PROVIDENCE – Bank of America Corp.’s virtual financial assistant, “Erica,” recently reached a new milestone, surpassing 1 billion online exchanges with clients nationwide, according to a news release.
The benchmark comes nearly four years after the company debuted the artificial intelligence-powered technology designed to help customers with financial advice and answer questions.
Since its launch, Erica has helped nearly 32 million clients, with an average of 1.5 million “interactions” per day, the release stated.
In Rhode Island, about 80,000 bank clients use the financial assistant services, which is up 11% over a year ago, according to a spokesperson for the company.
The news comes as Bank of America prepares to strengthen Erica’s capabilities, with plans in the first half of 2023 to start connecting clients directly to financial specialists when they ask Erica about new products or services, the release stated.
Since launching the technology, the bank has steadily increased its capabilities, adding financial insights that helped clients review their spending, find out about refunds or duplicative charges, or cut recurring subscription charges that may have increased.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
