UKG Appoints Jim Joudrey as Chief Technology Officer to Lead Global Engineering and Cloud Organization.

UKG has appointed Jim Joudrey as Chief Technology Officer to lead the company's global engineering and cloud organization of 4,000 people. Joudrey has over 20 years of experience in leading large-scale engineering and technology teams at companies like Amazon and Salesforce. He will report to CEO Jennifer Morgan and focus on advancing UKG's AI-first platform to help customers make smarter decisions.

Charlotte, N.C. — Bank of America's AI-driven virtual financial assistant, Erica, has achieved a significant milestone, surpassing 3 billion client interactions since its launch in 2018. This marks a substantial increase from the nearly 50 million users who have interacted with Erica since its inception, with the assistant now averaging more than 58 million interactions per month [1].

Erica's capabilities extend beyond basic financial assistance, offering personalized insights and proactive alerts to clients. For instance, Erica highlights cashback deals from BankAmeriDeals based on clients' spending habits, forecasts balance trends over the next seven days, and notifies clients of their eligibility for Preferred Rewards. Additionally, Erica provides guidance on nearly 50 investment-related topics, enabling clients to manage their banking, investment, and retirement relationships seamlessly [1].

The AI assistant has been integral to reducing call center volume, with over 98% of users finding the information they need, and has facilitated more than 18.7 million hours of conversation. Bank of America's data scientists have trained Erica to recognize and respond to millions of client questions using a library of over 700 responses, continuously updating the system with over 75,000 updates since its launch [1].

Beyond client interactions, Erica is embedded across various departments within Bank of America, including Merrill, Benefits OnLine, and CashPro. For example, CashPro Chat, Erica's virtual service advisor, handles transactions and account information for 65% of clients, while Erica for Employees has reduced IT service desk calls by 50% [1].

Bank of America's commitment to AI innovation has earned it several industry accolades. Most recently, it was named the top U.S. consumer bank for AI use by Global Finance magazine and recognized Erica as 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