Bank of America (NYSE: BAC) announced enhancements to EricaAssist, an AI-assisted tool used by more than 18,000 customer service representatives to support client interactions in real time.

According to a company press release, the updated tool uses generative AI to summarize the reason for a client's call, surface relevant information, and recommend next steps based on the employee's role and the client's relationship with the bank. The system delivers contextual guidance in under three seconds without interrupting the conversation.

Bank of America said EricaAssist reduces average call times by nearly one minute per interaction. Employees remain central to decision-making, with the AI operating under the bank's governance and oversight framework.

"By combining human judgment with real time AI guidance, we're helping employees navigate complex topics more easily and serve clients more effectively in the moments that matter most," said Ashley Ross, Head of Consumer Client Experience and Business Transformation at Bank of America.

Tom Ellis, Chief Information Officer and Head of Consumer Technology, said the technology delivers insights "while operating with strong governance, transparency, and accountability."

Bank of America said it spends $14 billion annually on technology, with more than $4 billion allocated to new initiatives including AI. The company plans to expand EricaAssist to additional servicing scenarios and business lines later this year.