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1 episodes · 17 quoted claims
Bank of America's Academy was created in 2017 to replace the bank's earlier learning organization.
“The Academy has existed since 2017. It replaced our legacy learning organization, and it's Bank of America's award-winning onboarding, education and professional development organization”
Some 750 Bank of America employees have moved from business lines into the Academy as full-time Academy staff over recent years.
“some 750 people have moved from the line of business into the academy and become a full-fledged academy teammate”
Bank of America hired about 20,000 people in the year before the recording, including 2,000 student campus hires.
“That's 20,000 people we hired last year. That includes 2,000 of our student campus hires.”
Almost 45% of Bank of America's open roles in the prior year were filled by internal candidates, according to Bernard Hampton.
“45 of open roles last year almost were filled internally, which further leans into why skilling and upskilling are so important across the organization.”
Bernard Hampton says Bank of America has stated it may need fewer people for some functions over time but sees opportunities to reinvest in staff.
“we've said that over time, you may need less of people to do certain functions in the organization, but at the same time, there's opportunities for reinvestment.”
Bank of America frames AI adoption in three levels, with level one covering personal productivity tools for every role.
“we think about AI in three different levels, call it at level one. That is about every role and function.”
At level two, Bank of America curates AI agents to aggregate information from a unique system for a particular group.
“Maybe there's one group that needs to use one system most often, and we curate using agents the ability to be able to decipher, pull together, aggregate information”
Level three of Bank of America's AI framework involves large workflows with multiple data sources and multiple agents across the organization.
“level three, where we think about large workflows, multiple data sources, multiple agents involved, and that's usually large scale and horizontal across the organization.”
The Academy uses AI conversation simulators for role play and coaching to build employees' soft skills.
“The academy leverages AI conversation simulators to help teammates build and strengthen soft skills through interactive role play and coaching”
Bank of America's training simulations have employees respond to a lifelike client avatar and receive real-time feedback.
“respond to an avatar that looks like a live, walking, talking, breathing client. And you get to engage in various scenarios and get feedback real time”
Bernard Hampton uses the example of an AI approving five high-risk transactions in a row to illustrate why humans must still verify the sixth.
“if you were using AI of sorts and it said, yes, yes, yes, the key question has to be, well, what happens that sixth time?”
Bank of America measures how many AI prompts each line of business writes as an indicator of AI adoption culture.
“We measure how many prompts an organization is writing by line of business.”
Bank of America held hundreds of listening sessions of 20 to 30 people each to gather employee views on AI.
“did hundreds of these listening sessions where we brought together 20, 30 people at a time”
Bernard Hampton says the useful life of technical skills is shorter now than at any time in his adult life.
“the half life of technical skills, have become shorter at any time, probably in my lifetime as an adult.”
Bernard Hampton says Bank of America's AI adoption proceeds at a measured pace because banking is highly regulated.
“We're a highly regulated industry, so we're always going to be thoughtful as we move.”
Bernard Hampton says Bank of America did not have a client-facing AI solution just over a decade before the recording.
“You know, it's hard to believe that just over a decade ago, we didn't have a client AI solution”
Bernard Hampton says Bank of America's client AI solution is used more than 169 million times per quarter.
“today we we have one that clients use more than 169 million times a quarter and growing quarter after quarter.”