth-quarter-2023-financial-results.pdf), [VentureBeat](https://venturebeat.com/business/wells-fargos-ai-assistant-just-crossed-245-million-interactions-with-zero-humans-in-the-loop-and-zero-pii-to-the-llm), [Wells Fargo (Business Wire)](https://www.businesswire.com/news/home/20260326542274/en/Wells-Fargo-Reaches-Major-Digital-Milestones), [American Banker](https://www.americanbanker.com/news/wells-fargo-plans-to-unleash-googles-agentic-ai-bank-wide)) | [16, incl. Saul Van Beurden (Head of AI)](https://www.bankingnewsai.com/banks/wells-fargo#people) ([Wells Fargo via FT Markets](https://markets.ft.com/data/announce/detail?dockey=600-202511201615BIZWIRE_USPRX____20251120_BW971693-1), [Bloomberg](https://www.bloomberg.com/news/articles/2026-01-26/wells-fargo-taps-amazon-web-services-executive-to-expand-ai-use)) | Fargo interactions, 2024: 245 million (2024); 336 million since launch at the time (Apr 8, 2025) ([VentureBeat](https://venturebeat.com/business/wells-fargos-ai-assistant-just-crossed-245-million-interactions-with-zero-humans-in-the-loop-and-zero-pii-to-the-llm)) | 6 patents listed on the profile, e.g. US 2026/0087043 A1 (Model-based personal advisor) ([Google Patents (USPTO)](https://patents.google.com/patent/US20260087043A1/en)) | [12+ open AI roles (Sep 24, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/wells-fargo#roles) |
| [JPMorgan Chase](https://www.bankingnewsai.com/banks/jpmorgan-chase) | LLM Suite ([American Banker](https://www.americanbanker.com/news/how-jpmorganchase-democratized-employee-access-to-gen-ai), [American Banker](https://www.americanbanker.com/video/wib-2025/driving-ai-use-cases-and-adoption-aligning-business-value-data-readiness-and-risk-management)) | [19, incl. Lori Beer (Global Chief Information Officer)](https://www.bankingnewsai.com/banks/jpmorgan-chase#people) ([American Banker](https://www.americanbanker.com/news/chases-lori-beer-is-8-on-the-most-innovative-people-in-finance-ranking)) | Technology employees: 65,000+ (Oct 1, 2026) ([American Banker](https://www.americanbanker.com/news/2026-the-most-powerful-women-in-banking-5-lori-beer-jpmorganchase)) | 6 patents listed on the profile, e.g. US 2026/0010713 A1 (Generative ML framework producing predictive results on financial transactions) ([Google Patents (USPTO)](https://patents.google.com/patent/US20260010713A1/en)) | [12+ open AI roles (Oct 1, 2026); most in ML & data science](https://www.bankingnewsai.com/banks/jpmorgan-chase#roles) |
| [Goldman Sachs](https://www.bankingnewsai.com/banks/goldman-sachs) | GS AI Platform and GS AI Assistant ([American Banker](https://www.americanbanker.com/news/goldman-sachs-staff-now-write-a-million-gen-ai-prompts-a-month), [American Banker](https://www.americanbanker.com/news/goldman-sachs-marco-argenti-is-3-on-the-most-innovative-people-in-finance)) | [16, incl. Marco Argenti (Chief Information Officer)](https://www.bankingnewsai.com/banks/goldman-sachs#people) ([CNBC](https://www.cnbc.com/2026/02/06/anthropic-goldman-sachs-ai-model-accounting.html), [American Banker](https://www.americanbanker.com/news/goldman-sachs-marco-argenti-is-3-on-the-most-innovative-people-in-finance)) | Employees with GS AI Assistant: 46,000 (all) (Jul 25, 2025) ([American Banker](https://www.americanbanker.com/news/goldman-sachs-staff-now-write-a-million-gen-ai-prompts-a-month)) | 5 patents listed on the profile, e.g. US 2026/0072655 A1 (Context injection for AI coding assistants) ([Google Patents (USPTO)](https://patents.google.com/patent/US20260072655A1/en)) | [12+ open AI roles (Oct 1, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/goldman-sachs#roles) |
| [U.S. Bancorp](https://www.bankingnewsai.com/banks/us-bancorp) | In-house tools from the AI Center of Excellence ([U.S. Bank](https://www.usbank.com/about-us-bank/news-and-stories/article-library/us-bank-launches-design-assistant-an-ai-solution-to-empower-designers-at-scale.html), [American Banker](https://www.americanbanker.com/news/u-s-bank-gives-embedded-banking-clients-a-gen-ai-assistant), [U.S. Bank](https://www.usbank.com/about-us-bank/news-and-stories/article-library/ai-powered-statement-analyzer-simplifies-payment-services-for-small-businesses.html), [U.S. Bank](https://www.usbank.com/about-us-bank/news-and-stories/article-library/us-bank-launches-ai-driven-cash-forecasting-tool.html)) | [13, incl. Prashant Mehrotra (EVP and Chief AI Officer)](https://www.bankingnewsai.com/banks/us-bancorp#people) ([American Banker](https://www.americanbanker.com/news/benchmarking-ai-adoption-what-u-s-banks-playbook-tells-us), [American Banker](https://www.americanbanker.com/news/beyond-token-maxing-how-u-s-bank-ai-chief-navigates-costs), [The Wall Street Journal (Deloitte CMO Journal)](https://deloitte.wsj.com/cmo/u-s-bank-chief-ai-officer-on-transformation-if-not-now-when-d6ab3469)) | Operations employees under the new COO: 16,000+ (Mar 26, 2026) ([Business Wire via FT Markets](https://markets-data-api-proxy.ft.com/data/announce/full?dockey=600-202603261645BIZWIRE_USPRX____20260326_BW200557-1)) | 7 patents listed on the profile, e.g. US 2024/0144204 A1 (Check fraud detection comparing incoming check image and signature with a reference) ([Google Patents (USPTO)](https://patents.google.com/patent/US20240144204A1/en)) | [12+ open AI roles (Oct 1, 2026); most in AI product & strategy](https://www.bankingnewsai.com/banks/us-bancorp#roles) |
| [Capital One](https://www.bankingnewsai.com/banks/capital-one) | Chat Concierge and the in-house agent stack ([Capital One](https://www.capitalone.com/tech/ai/future-of-ai-car-dealerships-shopping), [Capital One](https://www.capitalone.com/tech/ai/applied-ai-research), [American Banker](https://www.americanbanker.com/news/goldman-sachs-capital-one-prep-for-self-driving-ai-agents)) | [9, incl. Richard Fairbank (Founder, Chairman and CEO)](https://www.bankingnewsai.com/banks/capital-one#people) ([Capital One via SEC EDGAR](https://www.sec.gov/Archives/edgar/data/927628/000119312526124157/d860581dars.pdf)) | Evident AI index rank: #2 of 50 (four editions running) (Oct 6, 2026) ([American Banker](https://www.americanbanker.com/news/jpmorganchase-capital-one-top-ai-ranking-once-again), [American Banker](https://www.americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens)) | 2 patents listed on the profile, e.g. EP4776166A1: Safeguarding user-facing AI models (Published application) ([Google Patents (EPO)](https://patents.google.com/patent/EP4776166A1/en)) | [12+ open AI roles (Oct 1, 2026); most in ML & data science](https://www.bankingnewsai.com/banks/capital-one#roles) |
| [PNC Financial Services](https://www.bankingnewsai.com/banks/pnc) | PNC AI factory ([American Banker](https://www.americanbanker.com/news/why-pnc-is-building-its-own-ai-factory), [American Banker](https://www.americanbanker.com/news/pncs-solution-to-rising-ai-costs-build-its-own-ai), [PNC via FT Markets](https://markets.ft.com/data/announce/detail?dockey=600-202607070807PR_NEWS_USPRX____NE98867-1), [Investing.com](https://uk.investing.com/news/stock-market-news/pnc-at-barclays-conference-growth-ai-and-branch-push-93CH-4868299)) | [10, incl. Bill Demchak (Chairman and CEO)](https://www.bankingnewsai.com/banks/pnc#people) ([American Banker](https://www.americanbanker.com/news/why-pnc-is-building-its-own-ai-factory), [Bloomberg](https://www.bloomberg.com/news/articles/2026-01-26/how-pnc-became-one-of-the-world-s-biggest-banks)) | AI share of the year-over-year increase in technology spending: ≈ 20% (Jan 16, 2026) ([MarketBeat (Yahoo Finance)](https://finance.yahoo.com/news/pnc-financial-services-group-q4-163523838.html)) | 4 patents listed on the profile, e.g. US 2025/0094839 A1 (Applying rules via artificial intelligence for document processing) ([Google Patents (USPTO)](https://patents.google.com/patent/US20250094839A1/en)) | [12+ open AI roles (Oct 1, 2026); most in ML & data science](https://www.bankingnewsai.com/banks/pnc#roles) |
| [Truist Financial](https://www.bankingnewsai.com/banks/truist) | Truist Insights and the 'digital teammates' ([Truist via FT Markets](https://markets.ft.com/data/announce/detail?dockey=600-202609030730PR_NEWS_USPRX____CL39481-1), [American Banker](https://www.americanbanker.com/news/the-truist-cio-is-34-on-the-most-innovative-people-in-finance-ranking)) | [14, incl. Steve Hagerman (Chief Information Officer)](https://www.bankingnewsai.com/banks/truist#people) ([American Banker](https://www.americanbanker.com/news/the-truist-cio-is-34-on-the-most-innovative-people-in-finance-ranking), [Truist](https://media.truist.com/Steve-Hagerman), [Banking Dive](https://www.bankingdive.com/news/truist-names-jpmorgan-wells-vet-next-cio/723737/)) | AI use cases deployed in 2025: 50+ (Jun 1, 2026) ([American Banker](https://www.americanbanker.com/news/the-truist-cio-is-34-on-the-most-innovative-people-in-finance-ranking)) | 4 patents listed on the profile, e.g. US 12,657,538 B2 (Audio signal processing and dynamic natural-language risk scoring of customer communications) ([Google Patents (USPTO)](https://patents.google.com/patent/US12657538B2/en)) | [12+ open AI roles (Oct 1, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/truist#roles) |

## What are the latest dated moves on the AI record of BofA and its peers?

The two newest dated entries of each bank since Oct 16, 2025, from the timelines of the profiles (which also log filings, results and deals that bear on the AI record), newest first.

| Date | Bank | Move |
| --- | --- | --- |
| Oct 13, 2026 | [Goldman](https://www.bankingnewsai.com/banks/goldman-sachs) | Q3 2026 call: Solomon sets out AI guardrails and compute-supply risk ([Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-goldman-sachs-tops-q3-2026-estimates-as-revenue-rises-93CH-4947164), [American Banker](https://americanbanker.com/news/goldmans-solomon-wants-clear-human-accountability-on-ai)) |
| Oct 13, 2026 | [JPMorgan](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Q3 2026 call: outside AI agents stay blocked; AI spend put near $700 million ([CNBC](https://www.cnbc.com/2026/10/13/jpmorgan-ai-agents-account-access.html), [Banking Dive](https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870), [American Banker](https://www.americanbanker.com/news/jpmorgan-warns-of-risks-to-consumers-who-rely-on-ai-agents)) |
| Oct 13, 2026 | [Wells Fargo](https://www.bankingnewsai.com/banks/wells-fargo) | Q3 2026 call: AI agents in code, marketing, cyber, underwriting ([PYMNTS](https://pymnts.com/earnings/2026/wells-fargo-enhances-banking-capabilities-using-ai-and-digital-assets), [Wells Fargo](https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/third-quarter-2026-earnings.pdf)) |
| Oct 13, 2026 | [BofA](https://www.bankingnewsai.com/banks/bank-of-america) | Treasury, FinCEN and OCC impose $1.21 billion in AML and sanctions penalties ([U.S. Department of the Treasury](https://home.treasury.gov/news/press-releases/sb0657), [Office of the Comptroller of the Currency](https://www.occ.gov/news-issuances/news-releases/2026/nr-occ-2026-89.html), [Banking Dive](https://bankingdive.com/news/bofa-fined-1-21-billion-over-aml-bsa-occ-treasury/832915)) |
| Oct 8, 2026 | [Goldman](https://www.bankingnewsai.com/banks/goldman-sachs) | Sneader: new joiners 'are managing agents' ([Bloomberg](https://bloomberg.com/news/articles/2026-10-08/young-bankers-to-manage-ai-agents-from-start-goldman-exec-says)) |
| Oct 7, 2026 | [U.S. Bank](https://www.bankingnewsai.com/banks/us-bancorp) | Venkatachari: from proving AI to industrializing it ([Forbes (Yahoo Finance)](https://finance.yahoo.com/news/u-bank-industrializing-ai-132012524.html)) |
| Oct 6, 2026 | [Capital One](https://www.bankingnewsai.com/banks/capital-one) | Second on the Evident AI index for a fourth year ([American Banker](https://www.americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens), [Banking Dive](https://www.bankingdive.com/news/banks-ai-guardrails-accelerate/832216/)) |
| Oct 6, 2026 | [JPMorgan](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Evident AI Index: first for the fourth consecutive year ([American Banker](https://www.americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens)) |
| Oct 6, 2026 | [BofA](https://www.bankingnewsai.com/banks/bank-of-america) | Evident AI Index: seventh, up from tenth ([American Banker](https://americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens)) |
| Oct 1, 2026 | [Wells Fargo](https://www.bankingnewsai.com/banks/wells-fargo) | Engle: $10 billion technology budget, nearly 200,000 staff with AI tools ([American Banker](https://americanbanker.com/news/2026-the-most-powerful-women-in-banking-11-bridget-engle-wells-fargo)) |
| Oct 1, 2026 | [Citi](https://www.bankingnewsai.com/banks/citigroup) | Payments chief: no AI model to authorise payments ([American Banker](https://americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-7-debopama-sen-citi)) |
| Sep 29, 2026 | [Capital One](https://www.bankingnewsai.com/banks/capital-one) | Natarajan: cutting latency and token costs with smaller, open-weight models ([Fortune](http://fortune.com/2026/09/29/how-banks-are-using-ai-agents-copilots-roi)) |
| Sep 29, 2026 | [U.S. Bank](https://www.bankingnewsai.com/banks/us-bancorp) | CFO Insights Report: AI spending running over budget ([U.S. Bank (Business Wire)](https://www.businesswire.com/news/home/20260929120677/en/U.S.-Bank-CFO-Survey-Optimism-Climbing-as-Growth-and-Dealmaking-Gain-Momentum)) |
| Sep 29, 2026 | [Citi](https://www.bankingnewsai.com/banks/citigroup) | Market Guide platform relaunched with AI at Sibos ([Citigroup (Business Wire)](https://secure.businesswire.com/news/home/20260929289110/en/Citi-Investor-Services-Reimagines-Market-Guide-Platform-Harnessing-AI-to-Deliver-Timely-Intelligence-for-Decision-Makers)) |
| Sep 25, 2026 | [PNC](https://www.bankingnewsai.com/banks/pnc) | Head of ATM Banking hired with an AI mandate ([Columbus Business First (bizjournals.com)](https://www.bizjournals.com/columbus/potmsearch/detail/submission/6578669/Mark_Williamson)) |
| Sep 18, 2026 | [Truist](https://www.bankingnewsai.com/banks/truist) | Mid-table on AI-judged reputation ([American Banker](https://www.americanbanker.com/opinion/people-use-ai-to-gauge-banks-reputations-and-its-verdicts-are-harsh)) |
| Sep 16, 2026 | [Truist](https://www.bankingnewsai.com/banks/truist) | Insights scale: 4 million daily sign-ins, 500 insights a year per customer ([The Financial Brand](https://thefinancialbrand.com/news/banking-technology/how-truist-delivers-proactive-insights-to-its-app-and-online-users-199568)) |
| Sep 14, 2026 | [PNC](https://www.bankingnewsai.com/banks/pnc) | Barclays conference: agents at the centre of development, 5–10x ([Investing.com](https://uk.investing.com/news/stock-market-news/pnc-at-barclays-conference-growth-ai-and-branch-push-93CH-4868299)) |

## How does Bank of America's Erica compare with other banks' AI assistants?

Scale figures use different units (cumulative interactions, monthly uses, requests) and dates; they rank disclosure, not quality.

| Bank | Assistant | Launched | Scale disclosed | Generative AI |
| --- | --- | --- | --- | --- |
| Bank of America | Erica; EricaAssist for about 18,000 service employees | June 2018 | 3.6 billion-plus cumulative interactions; 2 million a day (January 2026) | Erica rebuilt as a model-agnostic second-generation platform in 2025; generative AI added to EricaAssist in July 2026 ([Fortune](https://fortune.com/2026/10/01/ai-regulated-industries-bank-of-america-sp-global), [American Banker](https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people), [Fortune](https://fortune.com/2026/03/17/inside-bank-of-americas-build-once-ai-strategy), [Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2026/07/bank-of-america-enhances-ericaassist-with-generative-ai-to-help-.html), [Banking Dive](https://bankingdive.com/news/bank-of-america-generative-ai-erica-assist-customer-service/825839)) |
| Wells Fargo | Fargo | Announced October 2022 on Google Cloud | More than 1 billion interactions in under three years; 3 million-plus Spanish-speaking users | Google conversational AI; personal data tokenised before any LLM call ([Wells Fargo (Business Wire)](https://www.businesswire.com/news/home/20221024005103/en/), [Wells Fargo (Business Wire)](https://www.businesswire.com/news/home/20260326542274/en/Wells-Fargo-Reaches-Major-Digital-Milestones), [VentureBeat](https://venturebeat.com/business/wells-fargos-ai-assistant-just-crossed-245-million-interactions-with-zero-humans-in-the-loop-and-zero-pii-to-the-llm)) |
| U.S. Bancorp | Smart Assistant | July 23, 2020; Spanish version April 2022 | Used 2.5 million times a month | Voice-first; one of two large-bank assistants with voice, with Bank of America (Keynova, 2026) ([U.S. Bank](https://usbank.com/about-us-bank/company-blog/article-library/introducing-the-us-bank-smart-assistant.html), [U.S. Bank](https://usbank.com/about-us-bank/company-blog/article-library/us-bank-launches-nations-first-spanish-language-voice-assistant-for-banking.html), [U.S. Bank](https://usbank.com/content/dam/usbank/en/documents/pdfs/about-us-bank/2025-annual-report.pdf), [American Banker](https://www.americanbanker.com/news/u-s-bank-tops-mobile-banking-ranks-for-third-straight-year)) |
| Truist | Truist Assist | September 2022 | 12.5 million-plus requests from 2023 to March 2026, over 9 million handled end to end by AI | Generative AI writes care-centre call summaries (3.4 million in 1Q26) ([Truist](https://ir.truist.com/2022-09-15-Truist-launches-Truist-Assist), [Truist Financial (SEC filing)](https://www.sec.gov/Archives/edgar/data/92230/000009223026000039/ex993-earningsdeck1q26.htm)) |
| Capital One | Eno | March 2017 | Not published | Generative AI used in Chat Concierge for car dealers, not in Eno ([Reuters](https://www.reuters.com/article/technology/capital-one-launches-eno-gender-neutral-virtual-assistant-idUSKBN16H1RN), [Capital One](https://www.capitalone.com/digital/tools/eno/), [Capital One](https://www.capitalone.com/tech/ai/future-of-ai-car-dealerships-shopping)) |
| Citigroup | Citi Sky (wealth) | April 2026; phased rollout to Citigold clients | Not published | Built on Google's Gemini Enterprise Agent Platform with DeepMind avatar technology ([Citigroup (PR Newswire)](https://www.prnewswire.com/news-releases/citi-wealth-unveils-citi-sky--an-ai-powered-member-of-the-citi-wealth-team-built-using-google-cloud-and-google-deepmind-technologies-302749822.html)) |
| JPMorgan Chase | No branded consumer assistant | Travel agent targeted for pilot before end-2026 | Not applicable | LLM Suite serves employees; Smart Cash in pilot ([Banking Dive](https://www.bankingdive.com/news/jpmorgan-chase-lake-agentic-ai-commerce-adoption/822426), [Banking Dive](https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870)) |

## How does Bank of America's AI spending and return compare with its peers'?

Each bank's own figures; 'return' means management's estimate, not audited results.

| Bank | Technology budget | AI spend and return disclosed | Date |
| --- | --- | --- | --- |
| Bank of America | About $14 billion a year, more than $4.1 billion for new initiatives including AI | About 140 AI applications cost $400 million and generate $800 million; about 130 projects to lift savings from $300 million (2026) to $700 million (2027) | September and October 2026 ([Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/company-overview/bank-of-america-fast-facts.html), [Banking Dive](https://www.bankingdive.com/news/bank-of-america-ai-spending-roi-headcount-moynihan/831159), [Investing.com](https://www.investing.com/news/transcripts/earnings-call-transcript-bank-of-america-q3-2026-misses-estimates-as-stock-falls-93CH-4949584)) |
| JPMorgan Chase | About $19.8 billion in 2026 | AI spend 'closer to $700 million'; earlier $2 billion benefit estimate 'stale'; benefits not yet visible in results | October 13, 2026 ([JPMorgan Chase & Co. (SEC filings)](https://www.sec.gov/Archives/edgar/data/19617/000162828026010693/firmoverview.htm), [Banking Dive](https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870)) |
| Wells Fargo | More than $10 billion | Not broken out; 30%-35% coding efficiency gain cited by the CEO | December 2025; October 2026 ([American Banker](https://americanbanker.com/news/2026-the-most-powerful-women-in-banking-11-bridget-engle-wells-fargo), [Bloomberg](https://www.bloomberg.com/news/articles/2025-12-09/wells-fargo-ceo-sees-ai-impacting-companies-workforce-decisions)) |
| PNC | About $3.5 billion, up about 10% in 2026 | 171 AI and automation opportunities across $1.4 billion of addressable spend; target of 40 more points of operating leverage by 2030 | January 2026 ([Banking Dive](https://www.bankingdive.com/news/pnc-new-mobile-banking-app-personalization-agentic-ai/824713/), [Banking Dive](https://www.bankingdive.com/news/pnc-bank-ceo-demchak-earnings-regional-scale-automation/810116/)) |
| Citigroup | Not published on the profile | AI code reviews free about 100,000 hours of engineering capacity a week; 100-plus processes mapped for automation | May and July 2026 ([Citigroup](https://citigroup.com/rcs/citigpa/storage/public/investor-day/citi-ID26-full-event-transcript.pdf), [Citigroup](https://www.citigroup.com/rcs/citigpa/storage/public/2026psqtr2-transcript.pdf)) |
| Truist | Not published on the profile | Client Pulse built in-house avoided up to $10 million of cost; about $35 million targeted from a 10% drop in complaints | May 2025 ([American Banker](https://www.americanbanker.com/news/how-truist-is-building-a-real-time-view-of-all-customer-feedback)) |

## How does Bank of America's use of AI coding tools compare with other banks'?

Productivity figures are each bank's own measure (coding time, review time, output) and are not comparable one to one.

| Bank | Tools | Developers covered | Result disclosed | Date |
| --- | --- | --- | --- | --- |
| Bank of America | Coding agents and real-time coding assistance | About 20,000 developers | 15% to 20% productivity gain; AI took 30% out of the coding stream in 2025 | January and September 2026 ([Banking Dive](https://www.bankingdive.com/news/bank-of-america-ai-spending-roi-headcount-moynihan/831159), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/news/bofa-bac-q4-2025-earnings-183412441.html)) |
| JPMorgan Chase | Bank-built coding assistant; generative AI for mainframe refactoring | Tens of thousands of engineers | 10% to 20% efficiency gain | March 2025 ([Reuters](https://www.reuters.com/technology/artificial-intelligence/jpmorgan-engineers-efficiency-jumps-much-20-using-coding-assistant-2025-03-13/), [CIO Dive](https://www.ciodive.com/news/jpmorgan-chase-credit-card-AI-mainframe-modernization-platform/803157)) |
| Citigroup | Cognition's Devin; AI code review | Devin rollout to 40,000 developers from July 2025 | About 100,000 hours a week of engineering capacity freed by AI code reviews | May 2026 ([American Banker](https://www.americanbanker.com/news/citi-is-rolling-out-agentic-ai-to-its-40-000-developers), [Citigroup](https://citigroup.com/rcs/citigpa/storage/public/investor-day/citi-ID26-full-event-transcript.pdf)) |
| Goldman Sachs | GitHub Copilot, then Devin agents | 12,000 developers | Up to 20% efficiency gains from Devin pilots | June 2026 ([American Banker](https://www.americanbanker.com/news/goldman-sachs-staff-now-write-a-million-gen-ai-prompts-a-month), [American Banker](https://americanbanker.com/news/goldman-sachs-marco-argenti-is-3-on-the-most-innovative-people-in-finance)) |
| Wells Fargo | AI coding assistants | Not given | Engineers 30%-35% more efficient | December 2025 ([Bloomberg](https://www.bloomberg.com/news/articles/2025-12-09/wells-fargo-ceo-sees-ai-impacting-companies-workforce-decisions)) |
| U.S. Bancorp | GenAI code-review assistant; Copilot, Cognition and Claude Code | 70%-75% of engineers trained within three months | Code-review time cut 75% | 2025 annual report; June 2026 ([U.S. Bank](https://usbank.com/content/dam/usbank/en/documents/pdfs/about-us-bank/2025-annual-report.pdf), [American Banker](https://www.americanbanker.com/news/u-s-banks-dilip-venkatachari-is-15-on-the-most-innovative-people-in-finance-ranking), [American Banker](https://www.americanbanker.com/news/beyond-token-maxing-how-u-s-bank-ai-chief-navigates-costs)) |
| PNC | About 115 orchestrated AI agents | Built the new PNC mobile app with human review | Developer-assistance tools delivered some offerings about 40% more efficiently | July and September 2026 ([Banking Dive](https://www.bankingdive.com/news/pnc-new-mobile-banking-app-personalization-agentic-ai/824713/), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/pnc-financial-reaffirms-outlook-loans-110208542.html)) |

## How do Bank of America's AI patents compare with other banks'?

Counts use different scopes (grants, grants plus applications, AI-tagged only); each row says which.

| Bank | Patents on the record | Examples | Date |
| --- | --- | --- | --- |
| Bank of America | About 8,600 granted patents and pending applications, more than 1,700 AI-focused | Adversarial machine-learning attack detection; data-poisoning and drift prevention; defensive deepfakes; voice biometrics in a virtual assistant | October 2026 ([Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/company-overview/bank-of-america-fast-facts.html), [Google Patents (USPTO)](https://patents.google.com/patent/US12647436B2/en), [Google Patents (USPTO)](https://patents.google.com/patent/US12373551B2/en), [Google Patents (USPTO)](https://patents.google.com/patent/US12401744B2/en), [Google Patents (USPTO)](https://patents.google.com/patent/US12425392B2/en)) |
| Capital One | 472 AI patents granted in 2024, the top bank on Harrity's AI Patent 100; more than 5,000 US patents overall | Not itemised here | 2025 ([Bank Automation News](https://bankautomationnews.com/allposts/ai/inside-capital-ones-innovation-patent-strategy), [Capital One](https://www.capitalone.com/tech/ai/innovating-financial-services-through-customer-centered-ai)) |
| Truist | 1,200-plus patents and applications since its program began; 48% of recent filings AI or machine learning | AI action-prediction engines; natural-language risk scoring of customer communications | June 2026 ([Truist](https://ir.truist.com/2026-06-11-Truist-patent-boom-fueled-by-AI-machine-learning)) |
| JPMorgan Chase | Two LLM grants (October 2025, April 2026) plus published applications | LLM-verified SQL; private table question-answering; agent framework; hallucination detection | 2025-2026 ([Google Patents (USPTO)](https://patents.google.com/patent/US12443595B1/en), [Google Patents (USPTO)](https://patents.google.com/patent/US12596838B2/en), [Google Patents (USPTO)](https://patents.google.com/patent/US20260050765A1/en)) |
| Wells Fargo | Six AI-related published applications verified since 2025 | Fraud-assistant LLM; document-interrogation chatbot; model-based personal advisor | 2025-2026 ([Google Patents (USPTO)](https://patents.google.com/patent/US20250252445A1/en), [Google Patents (USPTO)](https://patents.google.com/patent/US20260119582A1/en), [Google Patents (USPTO)](https://patents.google.com/patent/US20260087043A1/en)) |

## Which banks are BofA's peers, and why these?

Bank of America is compared here with Citigroup, Wells Fargo, JPMorgan Chase, Goldman Sachs, U.S. Bancorp, Capital One, PNC Financial Services and Truist Financial: the US banks on this site nearest to it in business model (universal bank) and assets on the Federal Reserve's large-bank list. Bank of America is classed as a universal bank in the Southeast.

## Common questions

### Is Bank of America better than JPMorgan Chase at AI?

The record cannot settle capability, and the rankings disagree. This site's disclosure index puts Bank of America at #1 of 120 (97.3) and JPMorgan at #6 (89), because Bank of America documents more use cases in production and publishes more figures. Evident ranked JPMorgan first and Bank of America seventh of 50 banks (October 2026), and Fortune's AIQ 75 put them first and 19th. JPMorgan spends more on technology; Bank of America publishes a return figure. ([American Banker](https://americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens), [Fortune](https://fortune.com/2026/09/29/how-banks-are-using-ai-agents-copilots-roi/), [Fortune](http://fortune.com/2026/09/29/how-banks-are-using-ai-agents-copilots-roi), [JPMorgan Chase & Co. (SEC filings)](https://www.sec.gov/Archives/edgar/data/19617/000162828026010693/firmoverview.htm), [Banking Dive](https://www.bankingdive.com/news/bank-of-america-ai-spending-roi-headcount-moynihan/831159))

### Which bank has the best AI assistant, Bank of America or Wells Fargo?

By published scale, Erica is larger: more than 3.6 billion cumulative interactions by October 2026 against more than 1 billion for Wells Fargo's Fargo by March 2026. Fargo is newer, built on Google Cloud's conversational AI, and keeps personal data away from the language model; Erica was built in-house and rebuilt in 2025 as a model-agnostic platform. Neither bank publishes accuracy or resolution rates that would settle quality. ([Fortune](https://fortune.com/2026/10/01/ai-regulated-industries-bank-of-america-sp-global), [Wells Fargo (Business Wire)](https://www.businesswire.com/news/home/20260326542274/en/Wells-Fargo-Reaches-Major-Digital-Milestones), [VentureBeat](https://venturebeat.com/business/wells-fargos-ai-assistant-just-crossed-245-million-interactions-with-zero-humans-in-the-loop-and-zero-pii-to-the-llm), [Fortune](https://fortune.com/2026/03/17/inside-bank-of-americas-build-once-ai-strategy))

### How much does Bank of America spend on AI compared with other banks?

Bank of America spends about $14 billion a year on technology, more than $4.1 billion of it on new initiatives including AI, and its CEO said about 140 AI applications cost $400 million and generate $800 million in benefit, with the AI budget set to double in 2027. JPMorgan's technology budget is larger, about $19.8 billion in 2026, with AI spend put near $700 million; Wells Fargo spends more than $10 billion on technology. ([Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/company-overview/bank-of-america-fast-facts.html), [Banking Dive](https://www.bankingdive.com/news/bank-of-america-ai-spending-roi-headcount-moynihan/831159), [JPMorgan Chase & Co. (SEC filings)](https://www.sec.gov/Archives/edgar/data/19617/000162828026010693/firmoverview.htm), [Banking Dive](https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870), [American Banker](https://americanbanker.com/news/2026-the-most-powerful-women-in-banking-11-bridget-engle-wells-fargo))

### How does Bank of America compare with Citigroup on AI?

The two lead this site's index, Bank of America at 97.3 and Citi at 94.9. Bank of America reports about 200,000 active users of general-purpose AI tools and 114 live generative-AI use cases (June 2026); Citi reports 87%-plus adoption among more than 180,000 people and 65 million-plus interactions (September 2026). Citi has a client-facing AI wealth adviser, Citi Sky; Bank of America's client AI centres on Erica and CashPro Chat. ([Bank of America (SEC filings)](https://www.sec.gov/Archives/edgar/data/70858/000007085826000353/bac06302026ex992.htm), [Citigroup](https://www.citigroup.com/global/news/perspectives/2026/competitive-differentiator-david-griffiths-building-worlds-most-ai-empowered-financial-institution), [Citigroup (PR Newswire)](https://www.prnewswire.com/news-releases/citi-wealth-unveils-citi-sky--an-ai-powered-member-of-the-citi-wealth-team-built-using-google-cloud-and-google-deepmind-technologies-302749822.html), [Bank of America (PR Newswire)](https://www.prnewswire.com/news-releases/bofas-ai-driven-cashpro-chat-and-transaction-search-capabilities-reach-record-usage-by-corporate-clients-302593672.html))

### Why does Bank of America rank first here but seventh on Evident?

They measure different things. This site's index scores what is on the public record about each bank's AI, and Bank of America leads on documented use cases in production (16), dated moves (34) and disclosed numbers (27). Evident scores talent, innovation, leadership and transparency; its October 6, 2026 edition put Bank of America seventh, up from tenth, behind JPMorgan Chase, Capital One and RBC. ([American Banker](https://americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens), [Bank of America (SEC filings)](https://www.sec.gov/Archives/edgar/data/70858/000007085826000353/bac06302026ex992.htm))

### Is Bank of America cutting jobs because of AI like other banks?

Not by layoffs, by its own account. Moynihan said in September 2026 that headcount eased from 213,000 to 209,000 through attrition and 'we're not laying off anybody', and the bank is hiring about 4,000 interns and campus recruits in 2026. JPMorgan says AI cut headcount 30% to 40% in some units, and Wells Fargo's CEO expects 'tens of thousands of fewer positions' from automation. ([Banking Dive](https://www.bankingdive.com/news/bank-of-america-ai-spending-roi-headcount-moynihan/831159), [Reuters](https://www.reuters.com/business/finance/bank-america-hire-interns-campus-recruits-despite-ai-threat-2026-06-03/), [CNBC](https://www.cnbc.com/2026/07/14/jpm-bank-of-america-citi-bank-earnings-live-updates.html), [CNBC](https://www.cnbc.com/video/2026/08/04/watch-cnbcs-full-interview-with-wells-fargo-ceo-charlie-scharf.html))

### How does Bank of America govern AI compared with its peers?

Project by project: every AI implementation is reviewed against 16 risk pillars, including privacy, bias, workforce impact and intellectual property, and the CTIO says the bank often chooses rules over AI. Moynihan says agents are not 'just left to operate'. JPMorgan sets safeguards by an agent's capability and blast radius and blocks outside agents; Goldman runs a Firmwide AI Risk Committee co-chaired by its CIO and chief risk officer. ([Fortune](https://fortune.com/2026/10/01/ai-regulated-industries-bank-of-america-sp-global), [American Banker](https://www.americanbanker.com/news/bofa-and-pnc-respond-to-rising-ai-fears), [JPMorganChase](https://www.jpmorganchase.com/about/technology/blog/securing-agentic-ai), [CNBC](https://www.cnbc.com/2026/10/13/jpmorgan-ai-agents-account-access.html), [Goldman Sachs (SEC filing)](https://www.sec.gov/Archives/edgar/data/886982/000088698226000297/gs-20260630.htm))

## Peers on this site

- [Citigroup AI strategy](https://www.bankingnewsai.com/banks/citigroup) · [vs peers](https://www.bankingnewsai.com/banks/citigroup/vs-peers)
- [Wells Fargo AI strategy](https://www.bankingnewsai.com/banks/wells-fargo) · [vs peers](https://www.bankingnewsai.com/banks/wells-fargo/vs-peers)
- [JPMorgan Chase AI strategy](https://www.bankingnewsai.com/banks/jpmorgan-chase) · [vs peers](https://www.bankingnewsai.com/banks/jpmorgan-chase/vs-peers)
- [Goldman Sachs AI strategy](https://www.bankingnewsai.com/banks/goldman-sachs) · [vs peers](https://www.bankingnewsai.com/banks/goldman-sachs/vs-peers)
- [U.S. Bancorp AI strategy](https://www.bankingnewsai.com/banks/us-bancorp) · [vs peers](https://www.bankingnewsai.com/banks/us-bancorp/vs-peers)
- [Capital One AI strategy](https://www.bankingnewsai.com/banks/capital-one) · [vs peers](https://www.bankingnewsai.com/banks/capital-one/vs-peers)
- [PNC Financial Services AI strategy](https://www.bankingnewsai.com/banks/pnc) · [vs peers](https://www.bankingnewsai.com/banks/pnc/vs-peers)
- [Truist Financial AI strategy](https://www.bankingnewsai.com/banks/truist) · [vs peers](https://www.bankingnewsai.com/banks/truist/vs-peers)

## Sources

1. A Decade of AI Innovation: BofA's Virtual Assistant Erica Surpasses 3 Billion Client Interactions — Bank of America Newsroom, Aug 1, 2025. https://newsroom.bankofamerica.com/content/newsroom/press-releases/2025/08/a-decade-of-ai-innovation--bofa-s-virtual-assistant-erica-surpas.html
2. AI in regulated industries: BofA and S&P on the huge gains to be had, and the risks of rushing in — Fortune, Oct 1, 2026. https://fortune.com/2026/10/01/ai-regulated-industries-bank-of-america-sp-global
3. Wells Fargo Reaches Major Digital Milestones — Wells Fargo (Business Wire), Mar 26, 2026. https://www.businesswire.com/news/home/20260326542274/en/Wells-Fargo-Reaches-Major-Digital-Milestones
4. Eno, your Capital One assistant — Capital One, Sep 19, 2026. https://www.capitalone.com/digital/tools/eno/
5. Bank of America plans to double AI budget next year — Banking Dive, Sep 23, 2026. https://www.bankingdive.com/news/bank-of-america-ai-spending-roi-headcount-moynihan/831159
6. JPMorgan CEO Dimon warns customers of 'liability transfer' with AI — Banking Dive, Oct 13, 2026. https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870
7. Bank of America Fast Facts (undated page, retrieved 2026-10-19) — Bank of America Newsroom, Oct 19, 2026. https://newsroom.bankofamerica.com/content/newsroom/company-overview/bank-of-america-fast-facts.html
8. JPMorganChase still tops AI ranking as big-bank lead widens — American Banker, Oct 6, 2026. https://americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens
9. How bottom-line-focused financial firms are finding ROI in AI — Fortune, Sep 29, 2026. https://fortune.com/2026/09/29/how-banks-are-using-ai-agents-copilots-roi/
10. Bank of America hired 1,000 contractors to patch software flaws exposed by Anthropic's Mythos — CNBC, Oct 14, 2026. https://www.cnbc.com/2026/10/14/anthropic-mythos-bank-of-america-hiring-cost.html
11. How Bank of America's Erica does the work of 11,000 people — American Banker, Jan 22, 2026. https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people
12. U.S. Bancorp Annual Report 2025 — U.S. Bank, Feb 23, 2026. https://usbank.com/content/dam/usbank/en/documents/pdfs/about-us-bank/2025-annual-report.pdf
13. Earnings call transcript: Bank of America Q3 2026 misses estimates as stock falls — Investing.com, Oct 14, 2026. https://www.investing.com/news/transcripts/earnings-call-transcript-bank-of-america-q3-2026-misses-estimates-as-stock-falls-93CH-4949584
14. 'We're coming' to 'fight you,' PNC's Demchak warns banks — Banking Dive, Jan 21, 2026. https://www.bankingdive.com/news/pnc-bank-ceo-demchak-earnings-regional-scale-automation/810116/
15. Second Quarter 2026 Financial Results presentation (Form 8-K, Exhibit 99.2) — Bank of America (SEC filings), Jul 14, 2026. https://www.sec.gov/Archives/edgar/data/70858/000007085826000353/bac06302026ex992.htm
16. Bank of America (BAC) Q2 2026 Earnings Call Transcript — The Motley Fool (Yahoo Finance), Jul 21, 2026. https://finance.yahoo.com/markets/stocks/articles/bank-america-bac-q2-2026-194711248.html
17. Inside Capital One Auto's innovation, patent strategy — Bank Automation News, Aug 27, 2025. https://bankautomationnews.com/allposts/ai/inside-capital-ones-innovation-patent-strategy
18. Truist patent boom fueled by AI & machine learning — Truist, Jun 11, 2026. https://ir.truist.com/2026-06-11-Truist-patent-boom-fueled-by-AI-machine-learning
19. How bottom-line-focused financial firms are finding ROI in AI — Fortune, Sep 29, 2026. http://fortune.com/2026/09/29/how-banks-are-using-ai-agents-copilots-roi
20. Project Glasswing: Securing critical software for the AI era — Anthropic, Apr 7, 2026. https://www.anthropic.com/glasswing
21. Goldman Is Using Mythos, Working With Anthropic on Cyber Risks — Bloomberg, Apr 13, 2026. https://www.bloomberg.com/news/articles/2026-04-13/goldman-is-using-mythos-working-with-anthropic-on-cyber-risks
22. People use AI to gauge banks' reputations, and its verdicts are harsh — American Banker, Sep 18, 2026. https://www.americanbanker.com/opinion/people-use-ai-to-gauge-banks-reputations-and-its-verdicts-are-harsh
23. U.S. Treasury Announces Record Enforcement Actions Against Bank of America — U.S. Department of the Treasury, Oct 13, 2026. https://home.treasury.gov/news/press-releases/sb0657
24. BofA fined $1.21 billion over AML — Banking Dive, Oct 13, 2026. https://bankingdive.com/news/bofa-fined-1-21-billion-over-aml-bsa-occ-treasury/832915
25. Bank of America Enhances EricaAssist with Generative AI — Bank of America Newsroom, Jul 21, 2026. https://newsroom.bankofamerica.com/content/newsroom/press-releases/2026/07/bank-of-america-enhances-ericaassist-with-generative-ai-to-help-.html
26. The AI Superfans Companies Count On to Convert the Skeptics — The Wall Street Journal, Jul 8, 2026. https://www.wsj.com/cio-journal/the-ai-superfans-companies-count-on-to-convert-the-skeptics-5b301a90
27. Earnings Results Presentation, First Quarter 2026 — Citigroup, Apr 14, 2026. https://www.citigroup.com/rcs/citigpa/storage/public/Earnings/Q12026/2026psqtr1rslt.pdf
28. How JPMorganChase democratized employee access to gen AI — American Banker, May 22, 2025. https://www.americanbanker.com/news/how-jpmorganchase-democratized-employee-access-to-gen-ai
29. Driving AI Use Cases and Adoption (Women in Banking 2025 session) — American Banker, Oct 21, 2025. https://www.americanbanker.com/video/wib-2025/driving-ai-use-cases-and-adoption-aligning-business-value-data-readiness-and-risk-management
30. 4Q23 Financial Results — Wells Fargo, Jan 11, 2024. https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/fourth-quarter-2023-financial-results.pdf
31. Wells Fargo's AI assistant just crossed 245 million interactions – no human handoffs, no sensitive data exposed — VentureBeat, Apr 8, 2025. https://venturebeat.com/business/wells-fargos-ai-assistant-just-crossed-245-million-interactions-with-zero-humans-in-the-loop-and-zero-pii-to-the-llm
32. Wells Fargo plans to unleash Google's agentic AI bank-wide — American Banker, Aug 5, 2025. https://www.americanbanker.com/news/wells-fargo-plans-to-unleash-googles-agentic-ai-bank-wide
33. AI for Car Dealerships: Smarter Car Shopping — Capital One, Mar 5, 2025. https://www.capitalone.com/tech/ai/future-of-ai-car-dealerships-shopping
34. Capital One's Applied AI research — Capital One, Nov 20, 2025. https://www.capitalone.com/tech/ai/applied-ai-research
35. Goldman Sachs, Capital One prep for self-driving AI agents — American Banker, Feb 20, 2025. https://www.americanbanker.com/news/goldman-sachs-capital-one-prep-for-self-driving-ai-agents
36. Truist delivers 2 billion AI-powered proactive insights — Truist via FT Markets, Sep 3, 2026. https://markets.ft.com/data/announce/detail?dockey=600-202609030730PR_NEWS_USPRX____CL39481-1
37. Steve Hagerman's agentic vision for Truist's future — American Banker, Jun 1, 2026. https://www.americanbanker.com/news/the-truist-cio-is-34-on-the-most-innovative-people-in-finance-ranking
38. U.S. Bank launches Design Assistant, an AI solution to empower designers at scale — U.S. Bank, Mar 30, 2026. https://www.usbank.com/about-us-bank/news-and-stories/article-library/us-bank-launches-design-assistant-an-ai-solution-to-empower-designers-at-scale.html
39. U.S. Bank gives embedded banking clients a gen AI assistant — American Banker, Jan 15, 2026. https://www.americanbanker.com/news/u-s-bank-gives-embedded-banking-clients-a-gen-ai-assistant
40. AI-powered Statement Analyzer simplifies payment services for small businesses — U.S. Bank, May 26, 2026. https://www.usbank.com/about-us-bank/news-and-stories/article-library/ai-powered-statement-analyzer-simplifies-payment-services-for-small-businesses.html
41. U.S. Bank launches AI-driven cash forecasting tool — U.S. Bank, Nov 18, 2025. https://www.usbank.com/about-us-bank/news-and-stories/article-library/us-bank-launches-ai-driven-cash-forecasting-tool.html
42. Goldman Sachs staff now write a million gen AI prompts a month — American Banker, Jul 25, 2025. https://www.americanbanker.com/news/goldman-sachs-staff-now-write-a-million-gen-ai-prompts-a-month
43. Marco Argenti gives Goldman Sachs coders an AI helper — American Banker, Jun 1, 2026. https://www.americanbanker.com/news/goldman-sachs-marco-argenti-is-3-on-the-most-innovative-people-in-finance
44. Why PNC is building its own 'AI factory' — American Banker, Jun 11, 2026. https://www.americanbanker.com/news/why-pnc-is-building-its-own-ai-factory
45. PNC's solution to rising AI costs: build its own AI — American Banker, Jun 12, 2026. https://www.americanbanker.com/news/pncs-solution-to-rising-ai-costs-build-its-own-ai
46. PNC's New Mobile App Delivers an Intuitive, Personalized Experience to Help Clients Seamlessly Manage Their Day-to-Day Financial Lives — PNC via FT Markets, Jul 7, 2026. https://markets.ft.com/data/announce/detail?dockey=600-202607070807PR_NEWS_USPRX____NE98867-1
47. PNC at Barclays conference: growth, AI and branch push (transcript) — Investing.com, Sep 14, 2026. https://uk.investing.com/news/stock-market-news/pnc-at-barclays-conference-growth-ai-and-branch-push-93CH-4868299
48. The Man Behind Bank of America's $13 Billion Tech Agenda — The Wall Street Journal, Aug 20, 2025. https://www.wsj.com/articles/the-man-behind-bank-of-americas-13-billion-tech-agenda-3d770a2d
49. Bank of America's CTO champions a disciplined approach to AI — American Banker, Jun 1, 2026. https://www.americanbanker.com/news/bofas-cto-is-12-on-the-most-innovative-people-in-finance-ranking
50. US 12,705,363 B2: Vulnerability detection and mitigation using artificial intelligence in an electronic environment (Bank of America Corporation) — Google Patents (USPTO), Aug 11, 2026. https://patents.google.com/patent/US12705363B2/en
51. Citigroup says AI helps speed account openings and systems upgrades — Reuters, Apr 8, 2026. https://www.reuters.com/business/finance/citigroup-says-ai-helps-speed-account-openings-systems-upgrades-2026-04-08/
52. US12450494B1 - Validating autonomous artificial intelligence (AI) agents using generative AI — Google Patents (USPTO), Oct 21, 2025. https://patents.google.com/patent/US12450494B1/en
53. Wells Fargo Names Saul Van Beurden to Lead Artificial Intelligence — Wells Fargo via FT Markets, Nov 20, 2025. https://markets.ft.com/data/announce/detail?dockey=600-202511201615BIZWIRE_USPRX____20251120_BW971693-1
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