Bank of America has taken a unique approach with its virtual assistant, Erica, by integrating it into the consumer experience and now expanding it to internal use. The bank continues to invest in Erica, integrating new technologies such as Generative AI to improve user interactions. The assistant has evolved since its 2020 launch, where it initially facilitated basic tasks for employees. Now, it also allows users to access health benefits and payroll information. The addition of Large Language Models plays a significant role in enhancing Erica's capabilities.
As we look at the emergence of Generative AI, we actually see that classification can actually get a lot better. You can actually talk even more naturally in a natural language.
Erica's success with consumers fueled the firm's efforts to open up the digital assistant for employees. When it launched in 2020, the virtual assistant allowed employees to complete basic tasks like password resets, and device activation.
We have about 25 different proof of concepts right now, many of them are actually about to get into production, which use a Large Language Model in some way.
In 2023, Erica for Employees saw another boost in capability with employees being able to review health benefits, locate payroll and tax forms, through the digital assistant.
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