Erica, AI-driven virtual assistant, reaches 50 million users and 58 million monthly interactions.

Bank of America's AI-driven virtual financial assistant, Erica, has surpassed 3 billion client interactions and averages 58 million interactions per month. Launched in 2018, Erica has served nearly 50 million users, providing personalized insights and assisting clients with their finances. The assistant has delivered over 1.7 billion proactive insights, helping clients stay on top of their financial management.

Bank of America's AI-driven virtual financial assistant, Erica, has reached a significant milestone, surpassing 3 billion client interactions and averaging 58 million interactions per month. Since its launch in 2018, Erica has served nearly 50 million users, providing personalized insights and assisting clients with their financial management [1].

Erica has delivered over 1.7 billion proactive insights, helping clients stay on top of their financial management. Some of the ways Erica assists clients include highlighting cash back deals based on spending, alerting clients about balance trends, notifying clients of their eligibility for Preferred Rewards, and providing guidance on investment-related topics. Additionally, Erica can schedule appointments, creating a seamless handoff to high-touch service channels [1].

The assistant has significantly decreased call center volume by helping clients find the information they need, with more than 98% of users successfully doing so. Bank of America's data scientists have trained Erica to recognize and respond to millions of client questions using a library of more than 700 responses. The system has undergone over 75,000 updates since launch to continuously improve the client experience [1].

Erica is embedded across various areas of Bank of America, assisting both clients and employees. For example, the "ask MERRILL®" and "ask PRIVATE BANK®" tools help wealth management teams efficiently curate information to deliver superior client experiences. Erica for Employees has reduced calls into the IT service desk by 50% and will expand its capabilities this year to offer enhanced search and assistance across a broader set of topics [1].

Bank of America's approach to AI and proven use cases have earned the company several industry accolades. Most recently, the company was named the top U.S. consumer bank for use of AI by Global Finance magazine through its inaugural "AI in Finance" awards, and Erica was named the best chatbot/virtual assistant in the U.S. and North America [1].

References:
[1] https://www.nasdaq.com/press-release/decade-ai-innovation-bofas-virtual-assistant-erica-surpasses-3-billion-client
[2] https://newsroom.bankofamerica.com/content/newsroom/press-releases/2025/08/a-decade-of-ai-innovation--bofa-s-virtual-assistant-erica-surpas.html