“Tapping capabilities of the bank’s AI-powered virtual assistant Erica to handle internal self-service has also led to a considerable reduction in help desk inquiries at the bank, he added. BofA has said Erica handles the work of about 11,000 people. The Charlotte, North Carolina-based lender expects to double its expense budget for AI next year, Bank…
Month: September 2026
AI Expands Banks’ Options for Modernizing Legacy Cores
“A PYMNTS examination of OpenAI’s GPT-6 Astra looked at computer use, which allows AI to operate existing applications through their interfaces… Computer use addresses another part of the installed technology base. An agent can navigate software through the same interface an employee uses, providing access to applications that have not been fully exposed through APIs. The result…
Building the AI Agent Economy – Ramesh Raskar
Tech Leaders Unite Amid Urgent A.I. Warning
“Some of the world’s leading creators of Al are uniting in warning of the dangers of the technology advancing too quickly and publicly calling for a slowdown. They say that it could, in the not-too-distant future, actually outsmart the researchers who are building it and pose an existential threat to humanity. NBC’s Christine Romans reports…
Chime Acquires Stride Bank to Scale AI-Native Banking
“By acquiring Stride Bank, Chime is definitively escaping this compliance bottleneck… The transaction provides Chime with a quicker path to full-stack ownership rather than jumping through the hoops for a de novo bank charter, a notoriously arduous process… However, Chime intends to keep its total consolidated assets below the US$10bn threshold for the foreseeable future….